DocuSign reportedly raising $100 million, shooting for a $1 billion valuation

DocuSign, which allows businesses of all kinds to sign documents electronically, is looking to raise $100 million at a valuation that could top $1.5 billion, reports The Wall Street Journal, citing three people familiar with the deal. The company was started in Seattle by entrepreneur Tom Gonser, a former McCaw Cellular employee who now serves as chief strategy officer. It has operations split between Seattle and San Francisco, the latter being where CEO Keith Krach is based.

DocuSign may soon be the latest entrant to the billion-dollar startup club. The electronic signature software company is in the process of raising about $100 million, in a deal that could value the company as high as $1.5 billion, according to three people familiar with the matter. Morgan Stanley is helping DocuSign with the fund-raising, two of these people said. A DocuSign spokesperson declined to comment. Morgan Stanley also declined to comment. The company has been growing at a furious pace, amid mounting anticipation for an initial public offering. Last year, DocuSign roughly doubled its headcount to 650 people and plans to add hundreds more this year. In December, Mike Dinsdale, the company’s chief financial officer, told Dow Jones VentureWire that “an IPO is logical at some point.”