DocuSign Secures $27 Million Investment, Appoints New Key Executives
Fastest Growing Electronic Signature Solutions Company Expands its Leadership in Cloud Services
DocuSign® (www.docusign.com) announced today 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. 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.
Steve King, president and CEO of DocuSign, shares:
Roger, Dustin and Rory's experience will be a tremendous asset to DocuSign, and we are delighted to have them join our team. 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.
DocuSign's New Executives
Dustin Grosse comes to DocuSign with a strong technology background as a former sales and marketing general manager for Microsoft's Field Readiness team and the Microsoft Office Unified Communications Group. Grosse joined Microsoft through its 2003 acquisition of PlaceWare Web Conferencing, an early SaaS solution pioneer where he was senior vice president of Marketing and Business Development and led the company to be one of Silicon Valley's five fastest growing companies in 2002.
Grosse has held other executive sales and marketing positions with Voxeo, OnFiber and Covad Communications. Earlier in his career, he led strategy, sales and marketing consulting engagements with McKinsey & Company, and worked in brand management at Procter & Gamble. Grosse earned an MBA from Yale's School of Management and a Bachelor of Science in Economics from the University of California, Riverside.
Prior to DocuSign, Roger Erickson held the position of senior vice president of technology solutions and services at Autonomy ZANTAZ, managing relationships with ZANTAZ's largest customers. Erickson was responsible for building the largest private cloud archive of more than 17 Petabytes of customer data, while becoming the market leader in email archiving and electronic discovery.
He was CEO for Altris Software Inc., an international provider of enterprise knowledge management systems. At Altris, he also served in other key senior management positions. Erickson holds a Master in Science in Computer Engineering from the University of California, Santa Barbara.