Docusign

Docusign was founded in 2003 by Court Lorenzini, Tom Gonser, and Eric Ranft.{{cite news|title=E-Signature Leader DocuSign Couldn't Find A Boss Two Years Ago. Now It's Worth $6 Billion After IPO.|url=https://www.forbes.com/sites/alexkonrad/2018/04/27/docusign-ipo|work=Forbes|date=April 27, 2018|last=Konrad|first=Alex}} Tom Gonser came up with the idea when he was CEO of NetUpdate, a company he founded in 1998. Throughout its history, NetUpdate had acquired several companies, including an e-signature start-up in Seattle called DocuTouch, funded by Timberline Venture Partners, Bill Kallman, and Jeff Tung with $4M. Timberline invested another $1 million in the merger into NetUpdate.[http://www.internetnews.com/bus-news/article.php/411921/Online+Signatures+DocuTouch+Introduces+DocuSign.htm Online Signatures: DocuTouch Introduces DocuSign] Internet News July 11, 2000[http://www.nationalmortgagenews.com/dailybriefing/2001_162/-394526-1.html?zkPrintable=true NetUpdate Buys DocuTouch] {{Webarchive|url=https://web.archive.org/web/20140108045716/http://www.nationalmortgagenews.com/dailybriefing/2001_162/-394526-1.html?zkPrintable=true |date=2014-01-08 }} National Mortgage News August 22, 2001 DocuTouch held patents on Web-based digital signatures and collaboration. With internal support from Gonser, Lorenzini negotiated the purchase of certain DocuTouch assets from NetUpdate and started Docusign. Gonser then left the NetUpdate Board to focus on Docusign full-time.

The firm began sales in 2005 when zipForm, now zipLogix, integrated Docusign into its virtual real estate forms. According to Docusign, mock trials featuring licensed attorneys and judges highlighted the admissibility of Docusign contracts in court based on encrypted audit logs of signature events, and the impossibility of changing contracts.[http://www.docusign.com/blog/2009/07/10/work-smarter-with-a-tool-your-mom-can-use/ Work Smarter with a Tool Your Mom Can Use] {{webarchive |url=https://web.archive.org/web/20120707210947/http://www.docusign.com/blog/2009/07/10/work-smarter-with-a-tool-your-mom-can-use/ |date=July 7, 2012 }} Bui, An DocuSign July 10, 2009

In January 2007, Court Lorenzini stepped down as CEO and board chairman and was replaced as CEO by Matthew Schiltz,{{Cite web|url=https://www.businesswire.com/news/home/20070125005791/en/DocuSign-Names-Matthew-J.-Schiltz-CEO-President|title=DocuSign Names Matthew J. Schiltz as CEO and President|date=2007-01-25|website=www.businesswire.com|language=en}} who served in that role until January 2010.{{Cite web|url=https://www.bizjournals.com/seattle/blog/techflash/2010/01/docusign_taps_new_ceo.html|title=DocuSign taps new CEO|last=Cook|first=John|date=27 January 2010|website=Portland Business Journals|access-date=2020-03-27}} Steven King replaced Schultz as CEO and moved the corporate headquarters from Seattle to San Francisco. Keith Krach became Docusign's board chairman in January 2010 and its CEO in August 2011.{{cite web|url=http://tech.fortune.cnn.com/2012/10/09/docusign-keith-krach/|title=Keith Krach: A dot-com CEO returns|work=Fortune|access-date=20 August 2015|url-status=dead|archive-url=https://web.archive.org/web/20170106104147/http://tech.fortune.cnn.com/2012/10/09/docusign-keith-krach/|archive-date=6 January 2017}}

Docusign began referring to its service as “eSignature Transaction Management”. By the end of 2010, the company had handled 73 percent of the SaaS-based electronic signature market, with 80 million signatures processed.[https://www.pcmag.com/article2/0,2817,2365899,00.asp DocuSign Releases Updated Version of E-Signature Software] Hachman, Mark PC Magazine June 30, 2010 Scale Venture Partners led an investment round of $27 million in December 2010.[http://www.xconomy.com/seattle/2011/01/28/washington-startups-see-spike-in-investing-dollars-in-december/?single_page=true Washington Startups See Spike in Investing Dollars in December] Kutz, Erin Xconomy January 28, 2011

