Companies · AI / ML

Docusign, Inc.

SAN FRANCISCO · AI / ML · refined from filed group “Other Technology · https://www.docusign.com/

Diligence memoA one-page analyst read on Docusign, Inc. — recommendation, valuation, rhythm, risks.
$476.5M
Total raised · real
8
Rounds
0.2×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Mon Jul 06 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Docusign, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the ai/ml sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.27× the median modeled value of Series D+ AI / ML companies in 2019–2021 (8 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.0 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in AI / ML

Docusign, Inc. is one of 2067 AI / ML companies tracked from SAN FRANCISCO. By capital raised it ranks among the largest (ahead of 99% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

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ai/ml
Find Docusign online

Trades publicly as Docusign.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
42
Investors (latest)
2020-07-06
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeries A · 2009-04-24 Raised $5.0M (real) Modeled valuation $181M (est)Series A2009Series A · 2009-11-16 Raised $3.0M (real) Modeled valuation $108M (est)Series A2009Series A · 2010-06-25 Raised $2.0M (real) Modeled valuation $72M (est)Series A2010Series B · 2010-12-03 Raised $27M (real) Modeled valuation $1.1B (est)Series B2010Series C · 2012-06-29 Raised $47M (real) Modeled valuation $1.9B (est)Series C2012Series C · 2012-06-29 Raised $56M (real) Modeled valuation $2.3B (est)Series C2012Series C · 2012-06-29 Raised $56M (real) Modeled valuation $2.3B (est)Series C2012Series C · 2013-05-15 Raised $3.4M (real) Modeled valuation $141M (est)Series C2013Series D+ · 2014-03-03 Raised $100M (real) Modeled valuation $4.1B (est)Series D+2014Series C · 2014-03-03 Raised $85M (real) Modeled valuation $3.5B (est)Series C2014Series D+ · 2014-03-03 Raised $115M (real) Modeled valuation $4.7B (est)Series D+2014Series D+ · 2015-04-30 Raised $233M (real) Modeled valuation $9.6B (est)Series D+2015Series D+ · 2020-07-06 Raised $37M (real) Modeled valuation $1.5B (est)Series D+2020Cumulative $770M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$5.0M · 2009
Series A extension$3.0M · 2009
Series A extension$2.0M · 2010
Series B$27.0M · 2010
Series C$47.5M · 2012
Series C extension$55.9M · 2012
Series C extension$55.8M · 2012
Series C extension$3.4M · 2013
Series D+$100.4M · 2014
Bridge · Series D+-stage$84.7M · 2014smaller follow-on
Series D+ extension$115.0M · 2014
Series D+ extension$233.1M · 2015
Series D+ extension$37.1M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 67%.

Modeled valuation trajectory
$1.5B
Base estimate est.
$205.9M
Conservative case
$3.3B
Upside case
$309.0M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the ai/ml sector profile. Directional, not a quoted figure.

Series A · modeled $180.7M · 2009-04-242009Series A · modeled $108.4M · 2009-11-16Series A · modeled $72.3M · 2010-06-25Series B · modeled $1.1B · 2010-12-03Series C · modeled $1.9B · 2012-06-29Series C · modeled $2.3B · 2012-06-29Series C · modeled $2.3B · 2012-06-29Series C · modeled $141.2M · 2013-05-15Series D+ · modeled $4.1B · 2014-03-03Series C · modeled $3.5B · 2014-03-03Series D+ · modeled $4.7B · 2014-03-03Series D+ · modeled $9.6B · 2015-04-30Series D+ · modeled $1.5B · 2020-07-062020
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.35×/yr
Annual markup
1.51×/yr upside case
6.0 yr
Elapsed time used
6.0 yr actual, capped for stale marks
ai/ml
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
11 mo
Avg between rounds
$42.5M/yr
Capital velocity
17.2 yr
On record since
2009
First round
13
Rounds on file
How it compares to the market

Benchmarked against 2067 companies in AI / ML. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 101× above median
This company$476.5M
Sector median$4.7M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.2× of median
This company$37.1M
Sector median$174.5M
Modeled value — vs sector median (estimate, all stages) 55× above median
This company$1.5B
Sector median$27.9M

