DocuSign Raises $233M Series F At $3B Valuation
DocuSign, a company best known for its work with secure identity and authentication, has raised a $233 million Series F round of capital, at what a source said was a roughly $3 billion valuation.
The dollar amount — the company has now raised over $440 million — may seem staggering, but not to DocuSign’s CEO Keith Krach, who described DocuSign’s addressable business opportunity “one of the biggest markets [he’s] ever seen” during a phone call with TechCrunch.
Krach declined to provide any financial guidance regarding the company’s current revenue, margins, and the like, but he cited the company’s addition of 50,000 new unique users joining its network per day as a key usage statistic. Like the new Microsoft, DocuSign appears to view revenue as a lagging indicator of performance.
DocuSign has three goals, Krach told TechCrunch: Grow its revenue, ramp towards profits, and build its global identity standard. To that end, the new capital will be used at least in part to fuel international expansion. The CEO noted several recent international acquisitions of more than 100 employees in recent years during a phone call.
Krach declined to comment on a potential IPO path saying that the company would view an IPO as “solely a finance event.” The implication there is that if DocuSign needs additional capital at later date, it could reach for the public markets. But with a fresh quarter billion or so, that date is likely not very soon.