According to a Market Insider report, the global e-signature market is expected to grow 35% annually to $9.07 billion by the year 2023 driven by the increased adoption of security procedures coupled with government and organizational focus towards paperless offices. Billion Dollar Unicorn player DocuSign is a leading player in the segment, that many expect, is ready to list soon.

DocuSign’s Financials

DocuSign was founded in 2003 by Tom Gosner, who is also known as the “father of electronic signatures”. DocuSign was founded to build a platform that could help companies automate processes that needed physical signatures by digitizing the end-to-end process. Its services have seen significant adoption rate. Today, its platform is available in 43 languages and is used by more than 200 million users and over 300,000 companies across 188 countries.

DocuSign charges a subscription fee ranging from $10 per month for individuals to $40 per user per month for businesses. DocuSign does not disclose its financials. Analysts estimate that its revenue was close to a $200 million run rate in 2017. Its profitability figures are not known, but last year, it had mentioned that it was at operating cash flow breakeven, and on the path to profitability.

It has been venture funded so far with more than $500 million in funding raised from investors including Dell Ventures, Intel Capital, Bain Capital Ventures, Founders Circle Capital, Sands Capital Ventures, Wellington Management, Wasatch Advisors, Iconiq Capital, Recruit Strategic Partners, BBVA Ventures, Salesforce, Telstra, Visa, MKI, EquityZen, SharesPost Investment Management, Cross Creek Advisors, Sigma West, Comcast Ventures, Kleiner Perkins Caufield & Byers, Accel Partners, Sapphire Ventures, Google Ventures, Frazier Technology Ventures, and Scale Venture Partners. Its last round of funding was held in May 2015 when it raised $233 million at a $3 billion valuation. The company is expected to operating cash flow breakeven