Raised more than 99% of sector peers (real $). Modeled value above 98% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #8 of 8.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0B$10.0BCapital raised (log)GrubMarket, Inc. · Series D+ Raised $279.1M · modeled $7.5B (est)Highspot, Inc. · Series D+ Raised $653.8M · modeled $6.5B (est)Amplitude, Inc. · Series D+ Raised $200.0M · modeled $6.3B (est)Tanium Inc. · Series D+ Raised $911.8M · modeled $5.8B (est)Osmosis Holdings, LP · Series D+ Raised $233.1M · modeled $5.3B (est)Vectra AI, Inc. · Series D+ Raised $192.4M · modeled $3.4B (est)C3.ai, Inc. · Series D+ Raised $400.9M · modeled $2.1B (est)Docusign, Inc. (this company) Raised $476.5M · modeled $1.5B (est)Docusign, Inc.
CompanyStageRaised · realValue · estvs peer med.
GrubMarket, Inc.Series D+$279.1M$7.5B1.35×
Highspot, Inc.Series D+$653.8M$6.5B1.18×
Amplitude, Inc.Series D+$200.0M$6.3B1.13×
Tanium Inc.Series D+$911.8M$5.8B1.05×
Osmosis Holdings, LPSeries D+$233.1M$5.3B0.95×
Vectra AI, Inc.Series D+$192.4M$3.4B0.62×
C3.ai, Inc.Series D+$400.9M$2.1B0.37×
Docusign, Inc. this companySeries D+$476.5M$1.5B0.27×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$5.0M2009-04-24$22.7M$180.7M85%
Series A$3.0M2009-11-16$13.6M$108.4M85%
Series A$2.0M2010-06-25$9.1M$72.3M85%
Series B$27.0M2010-12-03$150.0M$1.1B85%
Series C$47.5M2012-06-29$316.6M$1.9B85%
Series C$55.9M2012-06-29$372.7M$2.3B85%
Series C$55.8M2012-06-29$372.0M$2.3B85%
Series C$3.4M2013-05-15$23.0M$141.2M85%
Series D+$100.4M2014-03-03$836.4M$4.1B85%
Series C$84.7M2014-03-03$564.6M$3.5B85%
Series D+$115.0M2014-03-03$958.3M$4.7B85%
Series D+$233.1M2015-04-30$1.9B$9.6B85%
Series D+$37.1M2020-07-06$309.0M$1.5B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$5.0M2009-04-24
    • First recorded raise — entered as Series A.
    • 7 investors on this round.
  2. Series A$3.0M2009-11-16
    • Came back fast: 7 mo vs the ~11 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  3. Series A$2.0M2010-06-25
    • Raised 7 mo later, in step with the ~11 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  4. Series B$27.0M2010-12-03
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 13.5× larger than the prior — scaling up.
    • 13 investors on this round.
  5. Series C$47.5M2012-06-29
    • Raised again after 19 mo — slower than the ~11 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 13 investors on this round.
  6. Series C$55.9M2012-06-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 16 investors on this round.
  7. Series C$55.8M2012-06-29
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 15 investors on this round.
  8. Series C$3.4M2013-05-15
    • Raised 11 mo later, in step with the ~11 mo sector norm.
    • Round 16.2× smaller than the prior — bridge or down round.
    • 21 investors on this round.
  9. Series D+$100.4M2014-03-03
    • Raised 10 mo later, in step with the ~11 mo sector norm.
    • Round 29.1× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 49 investors on this round.
  10. Series C$84.7M2014-03-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 42 investors on this round.
  11. Series D+$115.0M2014-03-03
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.4× larger than the prior — scaling up.
    • 54 investors on this round.
  12. Series D+$233.1M2015-04-30
    • Raised 14 mo later, in step with the ~11 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 46 investors on this round.
  13. Series D+$37.1M2020-07-06
    • Raised again after 62 mo — slower than the ~11 mo sector norm.
    • Round 6.3× smaller than the prior — bridge or down round.
    • 42 investors on this round.
Intelligence
2021 ~Q2
Modeled next raise · ~11mo cadence
$37.1M
Modeled next size est.range $37.1M$59.3M
0.2×
Last step-up
$42.5M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Rory O'Driscoll14 other2010-12
Enrique Salem11 other2014-03
Keith Krach5 other2010-06
Jonathan Roberts4 other2009-04
Peter Solvik4 other2009-04
Steve King4 other2010-06
Matthew Schiltz3 other2009-04
Pete Solvik3 other2010-06
Scott Darling3 other2009-04
Enrique T. Salem2 other2020-07
Mary Agnes Wilderotter2 other2020-07
Mary Meeker2 other2012-06
Michael J. Sheridan2 other2020-07
Mike Dinsdale2 other2010-06
S. Steven Singh2 other2020-07
Gary Thomas1 other2010-12
John Hinshaw1 other2014-03
Reggie Davis1 other2014-03
Tom Gonser1 other2009-04
Blake J. Irving2020-07
Cynthia J. Gaylor2020-07
Dale Stinton2010-06
Daniel D. Springer2020-07
Grant Peterson2010-06
Registry & provenance

Docusign, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1261333
SEC CIK
Recent activityActive

Discovered from docusign — the partnerships, launches, hiring and press it publishes about itself. Evidence the company is alive and what it is doing now, not financial data.

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Frequently asked
How much funding has Docusign, Inc. raised?
Docusign, Inc. has raised approximately $476.5M in disclosed capital across 8 recorded financing rounds, aggregated from public filings.
What is Docusign, Inc.'s estimated valuation?
Provath's modeled valuation for Docusign, Inc. is approximately $1.5B (modeled range $205.9M–$3.3B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Docusign, Inc. at?
Docusign, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Mon Jul 06.
What does Docusign, Inc. do and where is it based?
Docusign, Inc. operates in the AI / ML sector, based in SAN FRANCISCO. Create, commit to, and manage your agreements all in one platform with Docusign IAM. Electronically sign for free.
Explore related

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