DocuSign Board of Directors Appoints SaaS Industry Veterans Keith Krach as Chairman and Steve King as President and CEO
Silicon Valley Executives to Guide Growth and Momentum as DocuSign Posts 300 Percent Paid Transaction Growth and Captures 73 Percent eSign Market Share
SEATTLE – January 27, 2010 - DocuSign®, the industry leading provider of on-demand electronic signature solutions, today appointed Keith Krach, founder and former CEO of Ariba (NASDAQ: ARBA), as chairman of its board of directors. In addition, Steven R. King, former E*TRADE executive (NASDAQ: ETFC) and SaaS industry veteran, was named president and CEO. The move was initiated as the company scales to meet broad market adoption of its e-signature services. Krach and King join DocuSign during a period of explosive growth, with paid transactions increasing more than 300 percent in 2009 over the prior year.
Krach, a well-known Silicon Valley entrepreneur, joins DocuSign with an impressive success record, including building and steering three companies to global leadership. In 1996, Krach co-founded Ariba, served as CEO and chairman for six years while taking the company public and building it into one of the fastest growing software companies in history. In 2000, he was honored by Ernst & Young as National Entrepreneur of the Year, and received the Technology Pioneer Award at the World Economic Forum in Davos, Switzerland. Today, Krach serves as the CEO of the investment holding company 3Points, Inc.
"I am very impressed with the immediate financial and business process impact DocuSign has on its customers, the fantastic growth it is experiencing, and its tremendous customer base," said Krach. "The business results in 2009 were incredible. I am excited to be part of DocuSign and looking forward to working with Steve King and the DocuSign management team."
As president and CEO, King brings more than 25 years of leadership experience in information technology. Most recently, King led venture-backed Virtela and ZANTAZ as president and CEO. Under his seven-year leadership, ZANTAZ grew to become the recognized market leader in SaaS email archiving, and was acquired in 2007 by The Autonomy Group. Prior to these positions, King held a number of executive positions at E*TRADE Group Inc., where he played a key role in growing the company from under $100 million to more than $1.5 billion in revenues. He ultimately became CEO of E*OFFERING, the pioneering online investment bank of E*TRADE, acquired by Wit SoundView Group. Previously, King held senior management positions at the Thomson Reuters Corporation (NYSE: TRI) and Ziff-Davis. In 2006, he received the prestigious Ernst & Young Entrepreneur of the Year Award.
"DocuSign is clearly leading the e-signature revolution with its vast service offerings, number of users and market share," said King. "Matt Schiltz and Tom Gonser have done an exceptional job growing the company to this pivotal stage, and I'm excited to work with this dynamic team."
Matthew J. Schiltz will assume executive responsibilities for strategic business development. This is a role Schiltz held in conjunction with his responsibilities as CEO and president of DocuSign for the past three years. DocuSign experienced phenomenal growth under Schiltz's leadership and is well-positioned to maintain dominance in the market.
In 2009, DocuSign:
- Received a strategic investment from Second Century Ventures to extend DocuSign's leadership position in the residential and commercial real estate sector.
- Accepted the honor of being named the official and exclusive provider of ESIGN services for the National Association of REALTORS® 1.2 million members, under the REALTOR Benefits® Program.
- Surpassed 2.5 million users and exceeded 53 million signature events and many others.
- Delivered more than 480 customer-driven features while concurrently deploying the eSign industry's only fully redundant data centers supporting high availability and immediate disaster recovery.
- Deployed a 10X upgrade in processing power and storage while consistently maintaining a 99.993% system availability over the past 24 months.
- Achieved a dominant 73 percent ownership in the SaaS-based electronic signature services market.
DocuSign services also received numerous accolades and awards including the 2009 Best Partner App of the Year Appy Award from salesforce.com, the 2009 Red Herring 100 Award and the 2009 Product Innovation Award from the Networks Product Guide.
About DocuSign, Inc.
DocuSign, Inc. is the leading provider of on-demand software services for electronic signature.DocuSign empowers individuals, small businesses and global enterprises to operate faster and more efficiently, with greater profitability, enhanced security and compliance. DocuSign is the only Web-based service to securely automate and control the entire electronic document signing process. DocuSign employs the SaaS eSign industry's only enterprise class SAS-70, fully redundant data center delivering 99.993% uptime for customers over the last 30 months. To date, more than 70 million signature events have been executed using DocuSign. In addition, DocuSign is the official and exclusive provider of e-signature services for the National Association of REALTORS® 1.1 million members, under the REALTOR Benefits® Program.
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