How does Jason Lemkin feel the e-sign space has changed since he sold EchoSign? Are 100 million exits still possible?
I don’t think there is a materially large “e-sign space” anymore.
Broadly speaking, the market has evolved into three segments:
- Rich/Complex Workflow-based, especially for enterprise. DocuSign and Adobe Sign own this market. But. This space is as much about workflow for transactions as it is “signatures”. DocuSign will IPO at a $2b+ valuation so clearly there is still a good exit or two here. Also, this paradigm is getting a bit dated. There is room to reenvision this space.
- Self-use / mobile. I.e., sign something. There are a bunch of players here. But it is a commodity, and the products are cheap or free.
- Part of another, larger workflow beyond execution. E.g., automating procurement contracts, or automating contract management, etc. This is still evolving, but folks like PandaDoc have done interesting things here.
But the “get a signature” market is a commodity with medium/high engineering costs to keep up with the leaders. Not sure you want to play there.