DocuSign, a digital transaction management platform that enables companies to sign documents electronically, has raised $85 million in new funding primarily from institutional public funds, with participation from existing investors, which include Sigma West, Kleiner Perkins Caufield & Byers, Accel Partners, Scale Venture Partners and Ignition Partners, among others. The company will use the new capital to fuel continued growth of its platform, driving deeper vertical solutions, investing in its strategic partnerships and continuing its international expansion.
DocuSign, which serves 95,000 companies and millions of users in 188 countries, previously raised $55.7 million of Series D funding in 2012 and now has a total of over $200 million in VC backing. The company's platform helps consumers and businesses complete transactions faster by eliminating the hassles, costs and lack of security in printing, faxing, scanning and overnighting documents to capture information, payments and signatures. The new deal reportedly values DocuSign at $1.6 billion.