Wed, 05/03/2014 - 10:11
DocuSign has raised an additional USD85m with the vast majority from large institutional public funds and the balance from existing 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.
DTM is a new category of cloud services which digitally manages document-based transactions. DTM removes friction inherent in processes that involve people, documents, and data to create faster, easier, more convenient and secure transactions.
“We have the opportunity to change the way business is done for companies large and small,” says 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.”
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.
The company’s most recent financing brings its total funding to USD210m. In addition to several large institutional public funds, DocuSign 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 calibre 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,” says 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.”
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