Cloud Computing: DocuSign Raises $47.5 Million D Round
July 28, 2012
DocuSign, which claims to be the global standard for legally binding, secure electronic-signatures, has raised a $47.5 million D round led by Kleiner Perkins, an investment that will put Kleiner partner Mary Meeker, once Wall Street’s leading Internet analyst, on its board.
Accel Partners and Salesforce.com, Comcast Ventures, SAP Ventures and the National Association of Realtors also participated, the cloud-based San Francisco operation said.
The round brings total investment in the digital platform that replaces slow, expensive paper transactions to $104 million…
The widgetry is accessible from any Internet-connected device and is supposed to support virtually any document and form type. It provides broad user authentication options, data collection, secure document and data storage and retrieval as well as real-time negotiation and collaboration tools.
It claims 20 million users have signed more than 150 million documents in 188 countries and that it adds 60,000 new customers a day.
The money is earmarked for R&D and expansion into Europe and new fields like government contracts and search warrants.
The company believes electronic signatures will become dominant. It reckons it accounts for 70% of the digital signatures in the world but doesn’t make money.