San Francisco, California-based DocuSign, a provider of electronic signature technology and services, today announced that it has raised a massive $47.5 million in funding to help accelerate growth.
The funding was led by Kleiner Perkins Caufield & Byers, with Accel Partners and an unnamed “large, global institutional investor” also participating in the round.
The company said it would use the funds to accelerate growth of the DocuSign Global Network through R&D, deeper vertical industry solutions, and faster international expansion.
DocuSign says its legally binding, secure, cloud-based platform helps consumers and businesses collect information and sign documents online – eliminating the hassles, costs, and lack of security in printing, faxing, scanning, and overnighting documents to capture information and signatures.
“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.”
“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.”
The company claims that 60,000 new users join the DocuSign Global Network every business day, and that it currently has 1.4 million paying customers including some of the largest corporations from around the globe.
In addition to the funding news, the company also announced that Kleiner’s Mary Meeker has joined its board of directors.
The company noted that Comcast Ventures and SAP Ventures provided additional investment joining existing tech industry partners Salesforce.com and the National Association of REALTORS.