Docusign opened an office in London, England, in September 2011.{{cite web |url=http://pevc.dowjones.com/article?pid=32&an=DJFVW00020110901e79200105&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%3a80%2farticle%3fpid%3d32%26an%3dDJFVW00020110901e79200105 |title=DocuSign Opens First International Office, In London |last=Gage |first=Deborah |work=Dow Jones Private Equity & Venture Capital |date=September 2, 2011 |access-date=February 8, 2013 |archive-url=https://web.archive.org/web/20140108031009/http://pevc.dowjones.com/article?pid=32&an=DJFVW00020110901e79200105&ReturnUrl=http%3a%2f%2fpevc.dowjones.com%3a80%2farticle%3fpid%3d32%26an%3dDJFVW00020110901e79200105 |archive-date=January 8, 2014 |url-status=dead }} In the same year, Docusign opened an office in San Francisco that now functions as its global headquarters.{{Cite web|url=https://moneyinc.com/docusign/|title=The Impressive Rise of DocuSign|last=Berman|first=Nat|date=2016-10-28|website=Money Inc|language=en-US|access-date=2020-03-27}}

Docusign signed an agreement with PayPal in April 2012 that allowed users to capture signatures and payments in a single transaction.[https://thenextweb.com/insider/2012/04/11/paypal-partners-with-docusign-to-help-businesses-collect-signatures-for-online-payments/ PayPal partners with DocuSign to help businesses collect signatures for online payments] Brian, Matt The Next Web April 11, 2012 Similar partnerships with Salesforce[https://web.archive.org/web/20120707003836/http://www.reuters.com/article/2009/11/05/idUS146373+05-Nov-2009+BW20091105 DocuSigns Delivers Close it in the Cloud! Integrated ESIGN Solutions to Salesforce] Reuters November 5, 2009 and Google Drive[https://www.zdnet.com/article/google-drive-kicks-off-with-docusign-integration/ Google Drive Kicks Off with DocuSign Integration] King, Rachel ZDNet April 24, 2012 preceded the PayPal agreement.

On January 10, 2013, Docusign and Equifax announced a partnership to simplify electronic delivery of the Requests for Transcript of Tax Return Form 4506-T to the United States Internal Revenue Service. Under the partnership, Equifax allows lenders to use Docusign to securely send requests to loan applicants. Docusign andHelft, Miguel . "DocuSign raises $47.5 million, adds Mary Meeker to board," Fortune. Retrieved 24 March 2014. Equifax were among 14 firms that participated in a nine-month feasibility study of electronic signatures for 4506-T forms in 2011.[http://www.dailymarkets.com/stock/2013/01/10/equifax-and-docusign-help-the-irs-accelerate-forms-processing-with-esignature/ Equifax and Docusign Help the IRS Accelerate Forms Processing With eSignature] PR Newswire Daily Markets January 10, 2013 {{webarchive |url=https://web.archive.org/web/20140108032217/http://www.dailymarkets.com/stock/2013/01/10/equifax-and-docusign-help-the-irs-accelerate-forms-processing-with-esignature/ |date=January 8, 2014 }}

In October 2015, Keith Krach announced he would step down as CEO once a search for a new CEO was completed.{{cite web|last1=Swisher|first1=Kara|author-link=Kara Swisher|title=DocuSign CEO to Step Down After New CEO Search Is Complete|url=http://recode.net/2015/10/09/docusign-ceo-to-step-down-after-new-ceo-search-is-complete/|website=www.recode.net|date=9 October 2015|access-date=14 October 2015}}

In January 2017, veteran software executive Daniel Springer was named the new CEO.{{Cite web|url=https://techcrunch.com/2017/01/18/a-new-ceo-for-docusign/|title=A new CEO for DocuSign|last=Roof|first=Katie|website=TechCrunch|date=18 January 2017 |access-date=2017-01-19}}{{Cite news|url=https://www.forbes.com/sites/alexkonrad/2017/01/18/docusign-names-responsys-vet-dan-springer-ceo/#3266cca15a18|title=DocuSign Names Former Responsys Chief As New CEO, Ending A Lengthy Search|last=Konrad|first=Alex|newspaper=Forbes|access-date=2017-01-19}}

