Telstra, the largest telecommunications company in Australia, has made a strategic investment in e-signature company DocuSign, the two companies announced today. The terms of the deal were not disclosed, though DocuSign said that the company has now raised a total of $230 million in funding.
As a part of the investment, Telstra will start using DocuSign’s platform internally, and will also offer the company’s technology to its enterprise and business customers later this year.
“Thanks to Telstra joining the DocuSign Global Trust Network as a customer, reseller and investor, local businesses can now ditch costly, time consuming paper-based processes and embrace a more productive digital future,” DocuSign Chairman and CEO Keith Krach said in a press release. “DocuSign’s mission is to empower the world to keep business digital and the partnership with Telstra is another step towards transforming the way transactions are completed in Australia.”
DocuSign closed an $85 million Series E round of funding earlier this year, and the company is also rumored to be working towards an eventual IPO. Telstra Ventures took part in that round, along with 12 other firms.