DocuSign’s Number of Customers (2020 – 2023)

This statistic highlights DocuSign’s number of customers, reported on a quarterly basis from Q1 2020 onwards.

DocuSign’s Number of Customers

The following table highlights the number of DocuSign’s customers in Q2 2021, Q1 2022, Q2 2022:

(All figures in thousands)

Enterprise and commercial customers

As per DocuSign,

• Enterprise customers are those companies, which are generally included in the Global 2000.
• Commercial customers consist of those mid-market companies which include companies outside the Global 2000 and have greater than 250 employees. It even includes small-to-medium-sized businesses, which have employees between the range of 10 and 249.

DocuSign offers its software suite to enterprise and commercial businesses for a subscription. These products and services are sold through numerous channels. However, under this category, direct sales force and partnerships are used to propagate the products. Initially, enterprise and commercial customers start with just one use case. But they implement additional use cases across their organization, once they see the benefits of this software suite.

Several large enterprise customers of DocuSign, have deployed its software suite for extensive use across their organizations. However, DocuSign will need intensive sales efforts to educate prospective customers, particularly enterprise and commercial customers, about the uses and benefits of its products and solutions.

As of Q2 2022, DocuSign has over 148,000 enterprise and commercial customers, compared to, over 99,000 enterprise and commercial customers as of Q2 2021. This is almost a 50% YoY increase in the total number of customers in this category. Even on a QoQ basis, DocuSign’s customers increased by 8.8%. This increase in the number of enterprise and commercial customers, is an indicator, of DocuSign’s market penetration, the growth of its business, and its potential future business opportunities.

Total customers

As per DocuSign,

• Total customers refer to all enterprises, commercial businesses, and VSBs.
• VSB are very small businesses with fewer than 10 employees. Examples include professionals, sole proprietorships, and individuals.

For VSBs, DocuSign uses its web-based self-service channel, unlike the Enterprise and Commercial customers. These channels are the most cost-effective way for DocuSign, to reach its smallest customers. VSBs tend to become customers quickly with negligible direct sales and customer support interaction. These generate smaller average contract values. However, commercial and enterprise customers typically involve longer sales cycles. 

DocuSign is highly focused to acquire new customers to support its long-term growth. As of Q2 2022, they had a total of over 1,053,000 customers, compared to almost 750,000 customers as of Q2 2021. This is more than a 40% YoY increase in its total customer base. On a QoQ basis too, there has been a 6.6% increase in this category. 

However, to increase the revenue, the sales of the products and solutions, along with the renewal of subscriptions with existing customers and their organizations is necessary. The existing customers, especially the enterprise customers, must increase their use by purchasing new products. This will bring in additional subscriptions. If the efforts to expand sales to its existing customers are not successful, then the business may suffer.

About DocuSign

DocuSign has pioneered the electronic signature system and offers the world’s number 1 electronic signature solution. It is listed on NASDAQ with the stock ticker DOCU.

DocuSign helps transforms the way agreements – a foundational element of the business is drafted, signed, and acted upon. This allows the organizations and companies to substantially reduce their times and costs, as well as largely eliminate errors. It also helps improve experiences for customers and employees. 

Incepting in the year 2003, the DocuSign Agreement Cloud, helped in automating and connecting the entire agreement process. Having more than 890,000 customers and hundreds of millions of users across the globe, DocuSign’s eSignature allows an agreement to be signed electronically, from anywhere in the world, securely. This Agreement Cloud also helps automate, pre-and post- signature processes.

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