SignEasy Welcomes First Outside Investors, Adds To Executive Team As eSignature Offerings Expand
Round led by an accomplished group of SaaS founders including Yelp CEO Jeremy Stoppelman, Freshworks CEO Girish Mathrubhootam, and TSheets founder and former CEO Matt Rissell
SignEasy, the leading cloud-based, mobile-first eSignature solution for businesses, is excited to welcome its first-ever outside investors, a significant milestone for the long-time bootstrapped company. The company also announced significant additions to its advisory board and an expansion of its own executive team.
As the world accelerates its long-anticipated move to a work from anywhere, on any device mindset, this strategic shift for SignEasy is a natural next step. Transformations expected to take years have suddenly begun happening in weeks, prompting the company’s own need to grow in order to serve a rapidly-expanding customer base. This scale of growth requires capital, both financial and intellectual, which is exactly what SignEasy found in its new group of investor-advisors.
SignEasy’s new group of investor-advisors includes some of the software industry’s most accomplished founders and operators, whose own knowledge and experience will help guide SignEasy’s future. In addition to Stoppelman, Mathrubhootam and Rissell, new investor-advisors include: Pallav Nadhani, Founder and ex-CEO, FusionCharts; Manav Garg, Founder and CEO, Eka Software and Anand Chandrasekharan, former Snapdeal CPO and Facebook Director.
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SignEasy is also excited to welcome long-time advisor Kyle Flowers as its first-ever Chief Operating Officer. Having previously held senior executive positions with Invoice2go and j2 Global, Flowers is a SaaS veteran whose leadership will be instrumental in the company’s continued growth, including overseeing sales and marketing efforts globally.
“We’ve been serving professionals and small businesses for more than 10 years, and now it’s time for us to tap into the expertise of entrepreneurs whose companies have scaled through serving the rapidly changing needs of small and medium sized businesses,” said SignEasy founder & CEO, Sunil Patro.
“Bootstrapping for as long as we did was by design; it wasn’t until we had a sustainably profitable business — five years of consistently increasing revenue — that we felt comfortable having others’ money at stake. What matters most at this point are the valuable ideas and unique perspectives that these individuals bring; unlike money, those aren’t commodities,” Patro added. “We want to work with people who share our values, including an ownership mindset, which is why it made sense to combine our advisory board expansion with a capital raise.”
“SignEasy is one of those rare companies that was able to bootstrap profitably to millions of dollars of revenue, and the rapid adoption of eSignature usage in 2020 is driving even more accelerated growth,” explained Girish Mathrubhootam. “I consider it a great privilege to work with Sunil and this impressive investor-advisor group to continue the momentum.”
“I love to build companies, but have found that I love to help passionate entrepreneurs grow and scale their own companies even more,” shared Matt Rissell. “In SignEasy, I saw a bootstrapped company with exceptional values, an innovative product, and a unique, modern approach to something that has been part of human interactions for thousands of years. Needless to say, I was hooked. I am thrilled to invest in SignEasy and support its team through the next step in its growth.”
That SignEasy chose an atypical path should come as no surprise — with culture shoutouts headlining company meetings; a relocation of the company’s headquarters to Dallas to better support a globally-distributed team; and the evolution from a mobile-first, app-based product for individuals to a true B2B SaaS company. Decisions are made based on what makes sense for the company’s customers and employees, not the way everybody else does it.
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The strategy up until now has yielded tremendous results. Steady growth since its founding in 2010, consistent year-over-year profitability, and a doubling of employee headcount this year speak to the fast track that SignEasy is on. In 2020, SignEasy’s multi-seat business customer base has grown by 100%, product usage is up by 140%, and API platform-based usage has risen by a whopping 500%.
Through its iOS, Android, web apps, and third-party integrations, SignEasy serves more than 159,000 customers, representing 35,000 unique businesses, of all sizes, helping them execute business critical documents and contracts from any device and anywhere. Notable customers include Freshworks, Rappi, David Yurman, Unacademy, Endeavor, AngelList and Occidental Petroleum. The SignEasy app, which is available in 180 countries and supports 24 languages, is used by more than 7 million people to sign, send, and manage documents.
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