DocuSign Raises $27M, Hires New Execs To Ramp Up E-Signature Business

12/8/10Follow @xconomy

Scribbling your John Hancock on a piece of paper is so 20th century, now that companies are coming along like Seattle-based DocuSign.

DocuSign is making a significant strategic move ahead in the electronic signature business. The company said today it has raised $27 million in a Series C venture round led by Scale Venture Partners and including prior investors Sigma Partners, Ignition Partners, Frazier Technology Ventures, and salesforce.com.

The company said it is also adding a pair of new executives to its management team—Roger Erickson will be vice president of customer success, while Dustin Grosse is joining as chief marketing and business development officer.

DocuSign was founded in 2003 and led by CEO Steve King, has raised more than $30 million prior to today’s news. The new shot of cash is supposed to help DocuSign continue tapping into the market for e-signatures for business and individual customers, specifically its products called DocuSign for Salesforce, DocuSign Enterprise, and DocuSign Realtor Edition.

“We’re investing because DocuSign’s technology helps its customers significantly accelerate sales and reduce costs, and that is causing the market to grow dramatically,” said Rory O’Driscoll of Scale Venture Partners, in a statement. “DocuSign runs the industry’s most reliable e-signature cloud platform, serves thousands of blue chip customers, and continues to extend its solution portfolio and leadership capabilities.”

O’Driscoll talked about Scale’s investment strategy—helping startups pass through the middle stages of growth—in an interview in July with Xconomy’s San Francisco editor, Wade Roush.

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