DocuSign, the electronic signature platform based out of San Francisco, recently nabbed $47.5 in Series D funding, led by Kleiner Perkins Caufield & Byers. Mary Meeker, known for her annual Internet Trends reports on the mobile space, has joined the company’s board.
“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.”
Also joining the round were Accel Partners and an unnamed large global institutional investor, as well as strategic tech partners SAP Ventures and Comcast Ventures who came in alongside existing partners salesforce.com and the National Association of Realtors.
Founded in 2004, DocuSign provides a cloud-based platform that enables users to securely sign documents online. Highly secure, the company’s solution is used to process search warrants by the Butte County District Attorney’s Office in Northern California. Warrants can sometimes include the name of informants, so security is essential. More than 20 million people have used DocuSign to sign 150 million documents, signing more than 150,000 documents daily, according to the company. The company adds 60,000 new customers daily, and serves users in 188 countries.
“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.”
Customers include HP, American Airlines, Cisco, LinkedIn, DuPont, eBay, Comcast, Xerox, Yahoo!, and Yamaha.
“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.”
The company will use the investment towards research and development, new market extension, and international expansion, particularly in Europe.
This latest investment brings DocuSign’s total invested capital to $115 million.