DocuSign Raises $12.4 Million to Fuel Rapid Growth

DocuSign has achieved another major milestone in the company’s history. I am very pleased to announce the closing of our $12.4 million Series C funding round. Joining our strong investment team of Frazier Technology Ventures, Ignition Partners and Sigma Partners is the prestigious investment fund of WestRiver Capital LLC. We are very fortunate to have such a great team of investors backing our company.

These are very exciting times at DocuSign and I’m very proud of our entire team. DocuSign is on a rapid growth path and it’s exciting to see the demand for our eSignature service accelerate rapidly.   We recently celebrated our 5 millionth signature event! During 2005 and 2006 combined we were at 1.2 million signature events. With this funding we will continue to fuel our strong growth through investments in sales, marketing, new product development, and the company’s channel and partner network.  

Most importantly, however, it’s been very rewarding to see the positive impact we are having on our customers’ profitability. We are growing rapidly because our best in class service has such a remarkable ROI for our customers. DocuSign is the clear leader in the Web-based eSignatures market and with this financing we are going to continue to expand that lead.

We have approximately 1,800 corporate customers and more than 300,000 users from leading companies representing a broad range of industries, including Expedia, Land America, RE/MAX, AMICA, Worldspan, Quadrant Homes/Weyerhaeuser, Yamaha, Tektronix and Fidelity National Title. Our mission is to continue to deliver positive impact to our customers including enabling increased revenue, increased close rates, e-signing deals in record time, and eliminating costly paper processes. For example we have customers that report increases in sales close and customer acquisition rates of 200 plus percent while eliminating hundreds of thousands or millions of dollars in paper/pen expenses.

We’re also very pleased that DocuSign and our customers are having a positive impact on the environment by eliminating the paper process.

It’s good news this week at DocuSign and we’re looking forward to more great things ahead. You can check out TechCrunch’s take on our announcement here. Nick Gonzalez has his own DocuSign signature now, so don’t be left behind.