DocuSign, a San Francisco-based company that provides electronic signature technology, has raised $629m after pricing its IPO.
The company priced its IPO at $29 per share, above the initially proposed price range of $24 to $26 per share. The set price gives the company a valuation of $4.4bn.
DocuSign brought in $518.5m in revenue for its fiscal year ending in January 2018. This is up from $381.5m last year and $250.5m the year before. Losses for this year were $52.3m, down from $115.4m last year and, $122.6m for 2016.
Founded in 2003, DocuSign has raised more than $500m in funding to date, having previously closed a $233m Series F round in May 2015. Investors include Intel Capital, Bain Capital Ventures, Founders Circle Capital, Deutsche Telekom, Microsoft, and ICONIQ Capital, among others.
Dan Springer, DocuSign CEO, said in a blog post: “When I joined DocuSign in January last year, I remember being incredibly impressed by the company’s strong SaaS platform, and the team’s sense of purpose to drive customer success and make a positive impact in our communities.
“Today, as I sit here at the Nasdaq stock market in New York City reflecting back on that moment, I realise how much still rings true. We care about the same things, we are doing the same things, and we are always striving to be better. Today, the main difference is we are a bigger company, we create cash instead of consuming it, and as of a few moments ago, we are now one that’s public.”
DocuSign enables people to electronically sign agreements from almost anywhere. It also enables digital workflows which it claims save money, increase efficiency, and move businesses forward.
Its cloud-based electronic signature platform helps small- and medium-sized businesses, enterprises, and individuals collect information, automate data workflows, and sign on various devices.
The company’s platform automates manual and paper-based processes that allow users to manage various aspects of documented business transactions, including identity management, authentication, digital signature, forms and data collection, collaboration, and workflow automation and storage. It provides its solutions to a range of industries, including financial services, healthcare, government, insurance, legal, life sciences, technology, non-profit, real estate agents, and higher education, among others.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