Docusign ranked number 6 on Fast Company's Most Innovative Enterprise Tech Companies of 2022, with an overall market share of 61%.{{Cite web |last=Woodruff |first=Jay |date=2022-03-08 |title=The 10 most innovative enterprise companies in 2022 |url=https://www.fastcompany.com/90724396/most-innovative-companies-enterprise-2022 |access-date=2022-03-09 |website=Fast Company |language=en-US}}

On June 21, 2022, Daniel Springer was replaced as CEO by Mary Agnes "Maggie" Wilderotter,{{Cite web |date=2022-06-21 |title=DocuSign Board of Directors Announces Leadership Changes for Next Phase of Growth |url=https://www.docusign.com/press-releases/docusign-board-of-directors-announces-leadership-changes-for-next-phase-of-growth |access-date=2022-07-18 |website=DocuSign |language=en-US}} and later Allan Thygesen as CEO on September 22, 2022. Thygesen assumed office on October 10.{{Cite web |last=Novet |first=Jordan |title=DocuSign names former Google executive Allan Thygesen as new CEO |url=https://www.cnbc.com/2022/09/22/docusign-names-former-google-executive-allan-thygesen-as-new-ceo.html |access-date=2022-09-22 |website=CNBC |date=22 September 2022 |language=en}}

In April 2024, the company announced a significant expansion of its company strategy, opening up a new SaaS category — Intelligent Agreement Management — and launching Docusign IAM, an Intelligent Agreement Management platform and new line-of-business-focused applications to lead that category.{{Cite web |date=2024-04-11 |title=Docusign unveils Intelligent Agreement Management platform to transform business contracts |url=https://siliconangle.com/2024/04/11/docusign-unveils-intelligent-agreement-management-platform-transform-business-contracts/ |access-date=2024-06-05 |website=SiliconANGLE |language=en-US}}{{Cite web |date=2024-04-11 |title=Introducing the New Docusign, the Intelligent Agreement Management Company |url=https://www.docusign.com/blog/new-docusign-intelligent-agreement-management |access-date=2024-04-11 |website=www.docusign.com |language=en-US}}

In 2004, Docusign raised $4.6 million from Ignition Partners and Frazier Technology Ventures.[http://www.seattlepi.com/news/article/Digital-signature-firm-raises-4-6-million-1147169.php Digital signature firm raises $4.6 million] Cook, John Seattle Post-Intelligencer June 14, 2004 In 2006, Sigma Partners became the largest shareholder, a position it held at the time of the IPO, with returns over $700 million.{{Cite news|url=https://www.bloomberg.com/news/articles/2018-04-27/twelve-years-later-docusign-s-big-believer-gets-his-glory/|title="Twelve Years Later, DocuSign's Big Believer Gets His Glory|last= Chapman|first=Lizette |work=Bloomberg|date=27 April 2018 |accessdate=July 7, 2023}} Between 2006 and 2009 Docusign raised $30 million that allowed the firm to add corporate clients and process 48 million signatures.[http://www.seattlepi.com/business/xconomy/article/DocuSign-Scores-5M-More-1303824.php DocuSign Scores $5M More] Huang, Gregory Seattle Post-Intelligencer May 7, 2009

In July 2012, Docusign raised $47.5 million in venture funding from investors including Kleiner Perkins Caufield & Byers; the round later grew closer to $56 million.Marino, Jonathan. "DocuSign Beefs up its Series D & Adds Google Ventures," PE Hub. Retrieved 24 March 2014.[https://techcrunch.com/2012/07/12/docusign-kleiner-perkins-mary-meeker/ E-Signature Company DocuSign Raises $47.5M Led by Kleiner Perkins] Ha, Anthony TechCrunch July 12, 2012 In March 2014, the company announced it had raised $85 million in a new funding round.Hoge, Patrick. "DocuSign raises $85 million for electronic signatures and more," San Francisco Business Times. Retrieved 24 March 2014. Though unconfirmed, The Wall Street Journal reported the round was based on a company valuation of $1.6 billion.Rusli, Evelyn M. and Douglas MacMillan. "DocuSign Raises $85 Million at $1.6 Billion Valuation," The Wall Street Journal. Retrieved 24 March.

