DocuSign Resilient To COVID-19

DocuSign plans to leverage the acquisition to enhance its AI capabilities for its CLM offering. The integration will help DocuSign provide its customers with a “faster, more efficient agreement process”. It was already reselling Seal’s analytics and machine learning application as part of DocuSign Agreement Cloud. Prior to the acquisition, Seal Software was privately held and had raised $58 million from investors including Toba Capital, Tern, and DocuSign itself. DocuSign had invested $15 million in Seal in 2019.

The stock market has taken quite a hit due to the concerns of the rapidly spreading COVID-19 pandemic. However, DocuSign appears to be resilient to this dip. Analysts believe that the number of agreements being signed may decline in the near future, but digital signing will increase as people will avoid meeting each other face-to-face. DocuSign also believes that since most of its implementations are done remotely, COVID-19 could accelerate the transition of companies from physical to digital document signings.   

Its stock is currently trading at $77.32 with a market capitalization of $13 billion. It touched a 52-week high of $92.55 in February this year. It had fallen to a 52-week low of $43.13 in August last year.

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Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

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