DocuSign may soon be the latest entrant to the billion-dollar startup club

Feb 13, 2014

DocuSign Shoots for Valuation Above $1 Billion

By Evelyn M. Rusli and Douglas MacMillan

DocuSign may soon be the latest entrant to the billion-dollar startup club.

The electronic signature software company is in the process of raising about $100 million, in a deal that could value the company as high as $1.5 billion, according to three people familiar with the matter. Morgan Stanley is helping DocuSign with the fund-raising, two of these people said.

A DocuSign spokesperson declined to comment. Morgan Stanley also declined to comment.

The company has been growing at a furious pace, amid mounting anticipation for aninitial public offering.

Last year, DocuSign roughly doubled its headcount to 650 people and plans to add hundreds more this year. In December, Mike Dinsdale, the company’s chief financial officertold Dow Jones VentureWire that “an IPO is logical at some point.”

Founded more than a decade ago, DocuSign is one of the largest cloud-based, electronic signature software companies. Its software, which has more than 48 million customers, is used by a broad range of industries to facilitate the signing of sensitive contracts and legal documents. Its last major round of funding was in 2012, when it raised $47.5 million from a large group of venture capital backs, led by Kleiner Perkins Caufield & Byers.

The move comes as many technology companies prep for the public markets. Online storage company Box recently filed for an IPO, a person briefed on the matter has said, just months after securing a $100 million in fundraising. Meanwhile, Woodman Labs, a maker of wearable cameras doing business as GoPro, announced earlier this month, that it has also filed to go public.

 

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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