RISMEDIA, December 10, 2010—DocuSign announced it has closed $27 million in Series C financing. The investment was led by Scale Venture Partners with continued participation from prior investors—Sigma Partners, Ignition Partners, Frazier Technology Ventures and salesforce.com.
In addition, DocuSign also announced it has added two high-tech veterans to the company’s leadership team. Roger Erickson, formerly senior vice president of technology solutions and services at Autonomy ZANTAZ, will join as vice president of customer success; and Dustin Grosse, formerly sales and marketing general manager for Microsoft’s Field Readiness team and the Microsoft Office Unified Communications Group, will join as senior vice president, chief marketing and business development officer.
These two announcements represent a commitment to the continued expansion of DocuSign’s core electronic signature solutions for individuals and businesses, such as DocuSign for Salesforce, DocuSign Enterprise and DocuSign Realtor Edition. In addition, these investments will further fuel the company’s new cloud-based technology and services scheduled for 2011 and beyond.
Rory O’Driscoll, managing director of Scale Venture Partners, will join DocuSign’s Board of Directors. “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 O’Driscoll. “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.”
Scale Venture Partners has a strong track record of investing in software as a service (SaaS) companies capitalizing on technology shifts to drive dramatic growth. The firm’s current portfolio includes SaaS companies such as Box.net, and ExactTarget, and other technology trailblazers such as BrightRoll, HubSpot, LiveScribe, Scale Computing and uTest.
“Roger, Dustin and Rory’s experience will be a tremendous asset to DocuSign, and we are delighted to have them join our team,” said Steve King, president and CEO of DocuSign. “Their strengths, combined with the strategic funds from existing investors and Scale Venture Partners, will help extend our leadership in the fast growing electronic signature market.”
For more information, visit www.docusign.com.