DocuSign Raises $5 Million For E-Signature Software

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DocuSign, an e-signature service, closed $5 million in Series D funding from Frazier Technology Ventures, Ignition Partners, Sigma Partners, and West River Capital LLC. The funding follows a Series C investment of $12.4 million in 2007 from the same investors.

DocuSign, which was founded in 2003, allows companies to get legally binding signatures quickly over the internet instead of over the fax or mail. DocuSign certifies digital signatures over the web, acting as a intermediary who holds the documents and verifies the identity of the signature. The 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. To date, more than 25 million signature events have been executed using DocuSign. Competitors include EchoSign, and VeriSign.

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