DocuSign Inc. is a privately held company, founded in 2004, that provides other organizations with the technology to execute legal documents via electronic signatures. The company reported that 8 million users in 50 countries have used its systems to sign more than 70 million documents.

According to Chief Legal Officer Kenneth Moyle Jr., the field is attracting competitors, including Adobe Systems Inc.’s EchoSign. “This is a good sign that the industry is hitting its stride,” he said.