Wednesday, September 26, 2007
DocuSign Raises $12.4 Million
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_screen.pngDocuSign 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
docusign_screen.pngDocuSign 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
Labels: $, 12.4, Credibility, Docstoc, Docu, Exclusive: Podango Juices Podcast, FutureBazarOnline.com, Google, million, Sign Raises
Saturday, September 15, 2007
Docstoc Comes Through On That Financing
I criticized Los Angeles based startup Docstoc in a post last month for pre-announcing a financing that hadn’t actually closed yet.
At the time of that post, where I suggested that they may be counting their chickens before they hatched, they said:
We are about to close another substantial round of financing from at least one, if not all, of the following investors 1) one of the co-founders of myspace 2) the angel investors in www.baidu.com and the head of mp3.com that lead the company to its 400M acquisition – at least one of these players will lead our next round, and all three parties may participate. Financing is expected to close by the end of the month.
Well, their gamble paid off. They raised a first round of financing from Scott Walchek (investor in Baidu), Brett Brewer (co-founder of MySpace parent Intermix Media) and Robin Richards, the former president of MP3.com. They won’t disclose the size of the financing to me, but they certainly closed on the investors they said they would.
The startup itself remains unlaunched for now, but I’ve seen a demo and its got potential. Like Scribd, Docstoc is a sort of YouTube for documents - users can upload just about any document type (MS Word, Excel, PowerPoint, Adobe Illustrator, and PDF) and display via a Flash interface on any website. But there are key differences, too. Our first post on the company is here.
At the time of that post, where I suggested that they may be counting their chickens before they hatched, they said:
We are about to close another substantial round of financing from at least one, if not all, of the following investors 1) one of the co-founders of myspace 2) the angel investors in www.baidu.com and the head of mp3.com that lead the company to its 400M acquisition – at least one of these players will lead our next round, and all three parties may participate. Financing is expected to close by the end of the month.
Well, their gamble paid off. They raised a first round of financing from Scott Walchek (investor in Baidu), Brett Brewer (co-founder of MySpace parent Intermix Media) and Robin Richards, the former president of MP3.com. They won’t disclose the size of the financing to me, but they certainly closed on the investors they said they would.
The startup itself remains unlaunched for now, but I’ve seen a demo and its got potential. Like Scribd, Docstoc is a sort of YouTube for documents - users can upload just about any document type (MS Word, Excel, PowerPoint, Adobe Illustrator, and PDF) and display via a Flash interface on any website. But there are key differences, too. Our first post on the company is here.
Labels: $, Church, Comes, Docstoc, fashion, Financing, Google, on, That, Through
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