Kleiner Perkins and Accel Partners Fund Electronic Signature Leader Disrupting Old-Economy, Pen-and-Paper Market with Innovative SaaS Platform
SAN FRANCISCO – Saturday, July 14th 2012 [ME NewsWire]
-(BUSINESS WIRE)– DocuSign, the global leader in electronic signature, announced today that the company has secured $47.5 million in funding from premier investors, public funds, and strategic tech-industry leaders. Kleiner Perkins Caufield & Byers led the funding. Accel Partners and a large, global institutional investor joined in the funding round. Comcast Ventures and SAP Ventures provided additional investment joining existing tech industry partners salesforce.com and the National Association of REALTORS®. 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. The company also announced that Kleiner’s Mary Meeker, a noted Internet-industry expert, has joined its board of directors.
DocuSign’s legally binding, secure, cloud-based platform helps consumers and businesses of all sizes and industries collect information and sign documents online – eliminating the hassles, costs, and lack of security in printing, faxing, scanning, and overnighting documents to capture information and signatures. Companies use DocuSign to create better customer experiences and save money by automating and streamlining their business processes.
“This financing demonstrates the value the market places on innovative technologies that drive fundamental business transformation – particularly those with immediate ROI, viral adoption, and nearly unlimited application,” said Keith Krach, chairman and CEO, DocuSign. “DocuSign empowers anyone to sign anything, anywhere, anytime.”
“DocuSign has created a compelling and rapidly growing business by re-imagining an age-old basic service – signing documents,” said Mary Meeker, general partner, Kleiner Perkins. “DocuSign’s easy-to-use eSignature platform is transforming the way documents are processed and delivered, with record speed and efficiency. This financing highlights the appeal of the eSignature Transaction Management market and the value of DocuSign’s global, viral network.”
“We’re investing in DocuSign because electronic signatures have gone from a ‘nice to have’ to a ‘must have’, and DocuSign is the clear global leader in this industry,” said Philippe Botteri, Accel Partners. “We expect DocuSign’s growth to be exponential given the viral nature of their platform and the rapid adoption of mobile devices and tablets which makes DocuSigning that much more convenient.”
Global enterprises, business departments, individual professionals and consumers are standardizing on DocuSign with 60,000 new users joining the DocuSign Global Network every business day. Today, that network includes 20 million users who have DocuSigned more than 150 million documents in 188 countries – including employees at 90% of the Fortune 500. DocuSign is used to finish business faster across nearly every industry – including financial services, insurance, technology, healthcare, manufacturing, communications, real estate, consumer goods and higher education – and every business department – including sales, procurement, HR/staffing, legal, and customer support.
DocuSign’s growing customer base of 1.4 million paying users include 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, 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.comor call 877.720.2040. Visit the DocuSign blog at www.docusign.com/blogand follow DocuSign on Twitter, LinkedInand Facebook.
Keith Krach, Chairman & CEO, DocuSign
“This financing demonstrates the value the market places on innovative technologies that drive fundamental business transformation – particularly those with immediate ROI, viral adoption, and nearly unlimited application. DocuSign empowers anyone to sign anything, anywhere, anytime.”
“We’re pleased to welcome Mary Meeker and her deep business and Internet expertise to our board of directors. DocuSign is very well positioned to accelerate growth and continue our eSignature market leadership as the global standard.”
Mary Meeker, General Partner, Kleiner Perkins Caufield & Byers
“DocuSign has created a compelling and rapidly growing business by re-imagining an age-old basic service – signing documents. DocuSign’s easy-to-use eSignature platform is transforming the way documents are processed and delivered, with record speed and efficiency. This financing highlights the appeal of the eSignature Transaction Management market and the value of DocuSign’s global, viral network.”
“I’m excited to join the board of a dynamic and game changing company like DocuSign. Thanks to very rapid growth of high-speed wireless connectivity on increasingly functional touch-based devices, entrepreneurs are re-imagining and re-inventing businesses at a record pace. DocuSign’s innovative cloud technology is truly disruptive to the slow, costly, and increasingly antiquated ways business has been done. DocuSigning is an inevitable way more and more people will finish business faster – and it’s driving hyper-growth in the eSignature Transaction Management market.”
Philippe Botteri, Accel Partners
“We’re investing in DocuSign because electronic signatures have gone from a ‘nice to have’ to a ‘must have’, and DocuSign is the clear global leader in this industry. We expect DocuSign’s growth to be exponential given the viral nature of their platform and the rapid adoption of mobile devices and tablets which makes DocuSigning that much more convenient.”
Dave Zilberman, Principal, Comcast Ventures
“DocuSign is streamlining eSignature Transaction Management by eliminating the hassle, cost and lack of security with outdated pen and paper signatures. Our infusion of new financing, alongside impressive investors, enables DocuSign to accelerate its growth and drive continued innovation with its SaaS platform.”
Andreas Weiskam, Managing Partner, SAP Ventures
“DocuSign is the clear category leader in the eSignature space. SAP Ventures is excited to be an investor in DocuSign in a time when sending, signing and storing contracts is increasingly automated and happens online. Through our international footprint, SAP Ventures will be able to support DocuSign in its global growth. In addition, we intend to leverage SAP’s unmatched ecosystem of customers and partners to help expand DocuSign’s reach into the enterprise and deeper dive into specific industries.”
Roger Kay, Founder and President, Endpoint Technologies Associates
“This level of commitment from first-rank venture firms, technology partners, and customers flows from and is indicative of DocuSign’s momentum. Electronic signature has reached the mainstream, and DocuSign has achieved significant, sustained growth in its quest to become the standard in eSignature.”
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