Electronic signature company DocuSign said Tuesday that it has secured $85 million in funding. The company’s backers include Comcast Ventures, Google Ventures, SAP Ventures, Sigma West, Kleiner Perkins Caufield & Byers, Accel Partners and Frazier Technology Ventures. Morgan Stanley was the placement agent for the transaction.
SAN FRANCISCO, CA – March 4, 2014 – DocuSign announced the company has raised an additional $85 million with the vast majority from large institutional public funds and the balance fromexisting investors. DocuSign will use the funds to fuel continued growth as the global standard for Digital Transaction Management (DTM). The company will further innovate the DocuSign DTM platform, drive deeper vertical solutions, invest in the company’s strategic partnerships, and continue its international expansion.
Digital Transaction Management has emerged as a new category of cloud services to digitally manage document-based transactions. DTM removes friction inherent in processes that involve people, documents, and data to create faster, easier, more convenient and secure transactions. DocuSign’s DTM platform helps consumers and businesses complete transactions faster by eliminating the hassles, costs, and lack of security in printing, faxing, scanning, and overnighting documents to capture information, payments, and signatures. Companies DocuSign to create better customer experiences, ensure security and compliance, and achieve substantial ROI.
“We have the opportunity to change the way business is done for companies large and small,” said Keith Krach, chairman and CEO, DocuSign. “Our latest round of financing positions us to help more customers around the world keep business digital with DocuSign as the catalyst for their digital transformations. Our goal is to be a long-term sustainable company that provides value to our customers, partners, employees, and investors for many years to come.”
With more than 95,000 companies as customers, millions of users in 188 countries, and more than 40,000 new unique users joining the DocuSign Global Network every day, DocuSign is relied upon around the world as the only open, independent, standards-based DTM platform that enables trust between transacting parties. The funding follows on the heels of last week’s announcement of the company’s long-term strategic partnership with Microsoft to bring DocuSign Digital Transaction Management to the more than one billion Microsoft Office users worldwide.
“Our customers require an independent, global service the works with all solution providers across existing line-of business processes and enterprise-wide systems,” said Gordon Payne, chief operating officer, DocuSign. “DocuSign has built its reputation as the most trusted, reliable, and secure DTM platform so that our customers can rest assured when there’s business to be done, they can just DocuSign it.”
The company’s most recent financing brings its total funding to $210 million. In addition to several large institutional public funds, DocuSign strategic investors include Comcast Ventures, Google Ventures, salesforce.com, SAP Ventures, and the National Association of REALTORS®. DocuSign financial investors include Sigma West, Kleiner Perkins Caufield & Byers, Accel Partners, Scale Venture Partners, Ignition Partners, and Frazier Technology Ventures. Morgan Stanley & Co. LLC acted as sole placement agent on the transaction.
“The caliber of the institutional funds and strategic partners who’ve invested in DocuSign highlights the positive impact DocuSign has for our customers by delivering significant ROI, ensuring security and compliance, and improving customer satisfaction and loyalty,” said Mike Dinsdale, chief financial officer. “The viral effect of the DocuSign global network helps bring the benefits of DocuSigning to all people around the world.”
DocuSign’s DTM platform is used to accelerate transaction times and increase speed to results across nearly every industry – from financial services, insurance, technology, healthcare, government, manufacturing, communications, real estate, retail, and consumer goods to higher education, non-profits and others – as well as every business department, including sales, marketing, finance, procurement, HR/staffing, legal, operations, and customer support.
DocuSign® is The Global Standard for Digital Transaction Management™. Global enterprises, business departments, individual professionals, and consumers have standardized on DocuSign, with more than 40,000 new users joining the DocuSign Global Network every day. Today, that network includes millions of users in 188 countries. DocuSign’s DTM platform supports legally compliant electronic and digital signature processes tailored to meet requirements globally with localization in 43 languages. Companies and individuals DocuSign to accelerate transaction times to increase speed to results, reduce costs, increase security and compliance, and delight customers across nearly every industry – from financial services, insurance, technology, healthcare, manufacturing, communications, real estate, retail, and consumer goods to higher education, nonprofit and others – as well as every business department, including sales, finance, operations, procurement, HR/staffing, legal, and customer support. For more information, visit www.docusign.com.