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DocuSign, It Is Official, Its Success Has Been Validated by the Market
DocuSign is yet another successful San Francisco Startup, but it is certainly worth noting. DocuSign is unique among startups because it does not use social media, or capitalize on systems set up by Apple, Google, or Amazon. DocuSign makes software which allows you to upload and send documents for electronic signature easily. Once uploaded, the people whom the documents concern can easily access them, and sign the,. The uploader is them able to easily manage the documents. The uploader can check its status, send reminders, check for audits, and most importantly store the documents online securely. It is for use by corporations. Its customers already include some of the largest and most established companies in the world. Among them are Bayer, Sony, CenturyLink, Siemens, Salesforce, Yahoo!, Comcast, Boston Scientific, and McKesson.
DocuSign has made several large venture deals. The latest one values the company at a huge USD 3 billion as it has raised over USD 233 million in a single investment round. This is over half of the USD 440 million that is has already raised since its founding. Since its last investment round where it raised USD 85 million a year ago, its valuation has almost doubled from the previous USD 1.6 billion value estimated over a year ago. DocuSign finally seems to do something that we should have been able to do along time ago. This thing is to eliminate paper and pen when it comes to official documents. DocuSign saves time, a lot of time, and therefore a lot of money for companies. This is certainly why Brookside Capital, Bain Capital Ventures, Wellington Management, and Generational Investment Management have all jumped in to lead this latest investment round to help DocuSign grow.
DocuSign is part of a recent trend in very large funding rounds of several tech companies. These include MarkLogic, NerdWallet, Uber, and Affirm. While there are fears abound about a tech bubble, these fears are largely unfounded. This is not a repeat of 2001. The fundamentals are totally different. The fact is that technology is the only area where we are innovating these days.
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