What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2022-03-25 compared with 2021-03-31 · 145 added, 146 removed, 226 unchanged (56% of the section changed)

DocuSign helps organizations do business faster with less risk, lower costs, and better experiences for customers and employees.

We accomplish this by transforming the foundational element of business:

the agreement.

DocuSign offers the world’s leading electronic signature product, enabling an agreement to be signed electronically on a wide variety of devices, from virtually anywhere in the world, securely.

This is the foundation of the DocuSign Agreement Cloud, which allows organizations to do business faster with less risk, lower costs, while providing better experiences for customers and employees.

Agreements are everywhere.

5 unchanged sentences

Our value proposition is simple to understand:

eliminate the paper, automate the processes, and connect to other systems where work gets done.

This allows organizations to substantially reduce turnaround times and costs, as well as largely eliminate errors.

The DocuSign Agreement Cloud is our cloud software suite for automating and connecting the entire agreement process.

It includes DocuSign eSignature, the world’s #1 electronic signature solution.

DocuSign eSignature allows an agreement to be signed electronically on a wide variety of devices, from virtually anywhere in the world, securely.

The Agreement Cloud also includes several other applications for automating pre- and post-signature processes—for example, automatically generating an agreement from data in other systems, supporting negotiation workflow, collecting payment after signatures, and using artificial intelligence (“A”I) to analyze a collection of agreements for risks and opportunities.

Finally, the Agreement Cloud includes hundreds of integrations to other systems, so agreement processes can integrate with larger business processes and data.

The DocuSign Agreement Cloud has more than 890,000 customers and hundreds of millions of users.

Our customers range from the largest global enterprises to sole proprietorships, across industries, around the world.

Within a given organization, our technology can be used broadly across business functions:

contracts for sales, employment offers for human resources, non-disclosure agreements for legal, among many others.

For example, one of our customers has implemented more than 300 such use cases across its enterprise.

This broad potential applicability drives our total addressable market for electronic signature to be approximately $25 billion according to our estimates, with substantial upside for automating aspects of the agreement process before and after the signature.

To address our opportunity, our sales and marketing strategy focuses on enterprise businesses, commercial businesses, and very small businesses (“VSBs”).

eliminate the paper, automate processes, and connect to other systems where work gets done.

This allows organizations to reduce turnaround times and costs, largely eliminate errors, and deliver a streamlined customer experience.

The DocuSign Agreement Cloud is our cloud software platform that automates and connects the entire agreement process.

It starts with DocuSign eSignature, the world’s #1 electronic signature product.

The DocuSign Agreement Cloud also includes several other applications for automating pre- and post-signature processes—for example, automatically generating an agreement from data in other systems, supporting negotiation workflow, verifying identities, assisting remote online notary, collecting payment after signatures, and using artificial intelligence (“AI”) to analyze a collection of agreements for risks and opportunities.

Finally, the DocuSign Agreement Cloud includes over 400 partner integrations with the world’s most popular businesses, so agreement processes can integrate with larger business processes and data where work happens.

As of January 31, 2022, the DocuSign Agreement Cloud has over 1.1 million customers and more than a billion users in over 180 countries.

Our customers range from the largest global enterprises to sole proprietorships and nonprofits, across virtually all industries and around the world.

Within a given organization, our technology can also be used broadly across business functions:

contracts for sales, employment offers for human resources, and non-disclosure agreements for legal, among many others.

This broad potential applicability drives our total addressable market for the DocuSign Agreement Cloud (including electronic signature) to be approximately $50 billion according to our estimates.

To address this opportunity, our sales and marketing strategy focuses on businesses at all scales, from global enterprise to local very small businesses (“VSBs”).

We rely on our direct sales force and partnerships to sell to enterprises and commercial businesses, and our web-based self-service channel to sell to VSBs, which is the most cost-effective way to reach our smallest customers.

2 unchanged sentences

This helps us deliver continued value and creates opportunities for increased usage.

In addition, our marketing and sales efforts often benefit from the fact that many of our prospects already know us from being signers—for example, they might have accepted a job offer or completed the purchase of a home via DocuSign eSignature.

These experiences tend to have a meaningful impact on people’s lives.

As a result, when we sell into these people’s companies, we often find that awareness and favorability toward DocuSign is already present among buyers and influencers.

In addition, our marketing and sales efforts often benefit from the fact that many of our prospective customers have had positive experiences using DocuSign eSignature—for example, they might have accepted a job offer or completed the purchase of a home.

As a result, when we sell into these people’s companies, we often find that awareness and favorability toward DocuSign are already present among buyers and influencers.

The DocuSign Agreement Cloud

Since inception in 2003, DocuSign pioneered the electronic signature category and now offers the world’s #1 electronic signature solution.

