THE investment arm of the Singapore Economic Development Board, EDBI, has joined two others to invest in the series E round of funding of US-based DocuSign, a company providing electronic signature technology and digital transaction management (DTM) services that help in electronic exchanges of contracts and signed documents. DocuSign has already raised US$115 million this year, bringing the total amount raised thus far to around US$230 million.
Apart from EDBI, the other two are Samsung Ventures and BBVA Ventures, the corporate venture arm of BBVA Group. BBVA Group is a financial services company with a strong presence in Spain, Mexico and various Spanish-speaking countries, among others.
The three have now joined the DocuSign Global Trust Network as strategic investors, along with Visa, Telstra Ventures, the salesforce.com Salesforce1 Fund, Mitsui & Co (USA), NTT Finance and Recruit Holding.
As a strategic investor, EDBI will leverage its broad network of resources and experience to facilitate DocuSign's organic growth in Singapore and across Asia. It is expected that DocuSign's technology will help in Singapore's push into cloud services and online financial services.