DocuSign Case Study
As the global standard for eSignature and eSignature transaction management leader, DocuSign empowers every consumer, individual professional, small business and global enterprise to sign anything, anywhere, on any device. DocuSign automates manual, paper-based processes with the only open, independent, standards-based platform for managing all aspects of documented business transactions. DocuSign helps organizations of all sizes securely collect information and payment, automate workflows and sign documents to accelerate speed to results, reduce costs and delight customers. DocuSign is the official and exclusive electronic signature solution for the 1 million members of the National Association of REALTORS®, under the REALTOR Benefits® Program.
With millions of real estate transactions each year, and even more signatures required to buy and sell property, electronic signature was a natural fit to expedite deals, reduce costs and create a better experience. However, like most change, eSignature was a paradigm shift for an industry used to doing things as they had been done for years. And with new technology in particular, there were questions that needed to be answered to reassure agents, brokers, buyers and sellers of the legitimacy, privacy and security of the innovation. Industry pioneer and leader DocuSign was eager to drive rapid, viral adoption of their eSignature platform.
Second Century Ventures and the National Association of REALTORS® saw an opportunity for a win-win situation, where they could help DocuSign gain visibility to grow the market while introducing REALTORS® to a valuable tool to save time and money, and create a better client experience. So began the relationship of DocuSign as the official and exclusive electronic signature solution for the 1 million members of the National Association of REALTORS®, under the REALTOR Benefits® Program.
“Second Century Ventures is an important and valuable partner that’s connected DocuSign with the National Association of REALTORS® and its 1 million members,” said Tom Gonser, founder and chief strategy officer at DocuSign. “Second Century and NAR have undoubtedly helped to fuel DocuSign’s growth as the real estate industry standard for eSignature.”
Second Century Ventures and NAR supported DocuSign achieve its business objectives in a variety of ways, including:
- Differentiation: DocuSign benefited from recognition as the official provider for NAR, the only national REALTOR® brand with a $4.5B market value, and as a preferred provider in the marketplace.
- Policy resources: NAR’s Washington policy group worked with DocuSign to educate various government groups to gain acceptance of eSignature at the Federal Housing Authority (FHA).
- Business Development: NAR provided introductions to technology partners and key potential customers to help fuel growth.
- Leadership: DocuSign benefited with a member of NAR serve on its board for strategy development and industry relationships.
“Immediately following the investment by Second Century Ventures, DocuSign teamed up with the NAR lobbying arm to promote the acceptance of electronic signatures in federal housing programs, which up to that time had been an industry hurdle,” said Ken Moyle, chief legal officer at DocuSign. “With their support, FHA announced that it would begin accepting eSignatures on federal home loans—and that opened up the real estate market for DocuSign.”
With success in real estate, other markets quickly followed and today, DocuSign is the global standard for eSignature with more than 23 million users who have DocuSigned more than 220 million documents in 188 countries.
- DocuSign was ranked #6 in the Wall Street Journal’s Top 50 ‘Next Big Things’ in 2012.
- More than 60,000 new unique users join the DocuSign Global Network everyday
- Employees at 99 of the Fortune 100 and 90% of the Fortune 500 have DocuSigned
- More than 150,000 documents (containing more than 1 million pages) are DocuSigned every day
- More than 4 million real estate transactions have been completed on the DocuSign Global Network
- More than 130,000 (and growing) real estate professionals have active DocuSign accounts
*Statistics represent activity as of October, 2012