Electronic Signature Company DocuSign Raises $27 Million

Posted Dec 8, 2010

Electronic signature company DocuSign has raised $27 million in a third round of funding. DocuSign lets businesses send verified electronic signatures to save time from having to handwrite and fax documents back-and-forth. DocuSign hired two new executives: Roger Erickson and Dustin Grosse.

DocuSign controls about 70% of the total electronic signature market. This round of funding was led by Scale Venture Partners. Other existing investors that participated in this round include Ignition Partners, Sigma Partners, salesforce.com, and Frazier Technology Ventures. Scale Venture Partners managing director Rory O’Driscoll is joining the DocuSign board of directors.