December 14, 2007

Demand for Electronic Signatures Fuels Strong Growth for DocuSign in 2007

 

New executive hires, increased sales, $14 million in new funding, over 6 million eSignature events highlight successful year

SEATTLE, WA (December 14, 2007) – DocuSign, the leading Web-based electronic signature service, has seen a dramatic rise in the adoption of its eSignature service during 2007. The company’s sales have more than quadrupled during 2007. DocuSign’s eSignature service has delivered more than 6.4 million signature events, a 300 percent increase over 2006. Currently the company has more than 1,800 customers and over 300,000 users who are revolutionizing the process to get documents signed and executed.

An enterprise-class SaaS (software as a service) solution, DocuSign is easy to use and helps companies eliminate pen and paper-based bottlenecks, creating significant business-process improvements for its customers and helping them drive revenue much faster. During 2007, DocuSign has signed a large number of new customers across many diverse industries, including Expedia in the online travel industry, Aloha Airlines, DebtXS in the consumer financial services market, Allied Home Mortgage in the mortgage industry and Upside Software in the software industry.

DocuSign’s customers include two of the Fortune 25’s best known companies as well as Amica, Fidelity National Financial, Great Lakes Educational Services, Land America, Sony, Weyerhaeuser, Worldspan/Travelport, Yamaha and many other leading companies that are using DocuSign’s eSignature service to close deals faster, lock out the competition and create more competitive business models. Many of DocuSign’s customers have abandoned or greatly reduced their use of paper, printers, fax machines and overnight mail services that largely exist for the purpose of collecting wet-ink signatures on paper.

DocuSign’s paperless electronic signature process has also been recognized as a significant component of its customers’ efforts to protect the environment.

During 2007, DocuSign also expanded its partner program to include such industry-leading companies as BioPassword, Upside Software, Allied Solutions, Document Systems and Xwarenet which join existing partners Fidelity National Financial, LandAmerica, ZipForm and others.

DocuSign, which analyst firm Gartner Group selected for its “Cool Vendor” list for the second consecutive year, raised $14 million in financing from blue-chip investors Frazier Technology Ventures, Ignition Partners, Sigma Partners and WestRiver Capital, LLC. The funding is earmarked to help drive sales and marketing activities, new product development, and the company’s channel and partner network.

In addition, the company named a new CEO and recruited three seasoned senior executives to lead the company’s engineering, sales and marketing activities.

“We have seen incredible growth at DocuSign over the past 12 months due to the fact that our customers receive immediate, highly impactful benefits by using our eSignature service,” said Matthew J. Schiltz, CEO and President of DocuSign. “It’s been very exciting to see our new customers replace their paper signing process with DocuSign and empower their businesses to grow faster and run more efficiently.”

“For example, we have many customers who have tripled their close rates on sales contracts, and many customers who have cut their time to obtain important business contacts by over 98 percent,” Schiltz said. “DocuSign has experienced a record year in 2007 because our innovative eSignature service is a game-changing technology; it has immediate and dramatic positive impacts on our customers’ profitability and growth rates. We are on a trajectory to make 2008 another record year for DocuSign and our customers.”

For more information about DocuSign, please visit the company’s website and take a short online demo at http://www.docusign.com/what_we_do/docusign_in_action/.

About DocuSign
DocuSign offers a Web-based electronic signature service that provides the simplicity, speed and security required to electronically sign and store documents. Designed from the ground up for enterprise-class usage, this service integrates the technical infrastructure and legal compliance needed to operate an end-to-end electronic signing service that replaces the old pen and paper process. DocuSign customers span a variety of industries and range from the largest corporations to the smallest branch offices. These customers trust DocuSign to help them achieve increased revenue and sales close rates, decreased costs, and acceleration in business velocity. DocuSign also offers a direct positive impact on our global environment by reducing paper consumption and transportation emissions. For more information please visit www.docusign.com. DocuSign and the DocuSign logo are registered trademarks of DocuSign, Inc.