Google Ventures Backs DocuSign in Series D Funding
Electronic Signature Leader DocuSign Raises a Total of $55.7 Million to Further Disrupt Old-Economy, Pen-and-Paper Market with Innovative SaaS Platform
SAN FRANCISCO – August 7, 2012—DocuSign, the Global Standard for eSignature®, announced today that Google Ventures has joined in the company’s most recent financing round, bringing the total Series D funding to $55.7 million. Google Ventures joins investment lead Kleiner Perkins Caufield & Byers, along with Accel Partners, Comcast Ventures, SAP Ventures, and a large global institutional investor in this round. The company will use the funds to accelerate growth of the DocuSign Global Network via increased customer-focused R&D, deeper vertical industry solutions, and faster international expansion.
DocuSign’s secure, cloud-based platform helps consumers and businesses of all sizes and industries to complete transactions faster by eliminating the hassles, costs, and lack of security inherent in printing, faxing, scanning, and overnighting documents to capture information, payments and signatures. Companies use DocuSign to create better customer experiences and save money by automating and streamlining their business processes.
“The investment by Google Ventures highlights DocuSign’s value as a tech disruptor across the web and mobile platforms, from consumers to global enterprises,” said Keith Krach, DocuSign chairman and CEO. “DocuSign has become the global standard for eSignature by building a viral network of more than 22 million users that attracts 60,000 new users every day.”
“Electronic signatures are being rapidly adopted by enterprises, small businesses and consumers worldwide due to their convenience, security and ease of use,” said Karim Faris, partner, Google Ventures. “DocuSign’s market momentum, deep technology and strong team attracted us to them and we are excited to be working with the company as they scale their business worldwide extending their reach to hundreds millions of consumers.”
Global enterprises, business departments, individual professionals and consumers are standardizing on DocuSign, with 60,000 new users joining the DocuSign Global Network every day. Today, that network includes 20 million users who have DocuSigned more than 150 million documents in 188 countries – including employees at 90 percent of the Fortune 500. DocuSign is used to finish business faster across nearly every industry – from financial services, insurance, technology, healthcare, manufacturing, communications, real estate, consumer goods to higher education and others – as well every business department, including sales, finance, operations, procurement, HR/staffing, legal, and customer support.
DocuSign’s growing customer base includes companies like American Airlines, AON, Ariba, Auto Insurance Specialists (AIS), Bayer, BECU, BNY Mellon, Boston Scientific, BMW Financial Services, Box, California Closets, CB Richard Ellis, CenturyLink, Cisco, Comcast, Costco, Cox, DuPont, eBay, Expedia, Extra Space Storage, Haagen-Dazs Shoppe Company, HP, IKON Financial Services, Legal & General America (Banner Life and William Penn Life Insurance), LinkedIn, Madison Capital, Medtronic, Pinney Insurance, Siemens, Sony, TD Ameritrade Institutional, Toyota, Transamerica, United Automobile Insurance Services, Wellmark, Xerox, Yahoo!, and Yamaha.
DocuSign investors include Kleiner Perkins Caufield & Byers, Accel Partners, Comcast Ventures, SAP Ventures, Google Ventures, Sigma+Partners, Scale Venture Partners, Frazier Technology Ventures, Ignition Partners, Second Century Ventures, WestRiver Capital LLC, salesforce.com, and the National Association of REALTORS®. To learn more about DocuSign, visit www.docusign.com.
About DocuSign Inc.
DocuSign® is the leader in eSignature transaction management, and the global standard for eSignature®. DocuSign helps customers accelerate transaction times to increase speed to results, reduce costs, and delight customers with the easiest, fastest, most secure global network for sending, signing, tracking, and storing documents in the cloud. For more information, visit www.docusign.com or call 877.720.2040. Visit the DocuSign blog at www.docusign.com/blog and follow DocuSign on Twitter, LinkedIn and Facebook.