Electronic signature cloud platform DocuSign announced today it has closed $27 million in third round financing and added two key hires to its executive team.
DocuSign creates technology to let businesses to replace handwritten signatures with electronic ones, so contracts can be sent online.
The Seattle-based company had hired Roger Erickson, formerly senior vice president of technology solutions and services at Autonomy ZANTAZ, as vice president of customer success' and Dustin Grosse, formerly sales and marketing general manager for Microsofta4‚¬a4„s Field Readiness team and the Microsoft Office Unified Communications Group, as senior vice president, chief marketing and business development officer. Steve King, who the company hired last January and who previously served as an executive at E-Trade, remains the companya4‚¬a4„s CEO.
DocuSign, which dubbed itself &''the fastest way to get a signature&'', now says it controls more than 70 percent of the electronic signature market.
DocuSign also conducts data collection, secure document/data storage and retrieval, and real-time negotiation and collaboration tools through its DocuSign for Salesforce, DocuSign Enterprise and DocuSign Realtor Edition products.
All of the companya4‚¬a4„s products are accessible from any Internet-connected device, including smartphones and iPads, support nearly any document and form, and offer broad user authentication options.
DocuSign also added more security through a partnership with Authentify in June, where users confirm their identify over the phone via a biometric voiceprint.
The company had previously raised a total of $38.9 million in funding from Frazier Technology Ventures, Ignition Partners, Second Century Ventures, Sigma Partners and WestRiver Capital.
This investment round was led by Scale Venture Partners with continued participation from prior investors Sigma Partners, Ignition Partners, Frazier Technology Ventures and salesforce.com.
As part of the deal,‚ Rory Oa4‚¬a4„Driscoll, managing director of Scale Venture Partners, will join DocuSigna4‚¬a4„s board of directors.
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Companies: authentify, autonomy zantaz, DocuSign, E Trade, Frazier Technology Ventures, Ignition Partners, Microsoft, Salesforce.com, Scale Venture Partners, Second Century Ventures, Sigma Partners, WestRiver Capital
People: dustin grosse, roger erikson, rory o&'driscoll, steve king
Companies: authentify, autonomy zantaz, DocuSign, E Trade, Frazier Technology Ventures, Ignition Partners, Microsoft, Salesforce.com, Scale Venture Partners, Second Century Ventures, Sigma Partners, WestRiver Capital
People: dustin grosse, roger erikson, rory o&'driscoll, steve king
Riley McDermid is a contributing reporter to VentureBeat. She was previously the online editor at institutional investing and trading forum Markets Media, which she joined in 2008 from Dow Jones/MarketWatch in New York. Her work has appeared in the The New York Times, the Associated Press, Portfolio Magazine, The Wall Street Journal, and Barrona4‚¬a4„s. She has won awards from the American Society of Business Publishers and Editors, the Magazine Association of the Southeast, the Mississippi Press Association and the Atlanta Press Club, and was a finalist for the Pacemaker Prize for excellence in news reporting.
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