The French startup Yousign has raised a round of funding of $ 36.6 million of Series A (30 million euros). Lead Edge Capital is leading the round and eFounders is investing in the company again. Yousign, as its name suggests, is an electronic signature supplier that complies with European regulations on digital signatures.
While the company was originally founded in 2013, Yousign teamed up with start-up studio eFounders in 2019. As a result of this agreement, eFounders has become a key shareholder and strategic partner.
Things have changed a lot since then, as the electronic signature market has grown considerably. You may be familiar with DocuSign, Adobe Sign, SignNow, HelloSign, and many other readers. But none of them were designed for the European market from scratch.
Yousign wants to become the European alternative to these American companies. More specifically, the startup thinks it can convince small and medium-sized businesses that do not yet use an electronic signature solution. Instead of asking DocuSign clients to switch, Yousign wants to convert new clients to electronic signatures.
“Faced with American giants with large perimeters and complex products, we have built an accessible and easy-to-use solution, allowing SMEs to sign their first documents within an hour, and not within a month,” said Luc Pallavidino , co-founder and CEO of Yousign. in a report.
Yousign is a certification authority and complies with eIDAS – a European framework for electronic signatures. This means that the signatures are legally binding and that the service archives your documents in partnership with Arkhineo.
Like other electronic signature services, you can create document templates, approval workflows, and reminders. Yousign ensures that the right person signs the document with strong authentication processes and that all events are time stamped. It’s a SaaS product, which means you have to pay a subscription to access the service.
With today’s funding round, Yousign wants to reach 50,000 European SMEs by 2024 – it now has 6,000 clients. This would represent an annual recurring turnover of 85 million dollars (70 million euros). In 2020 alone, the company grew from 35 to 120 employees. The startup now plans to hire an additional 150 employees over the next 18 months.