Telecommunications firm Deutsche Telekom has invested $22m in US-based online signature technology provider DoscuSign, bringing its series F round up to $300m in the process.
DocuSign produces e-signature technology that allows contracts and documents to be signed electronically and securely on a range of devices, eliminating the need to post, courier, fax or email documents.
The company had raised $278m for its series F round as of May this year, securing funding from Intel Capital, the investment arm of semiconductor maker Intel, computer hardware producer Dell, Brookside Capital, Bain Capital Ventures, Generation Investment Management and ClearBridge Investments.
DocuSign has now raised $525m since it was founded in 2003, including $115m in an October 2014 round featuring Samsung Ventures, BBVA Ventures and NTT Finance, the respective corporate venturing subsidiaries of electronics manufacturer Samsung, financial services firm BBVA and mobile network NTT, as well as conglomerate Mitsui and human resources company Recruit.
Other series E investors included EDBI, Sapphire Ventures, Kleiner Perkins Caufield & Byers, Accel Partners, Scale Venture Partners and Ignition Partners.
Existing backers also include internet company Google, payment services company Visa, telecoms company Telstra, cable service provider Comcast, cloud computing company Salesforce.com, Sigma Partners, Wasatch Advisors, National Association of Realtors, Cross Creek Advisors, Sands Capital Ventures, Wellington Management and Frazier Technology Ventures.
Reinhard Clemens, CEO of Deutsche Telekom’s information and communications technology subsidiary T-Systems, said: “As a global standard for digital transaction management, DocuSign is helping companies around the world accelerate business results while creating world-class customer experiences.
“Based on our strong European data protection and privacy principles, we invested in DocuSign to bring that same great experience to our customers so they can transact business 100% digitally – whenever and wherever convenient – with trust and confidence.”
The funding was announced concurrently with the formation of a strategic partnership between DocuSign and another of its investors, Dell, through which the companies will aim to provide DocuSign’s technology to Dell customers as a standalone option with new or existing equipment.