Google invests in digital signature company DocuSign
- 07 August, 2012 13:58
- Comments
Google has staked some cash on the market for digital signatures on electronic documents with a venture capital investment in DocuSign, the companies announced Tuesday.
DocuSign's technology is used by companies for signing digital invoices, business agreements and other official documents in a safe and secure way, according to the company's website. It is currently used by 20 million users who have signed more than 150 million documents and 60,000 new users join the service every day, DocuSign said.
Google Ventures said it decided to invest in DocuSign because electronic signatures are being rapidly adopted by enterprises and small businesses worldwide. DocuSign's technology, strong team and market momentum attracted Google and the companies plan to work together to reach hundreds of millions of customers worldwide, according to the search giant's venture capital arm.
DocuSign users can upload a digital document to the service and request specific people to sign it digitally with a unique signature or initial. The service is used in industries like financial services, insurance and technology among others, DocuSign said, adding that technology companies like Cisco, Comcast, eBay, Hewlett-Packard and others are already using the service.
DocuSign also offers a service for consumers called DocuSign Ink that allows anyone to drag and drop their signatures on documents to make them legally binding. The service works with native iPad, iPhone and Android apps and can also used with Microsoft's Outlook email client. It can be used to sign Microsoft Office files, PDF files with form field recognition, scanned and faxed documents and all text and image files. In April DocuSign was integrated with Google Drive, Google's cloud collaboration service that includes Google Docs.
The amount of Google Ventures' investment was not disclosed, but DocuSign said that it has raised $55.7 million in its current round.
Google Ventures invests in a wide variety of companies in the mobile, gaming, energy and life sciences industry, according to its website. The venture capital is financed by the search giant but Google Ventures sets its own agenda and aims at financial return, rather than supporting Google's strategic goals, it says.
Google Ventures tries to be an hands-on investor that quietly helps to build companies, said managing partner Bill Maris in a post on the new Ventures blog that started on Monday. "We try to be the kind of investors we sought as entrepreneurs ourselves. Starting a company can be a lonely business, and it helps to know you've got someone on your side who has been through it before," he wrote.
Loek covers all things tech for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com
Recommended
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
- Bookmark this page
- Share this article
- Got more on this story? Email CIO
- Follow CIO on twitter
- Clearing the Clouds for Midmarket Businesses
- Agentless Security for Virtual Environments
- World Quality Report - The State of Quality 2012
- Getting Real About Security Management and Big Data – A Roadmap for Big Data in Security Analytics
- Choice and Control – Considerations for Developing Enterprise Cloud Strategies
-
Why change management doesn’t work
-
Larry Page wants to see your medical records
-
Dual-Persona Smartphones Not a BYOD Panacea
-
After two-year hiatus, EFF accepts bitcoin donations again
-
CIOs struggle to deliver timely mobile business apps: survey
-
Cloud Computing for Midsize Businesses: Delivering Innovation and Efficiency
It’s time for midsize companies to start thinking differently about infrastructure. This white paper provides a brief overview of cloud computing, explains how midsize companies can benefit, and describes the steps they can take to take advantage of what it has to offer. Read now. -
In Control at Layer 2: A Tectonic Shift in Network Security
Network hacking and corporate espionage are on the rise and set to intensify. Information security risks remain commonplace, and most organisations need to increase vigilance. This paper has analyses the realistic threats to fibre optic Ethernet networks – both at the LAN and WAN level. Read now. -
Maximising productivity without sacrificing security
Advances in mobility and client computing technology combined with the ubiquity of the Internet and social media are creating a culture and desire for constant connectivity and anywhere access to information. As these trends extend from the home into the work place, IT managers should consider seriously the opportunities for increased productivity and communication with customers and constituents, as well as understand the increased security risks posed by online, anytime access to private networks and data. Read more.
Get exclusive access to Invitation only events CIO, reports & analysis. 