In May 2015, the company announced it had raised $233 million in a new funding round, with some estimating a $3 billion company valuation.{{cite news|url=https://blogs.wsj.com/venturecapital/2015/05/12/docusign-hits-3-billion-valuation-in-latest-funding-round/?mg=blogs-wsj&url=http%253A%252F%252Fblogs.wsj.com%252Fventurecapital%252F2015%252F05%252F12%252Fdocusign-hits-3-billion-valuation-in-latest-funding-round|title=DocuSign Hits $3 Billion Valuation in Latest Funding Round|author=Lizette Chapman|work=WSJ|date=12 May 2015|access-date=20 August 2015}}{{cite web|url=https://www.forbes.com/sites/alexkonrad/2015/05/12/docusign-raises-233-million/|title=DocuSign Doubles Valuation To $3 Billion With $233 Million Raise|author=Alex Konrad|work=Forbes|access-date=20 August 2015}}

In 2018, the company announced plans for an initial public offering on the Nasdaq,{{Cite news|url=https://www.geekwire.com/2018/docusign-ups-ipo-target-417m-stock-price-24-26-new-filing-reveals/|title=DocuSign ups IPO target to $417M on stock price of $24 to $26, new filing reveals|last=Levy|first=Nat|date=17 April 2018|work=GeekWire|access-date=20 April 2018}} The IPO was completed on April 27, in which the company raised $543 million. Neither the original founders nor CEO Daniel Springer were major shareholders at that time.{{cite news|title=DocuSign Readies Plans For $543 Million IPO|url=https://seekingalpha.com/article/4163859-docusign-readies-plans-543-million-ipo|publisher=Seeking Alpha|date=April 18, 2018}} Former CEO Keith Krach was the largest individual shareholder at 5.5%, about 8.5 million shares at the time of the IPO. Venture capital firms Sigma Partners, Ignition Partners, and now-defunct company Frazier Technology Ventures were the largest non-individual shareholders.

In July 2018, Docusign acquired SpringCM for $220 million.{{Cite news |last=Gagliordi |first=Natalie |title=DocuSign buys SpringCM for $220 million |url=https://www.zdnet.com/article/docusign-buys-springcm-for-220-million/ |access-date=2018-08-01 |work=ZDNet |language=en}}

In February 2020, Docusign acquired Seal Software for $188 million.{{Cite web |title=DocuSign acquires Seal Software for $188M to enhance its AI chops |url=https://techcrunch.com/2020/02/27/docusign-acquires-seal-software-for-188m-to-enhance-its-ai-chops/ |access-date=2020-02-28 |website=TechCrunch |date=27 February 2020 |language=en-US}}

On June 1, 2021, DocuSign acquired Clause, a smart legal contract technology startup.{{Cite web |last=Ray |first=Tiernan |date=2021-05-27 |title=DocuSign acquires 'smart agreements' startup Clause |url=https://www.zdnet.com/article/docusign-acquires-intellectual-property-some-staff-of-smart-agreements-startup-clause/ |work=ZDNet}}{{Cite news |last=Hathi |first=Kamal |title=Taking the Next Step in Our Smart Agreement Journey} DocuSign |url=https://www.docusign.com/blog/clause-docusign-smart-agreement-journey |access-date=2024-05-13 |work=DocuSign |language=en}}

The company acquired Lexion, an AI-powered agreement management tool, in May 2024 for a reported $165 million.{{Cite web |last=Wiggers |first=Kyle |date=2024-05-06 |title=DocuSign acquires AI-powered contract management firm Lexion |url=https://techcrunch.com/2024/05/06/docusign-acquires-ai-powered-contract-management-firm-lexion/ |access-date=2024-09-08 |website=TechCrunch |language=en-US}}

Docusign's services are offered either by subscription or through a mobile app. Docusign released the mobile app in November 2011.[http://www.pcworld.com/article/248492/digital_signatures_let_you_ditch_that_old_fax_machine.html Digital Signatures Let You Ditch That Old Fax Machine] West, Angela PC Magazine January 23, 2012

