Seattle-based e-signature provider DocuSign closed a $27 million investment from Scale Venture Partners and added one of the venture capital firms’s managing directors to its board of directors. In addition, DocuSign added two executives to its management team.
The Series C financing is in addition to DocuSign’s other investor partners, who will remain involved in the company— Sigma Partners, Ignition Partners, Frazier Technology Ventures and Salesforce.com. In venture capital arrangements, series C financing is a third round of private investment in a startup or emerging company.
As part of the deal, Scale Venture Managing Director Rory O’Driscoll will join DocuSign’s board of directors. He said DocuSign is an attractive investment because the firm’s cloud computing-based technology has the potential to expand and take a greater market share for e-signature services. Other Scale Venture Partners investments include software as a service firms Box.net and ExactTarget and other tech firms, including BrightRoll, HubSpot, LiveScribe, Scale Computing and uTest.
Dustin Grosse also joins DocuSign as senior vice president, chief marketing and business development officer. He previously was the sales and marketing general manager for Microsoft’s Field Readiness team and the Microsoft Office Unified Communications Group. Roger Erickson joins DocuSign as its vice president of customer success. Erickson is formerly senior vice president of technology solutions and services at Autonomy Zantaz and other technology firms.
