Even in the very best of times, finding a notary can be a challenge. In the middle of a pandemic, it’s even more challenging. DocuSign announced it has gotten Liveoak Technologies today for approximately. $38 million, offering the company an online notarization option.
At the very same time, < a class="crunchbase-link"href="https://crunchbase.com/organization/docusign"target="_ blank"data-type="organization" data-entity =”docusign”> DocuSign announced a brand-new item called DocuSign Notary, which ought to relieve the notary requirement by allowing it to take place online together with the eSignature. As we get deeper into the pandemic, business like DocuSign that enable deals to take place entirely digitally are in more demand than ever. This brand-new product will be available for early access later in the summer.
The deal made sense given that the two companies had a partnership currently. Liveoak brings together live video, collaboration tooling and identity verification that enables parties to get notarized approval as though you were sitting at the desk in front of the notary.
Usually, you might get a document that requires your signature. Without electronic signature, you would need to print it, sign the file, scan it and return it. If it requires a notary, you would require to sign it in the notary’s existence, which requires an in-person visit. All of this can be structured with an online workflow, which DocuSign is providing with this acquisition.
It resembles the perfect pandemic acquisition, making a manual process digital and saving people from needing to make face-to-face deals at a time when it can be hazardous.
Liveoak Technologies was established in 2014 and belongs to the Austin, Texas startup scene. The business raised just under $28 million throughout its life as a private company. The firm most just recently raised $8 million at a post-money assessment of $30.4 million, according to Pitchbook information. Offered the quantity that DocuSign paid for the firm, it appears to have actually gotten a bargain.
This acquisition becomes part of a growing pandemic acquisition pattern of sorts where larger public business companies are plucking early stage startups, sometimes for reasonably bargain prices. This consists of Apple purchasing Fleetsmith and ServiceNow getting Sweagle last month.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.