Docusign Professional emails recipients an electronically signed document requesting review of a document after it is uploaded. Each party must agree to complete business electronically, review the document, and apply a signature. Signatures may be added from a stored copy of a signature or generated automatically by the software. Phone confirmation and background checks are offered as premium services.[https://www.pcmag.com/article2/0,2817,2393573,00.asp DocuSign Pro] {{Webarchive|url=https://web.archive.org/web/20170227224255/http://www.pcmag.com/article2/0,2817,2393573,00.asp |date=2017-02-27 }} PC Magazine September 28, 2011

In a 2016 case, it was found that a lawyer in Sacramento who had exclusively been using Docusign signatures had the signatures rendered invalid due to the legal requirements of a physical signature known as a wet signature''.{{Cite web |title=US Court Rejects DocuSign E-Signatures for Digital Authorization |url=https://www.cryptomathic.com/news-events/blog/us-court-rejects-docusign-e-signatures-as-method-to-provide-digital-authorization |access-date=2024-01-14 |website=www.cryptomathic.com |language=en-us}}

A class action lawsuit began against Docusign in 2022 regarding their conduct from 2020-2021 that alleged the company misled investors and shareholders with false reporting. According to the initial complaint, Docusign "failed to disclose the role the COVID-19 pandemic had on its growth, including the positive impact on Docusign's business. [Docusign] also downplayed the impact that a 'return to normal' would have on the Company's growth and business."{{Cite web |date=2022-01-03 |title=SHAREHOLDER ALERT: Robbins LLP Informs Investors of Class Action Against DocuSign, Inc. (DOCU) |url=https://www.businesswire.com/news/home/20220103005149/en/SHAREHOLDER-ALERT-Robbins-LLP-Informs-Investors-of-Class-Action-Against-DocuSign-Inc.-DOCU |access-date=2024-01-14 |website=www.businesswire.com |language=en}}{{Cite web |title=DocuSign Hit With Derivative Suit Over Pandemic Demand Changes |url=https://news.bloomberglaw.com/securities-law/docusign-hit-with-derivative-suit-over-pandemic-demand-changes |access-date=2024-01-14 |website=news.bloomberglaw.com |language=en}}

In 2023, the company's former CEO Daniel Springer filed a lawsuit against Docusign. While the company claimed that Springer had resigned, his lawsuit alleged that the resignation was fabricated.{{Cite web |author=Ironside Research |date=2023-05-02 |title=DocuSign: Boardroom Drama And Bloated Cost Keep Us Far, Far Away |url=https://seekingalpha.com/article/4598741-docusign-boardroom-drama-bloated-cost-keep-us-far-away |access-date=2024-01-14 |website=Seeking Alpha |language=en}}

File:DocuSign Impact 3.15.15.jpg

On 15 March 2015, CEO Keith Krach announced the formation of the $30 million Docusign IMPACT Foundation, a philanthropy department of the company to donate to charities.{{cite news| title=Life & News Names Keith Krach '2018 Transformational Leader of the Year'|author=|publisher=Life and News | date=12 December 2018| url=https://www.lifeandnews.com/articles/life-and-news-names-keith-krach-2018-transformational-leader-of-the-year/}}

• Adobe Sign
• Handwriting recognition
• HelloSign
• PandaDoc
• Title 21 CFR Part 11
• Uniform Electronic Transactions Act

{{Reflist|30em}}

{{Commonscatinline}}

• {{Official|https://www.docusign.com}}

{{Finance links

| name = Docusign, Inc.

| symbol = DOCU

| sec_cik = 1261333

| yahoo = DOCU

| google = DOCU:NASDAQ

}}

{{S&P 400 companies}}

{{Authority control}}

{{DEFAULTSORT:Docusign}}

Category:2003 establishments in California

Category:2018 initial public offerings

Category:American companies established in 2003

Category:Business software companies

Category:Companies based in San Francisco

Category:Companies in the S&P 400

Category:Companies listed on the Nasdaq

Category:Electronic signature providers

Category:Software companies based in the San Francisco Bay Area

Category:Software companies established in 2003

Category:Software companies of the United States