[DigitalToday reporter Chi-gyu Hwang] Factify has raised $73 million in seed funding and is developing a document format to replace PDFs, SiliconANGLE reported on Jan. 28 (local time).

The round was led by Valley Capital Partners and included John Giannandrea (존 지안드레아), who led AI at Google and Apple, Ken Moelis (켄 모일리스), founder of Moelis & Co, and Peter Brown (피터 브라운), CEO of Renaissance LLC.

Factify is developing “document infrastructure” to replace PDFs. Each file is intended to have its own ID, access rules, version history and intelligence so it can update automatically, SiliconANGLE reported.

Factify founder and CEO Matan Gavish (마탄 가비시) said PDFs are static documents that cannot verify information or confirm the latest version, making them unreliable in an AI-based business environment. He said existing tools such as digital signatures instead weaken companies’ ability to respond to the future.

Factify said its Factified documents are designed with built-in self-control, intelligence and reliability so both humans and AI systems can use them. Each document retains an independent ID, an audit trail and its purpose from creation to deletion, and only approved users can access it.

Users can talk to documents or ask questions. They can also perform tasks such as approval, signing, editing, expiration and compliance checks directly within the document without external tools.

Factify is targeting document-centric regulated industries such as finance, insurance, legal and human resources. SiliconANGLE reported that Factify documents are already being used in the legal sector for NDA enforcement and to automate onboarding and approval processes for HR teams.

Factify plans to use the funding to expand its engineering team and add intelligence to document functions. It will also strengthen cooperation with early adopters, focusing on the U.S. market.