DocuSign adds another $45M to its Series F round

Steven Loeb · May 27, 2015 · Short URL:

The document management company has now raised over $500M in total venture funding

Only two week after document management company DocuSign announced that it had raised a $233 million funding round, bringing its valuation to $3 billion, the company is back once again with even more money in its coffers.

The company has added another $45 million to its Series F round, it was revealed on Wednesday, from new investors Dell and Intel Capital, who joined Brookside Capital and Bain Capital Ventures to bring the round to $278 million.

With this funding, DocuSign has now raised over $500 million in total funding. Previous investors in the company include Google Ventures, SAP Ventures, VISA, Sands Capital Ventures, and Iconiq Capital, among many others.

The company says that it will use the funding to "fuel accelerated worldwide expansion of The DocuSign Global Trust Network."

When DocuSign raised the $233 million portion of the round, Gregor Perotto, Head of Corporate Marketing at DocuSign, told me that the company would use the funding for three things,  the first being a continuation of its global expansion, specifically in Europe, Asia and Latin America.

Over the last couple of years, the company expanded to offices in London, and Paris, and recently announced one in Dublin as well. It plans to continue expanding across Europe, like with its acquisition of ARX earlier this year.

There will also be growth in the Asia Pacific region. DocuSign has an office in Sydney and a presence in Melbourne, and is looking to expand to Singapore. Japan is also on its horizon, as it recently look money from Japanese companies Recruit Holdings, NTT Finance, Mitsui and MKI.

DocuSign currently employes 1,300 people, and will be hiring as it expands, but it does not have a set number of employees in mind for that growth.

Finally, it will also be expanding into Brazil, which it started with the acquisition of digital signature platform and digital certificate authority Comprova last year.

We’re pleased to have the biggest technology brands invest in DocuSign as part of The DocuSign Global Trust Network," Keith Krach, Chairman & CEO, of DocuSign, said in a statement.“These strategic engagements will help bring the power and value of DocuSign’s DTM platform to more countries, companies and customers around the world.”

In addition, the company said it would use the funding continue to invest in its digital transaction management platform, having already invested roughly $500 million to deliver Bank Grade Security, Carrier Grade Availability and interoperability.

Founded in 2004, DocuSign is a transaction management company. It allows its customers to close contracts in a secure environment, provides authentication on the front end, as well as integrations, which enables customers to pull data from those sources, including SAP, Google and Salesforce.

The company also does templates, so that clients with several millions of customers can send updates and see who approved them. And it provides a legally binding audit trail, to see who signed what and where.

It is used by a number of different verticals, including  financial services, insurance, technology, healthcare, government, manufacturing, communications, real estate, retail, consumer goods, higher education and non-profits.

The company now has more than 100,000 companies as customers, more than 50 million of users in 188 countries, and more than 50,000 new unique users joining The DocuSign Global Trust Network each day. Customers include Morgan Stanley, HP, Microsoft, Salesforce, Walmart and Tesla. The company also counts 10 of the top 15 U.S. financial services companies as customers, 13 of the top 15 U.S. Insurance carriers, and 12 of the top 15 global pharmaceutical companies as customers.

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