DocuSign raises $47.5 million, adds Mary Meeker to board

July 12, 2012: 8:26 PM ET

The 8-year-old electronic signature provider will have raised a total of $117 million.

FORTUNE -- DocuSign, the electronic signature provider, said has raised $47.5 million in a round of financing led by Kleiner Perkins Caufield & Byers. As part of the deal, which also includes investments from Accel Partners, SAP Ventures (SAP) and Comcast Ventures (CMCSA), Kleiner partner Mary Meeker will join DocuSign's board of directors.

With the new financing, the 8-year-old company will have raised a total of $117 million.

"Our business is growing at a tremendous clip," Keith Krach, DocuSign's chairman and CEO, said in an interview. The company will use the additional funds to accelerate investments in research and development, international expansion and to go after certain vertical markets, Krach said. (Krach will be speaking at Fortune's Brainstorm Tech conference in Aspen, Colorado next week.)

The company, whose e-signature service is used by everyone from consumers, to small business owners like realtors, to giant companies like HP (HPQ), currently has 20 million users and is adding about 60,000 new users a day, said Krach, who has been chairman for the past 3 years and took over the CEO post last year. In the past year, the company has nearly doubled in size to 270 employees.

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Miguel Helft
Miguel Helft
Senior Writer, Fortune

Miguel Helft is a San Francisco-based Senior Writer at FORTUNE, where he covers Silicon Valley. He joined FORTUNE in August 2011 following a 5-year stint as a reporter at The New York Times covering companies like Apple, Facebook and Google. His knowledge of Silicon Valley and the tech world runs deep. He worked as a software engineer at Sun Microsystems in the late-1980s, and for the past 15 years, he has chronicled major industry events -- from the Microsoft antitrust trial to the dot-com boom and bust - at publications like the Industry Standard, the San Jose Mercury News and the Los Angeles Times. Born and raised in Argentina, Helft emigrated to the U.S. to attend Stanford University, where he earned a BA in Philosophy and a Master's in Computer Science.

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