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.