DocuSign files for IPO

The e-signature and digital transaction management firm reported $381.5 million in revenue for the most recent fiscal year, along with a net loss of $115.4 million.

DocuSign, the e-signature and digital transaction management firm, has filed to go public on the Nasdaq exchange under the symbol "DOCU.".

In its S-1 form filed with the US Securities and Exchange Commission, the company said it brought in $381.5 million in revenue for the fiscal year that ended January 31, 2017, representing 52 percent year-over-year growth. It reported a net loss of $115.4 million for the fiscal year ending January 2017. For the fiscal year ending in 2016, its net loss came to $122.6 million.

The company, founded in 2003, has more than 350,000 companies using its cloud-based platform. It counts seven of the top 10 global technology companies among its customers, as well as 18 of the top 20 global pharmaceutical companies and 10 of the top 15 global financial services companies.

While DocuSign continues to grow, it notes under "risks" that "we have a history of operating losses and may not achieve or sustain profitability in the future."

The company noted its significant investment in research and development -- more than $300 million -- and noted that its total addressable market is an estimated $25 billion. The company also recently acquired the technology and core team members from machine learning startup Appuri, known for its segmentation technology that lets companies deliver targeted marketing messages and product recommendations.

Among other risks, DocuSign also noted that its security measures "have on occasion in the past been, and may in the future be, compromised." Last year, DocuSign revealed a data breach that allowed malicious actors to conduct a wide-ranging phishing campaign. Last month, IBM researchers said criminals were using spoofed DocuSign login pages for a phishing campaign on more than 100 compromised websites.

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