DocuSign, an e-signature service, has raised $2 million from Second Century Ventures. The venture firm is the investment fund of the National Association of Realtors. This brings DocuSign’s total funding up to $30 million.
DocuSign, which was founded in 2003, allows companies to get legally binding signatures quickly over the internet instead of over the fax or mail. DocuSign certifies digital signatures over the web, acting as a intermediary who holds the documents and verifies the identity of the signature. The digital signature business was really opened up during the turn of the century with that passing of the UETA and ESIGN acts, which clarified the legal grounds for electronic signatures nationwide. To date, more than 48 million signature events have been executed using DocuSign and service currently has 2.5 million users.
DocuSign, an e-signature service, closed $5 million in Series D funding from Frazier Technology Ventures, Ignition Partners, Sigma Partners, and West River Capital LLC. The funding follows a Series C investment of $12.4 million in 2007 from the same investors.
DocuSign, which was founded in 2003, allows companies to get legally binding signatures quickly over the internet instead of over the fax or mail. DocuSign certifies digital signatures over the web, acting as a intermediary who holds the documents and verifies the identity of the signature. The digital signature business was opened up during the turn of the century with that passing of the UETA and ESIGN acts, which clarified the legal grounds for electronic signatures nationwide. To date, more than 25 million signature events have been executed using DocuSign. Competitors include EchoSign, and VeriSign.
Electronic agreements have greased the wheels of commerce, causing businesses to push a lot of digital paper these days. Several startups have popped up to help manage these contracts (mostly through eSignatures): EchoSign, DocuSign, VeriSign, Entrust, amongst others. And people are using them. DocuSign claims to have completed over 5 million eSignatures alone.
Austin-based Mumboe, originally founded in 2005 as FineTooth, has recently relaunched as another SAS contract management tool. It is similar to Negonation, in that it doesn’t handle eSignatures, but the contracts themselves. FineTooth’s original software solution used natural language analysis to help manage contracts by extracting the important details from contracts. Mumboe, short for the mumbo jumbo found in most contracts, lets companies create contracts from templates, share, search, and track important milestones. The company currently has a three month free trial.
DocuSign, an eSignature service, has raised a $12.4 million series C led by new investor WestRiver Capital, LLC and their existing investors Ignition Partners, Frazier Technology Ventures and Sigma Partners. It follows a Series B investment of $10 million in April 2006 from Frazier, Ignition, and Sigma. DocuSign, which has been around since 2003, enables companies to get legally binding signatures quickly over the internet instead of over the fax or mail. The whole digital signature business was really opened up during the turn of the century with that passing of the UETA and ESIGN acts, which clarified the legal grounds for electronic signatures nationwide.
DocuSign certifies digital signatures completely over the web, acting as a intermediary who holds the documents and verifies the identity of the signature. To get a document digitally signed, you upload the documents to DocuSign (works with any document you can print), select the parts needing a signature, and create an authentication code for the transaction. DocuSign then sends an email to the recipient with a link to the documents where the signer can log in to their DocuSign account, enter the authentication code, and simply click the signature points to sign the documents. The person’s eSignature (example right) and ID number are then posted in those points of the document, and the signed documents sent back to the sender. There are more details breaking down the transaction on their product page.
Competitors include EchoSign, VeriSign, Entrust and others.
If you have doubts that people are using eSignatures, you should know that, to date, DocuSign has completed over 5 million of them. Their clients currently include Expedia, Land America, RE/MAX, AMICA, Worldspan, Sony, Weyerhaeuser, Yamaha, Tektronix, and Fidelity National Title.
