E-signature powerhouse DocuSign reportedly raising $100 million

DocuSign_logoDocuSign, which allows businesses of all kinds to sign documents electronically, is looking to raise $100 million at a valuation that could top $1.5 billion, reports The Wall Street Journal, citing three people familiar with the deal.

The company was started in Seattle by entrepreneur Tom Gonser, a former McCaw Cellular employee who now serves as chief strategy officer. It has operations split between Seattle and San Francisco, the latter being where CEO Keith Krach (formerly of Ariba and Rasna) is based.

DocuSign would be the latest privately-held tech company to join the “billion dollar club” — a list that includes some 37 companies, including Dropbox, Pinterest and Uber. It would be the only company with roots in Seattle on the list, since two Seattle companies (Tableau and Zulily) went public last year at multi-billion dollar valuations.

Tom Gonser

Tom Gonser

The 11-year-old company has been discussed as a possible IPO candidate, with CFO Mike Dinsdale telling Dow Jones VentureWire last year that “an IPO is logical at some point.” It employs about 650 people.

According to a report last year, the company had about 48 million customers, including a number of real estate professionals, using the service. In fact, the National Association of Realtors invested in the company in 2009.

DocuSign raised $55.7 million in August 2012 from a group of investors that included Google Ventures, Kleiner Perkins Caufield & Byers, Accel Partners, Comcast Ventures and SAP Ventures, at the time bringing total funding to $123 million. Seattle area venture firms Ignition Partners and Frazier Technology Ventures also were early backers.

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