As critical business documents move online, DocuSign has emerged as a leading way to handle signatures online and then pass along contracts and business plans securely, with more than 50 million users across 100,000 companies trusting it with their information.
That’s allowed DocuSign to ink its own major contract–a $233 million funding round from mostly existing investors that more than doubles its capital raised to date. Though the company declined to comment on its valuation, DocuSign is valued at $3 billion after the raise, according to a source with knowledge of the funding. That’s about twice the company’s valuation of $1.6 billion a year ago.
“The name of the company has become a verb,” says CEO Keith Krach. “But it’s interesting because it’s only ever been about 5% of what we do–it’s a metaphor for our powerful approval engine that manages the whole process.”
What DocuSign wants to be known as is the manager of the entire document process, including the signatures but more importantly handing security like encryption and permissions and compliance as that document then makes its way through a company.