alarm:clock

eCommerce - Tuesday, December 28, 2004

DocuSign - Profile

HQ: Seattle, WA

Founded: January 2003

Management: CEO/co-founder is Court Lorenzini who was CEO of Point.com, Flatrock, and Acora Growth Solutions. His co-founder, Tom Gonser, previously founded NetUPDATE, a mortgage document management startup which had a relatively similar model to DocuSign.

Investors: Received angel funding in 2003, followed by $4.6M in 2004 from Ignition Partners and Frazier Technology Ventures.

Business Model: Web-based, legal document signing service that provides unique digital signature stamps and encrypted transfer. DocuSign is priced per secure envelope and can have an unlimited number of signatures or initials for $5.25 round trip. Selling points are greater efficiency as well as savings on Fedex bills.

Competitors: Service is presented as an alternative to faxing or scanning legal documents. We were unable to turn-up direct competitors.

Dirt: It would be fantastic if DocuSign would go places - non-digital signatures are archaic and managing them is a waste of all of our time. We don't like it that DocuSign seems to be the only one doing this. It's too much evangalizing for one company to do. But if they could just land a few large large law firms or mortgage companies, they'll have a nice start given how many documents these guys process.