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.
Quote Sheet
DocuSign
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.”
Investors
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.”
Others
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.”
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50340361&lang=en
Contacts
TallGrass PR
Jennifer Fleming, 605-275-4075
jennifer.fleming@tallgrasspr.com
or
DocuSign, Inc.
Gregor Perotto, 206-576-8081
media@docusign.com
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