Real Estate Move: DocuSign Buys Cartavi, Strengthens Ties with zipLogix
Electronic signatures company DocuSign is beefing up its real estate line with the acquisition of Cartavi and a tighter partnership with zipLogix, meant to enable transactions using any device.
DocuSign—founded in Seattle in 2004, but with its headquarters now in San Francisco—has had a partnership with Cartavi, based in Naperville, IL, for the last year and a half to integrate electronic signature technology with Cartavi’s online real estate transaction management and collaboration software.
The acquisition comes amid a wave of consolidation in real estate software, including Trulia’s plan announced last week to buy Market Leader for $355 million, and Zillow’s shopping spree.
In addition, DocuSign says it is adding more capabilities to real estate forms from existing partner zipLogix, a joint venture of Real Estate Business Services and the National Association of Realtors, based in Fraser, MI.
“Combining Cartavi’s technology and zipLogix’s dominant forms management with DocuSign’s eSignature solution advances our leadership in real estate by further streamlining transactions to make it easier, faster, and more convenient than ever to complete deals,” DocuSign CEO Keith Krach said in a statement.
Products from all three companies can be used together on any device. The companies plan to work on further integration.
Terms of the Cartavi acquisition were not disclosed. Cartavi, launched in 2011, raised $1.2 million last October in a Series A round led by I2A Fund, with several other investors participating.
DocuSign last summer attracted a $47.5 million investment from Kleiner Perkins Caufield & Byers, Accel Partners, Comcast Ventures, and others.