In our evolution, it became apparent that digitizing and automating signatures was the trigger to a larger transformation of the agreement process itself—from preparing to signing, acting on, and managing agreements.

The opportunity to address this larger transformation gave rise to the DocuSign Agreement Cloud, our cloud software suite for automating the entire agreement process.

The Agreement Cloud is an umbrella for:

DocuSign offers the world’s leading electronic signature solution, enabling businesses to send and sign agreements securely and quickly from almost any device and almost anywhere in the world.

DocuSign eSignature is now the central component and main on-ramp into the DocuSign Agreement Cloud, which helps organizations connect and automate the entire agreement process.

The DocuSign Agreement Cloud consists of:

DocuSign, Inc.| 2022 Form 10-K | 6

• A suite of applications that span the entire agreement process.

• A cloud platform containing a suite of applications that span the entire agreement process.

These applications and add-ons are detailed below under “Our Products.”

• Hundreds of integrations with other systems where work gets done , such as applications offered by Google, Microsoft, Oracle, Salesforce, SAP, and Workday.

For example, because of an integration that embeds DocuSign functionality into the Salesforce user experience, a sales representative can generate, send, and track an agreement via DocuSign services without ever leaving the Salesforce application.

• Hundreds of integrations with other mainstream systems where work gets done , such as applications offered by Google, Microsoft, Oracle, Salesforce, SAP, and Workday.

For example, the integration that embeds DocuSign functionality into the Salesforce user experience enables a sales representative to generate, send, and track an agreement via DocuSign services without ever leaving the Salesforce application.

Behind the scenes, account data from Salesforce can automatically pre-fill the agreement.

1 unchanged sentence

• Platform technologies such as APIs (application programming interfaces) and common infrastructure, detailed below in “Our Technology, Infrastructure and Operations.”

In addition to what we do, we believe we are distinguished by how we do it:

In addition to what we do, we believe we are differentiated by how we do it:

• Stringent security standards .

We seek to meet the industry’s most rigorous security certification standards and use the strongest data encryption technologies that are commercially available.

We believe our systems and processes also exceed industry practices for data protection, transmission and secure storage—including being certified for the global security gold standard, ISO 27001, among many other privacy and security certifications.

We believe our systems and processes also exceed industry practices for data protection, transmission and secure storage—including being certified for the globally recognized security standard, ISO 27001, among many other important privacy and security certifications.

• Highly available .

Our main infrastructure is powered by near real-time data synchronization across a ring of three geo-dispersed data centers in the United States (“U.S.”), and a similar ring of data centers in Europe.

This infrastructure has enabled us to deliver over 99.99% availability to our eSignature customers and users worldwide over th e past 12 months.

Our main infrastructure is powered by near real-time data synchronization across a ring of four geo-dispersed data centers in the United States (“U.S.”), and a similar ring of data centers in the European Union (“EU”).

This infrastructure has enabled us to deliver over 99.99% availability to our DocuSign eSignature customers and users worldwide over th e past 12 months.

• Globally adopted .

1 unchanged sentence

This is key, given that different regions have different laws, standards and cultural norms.

We enable multiple parties in different jurisdictions to complete agreements and other documents in a legally valid manner.

In Europe, we have offerings tailored for the European Union's (“EU’s”) eIDAS regulations, as well as for verifying European eIDs.

To follow longstanding tradition in Japan, we enable signers to upload and apply their personal eHanko to represent their signatures on an agreement.

We assist multiple parties in different jurisdictions to complete agreements and other documents in a legally valid manner.

For example, in Europe, we have offerings tailored for the EU’s electronic Identification, Authentication and Trust Services (“eIDAS”) regulations, as well as for verifying European eIDs.

• Highly auditable .

1 unchanged sentence

It includes party names, email addresses, public IP addresses, and a time-stamped record of individuals’ interactions with the document.

This level of evidence and auditability exceeds what was possible with traditional ink-on-paper signatures.

• Vertical solutions.

We offer solutions specific to particular industries.

In some cases, these may be variants of a product like DocuSign eSignature—for example, our additional DocuSign eSignature options for supporting compliance with U.S.

This level of evidence and auditability exceeds what is possible with traditional ink-on-paper signatures.

• Vertical offerings.

We offer enhanced solutions tailored to particular industries, such as financial services, real estate, life sciences, and government.

In some cases, these may be variants of a product like DocuSign eSignature—for example, our additional DocuSign eSignature options for assisting with compliance with U.S.

Food and Drug Administration regulations.

1 unchanged sentence

• Simple to use .

A key reason we have hundreds of thousands of customers, and hundreds of millions of signers, is our products’ usability.

A key reason for our customer loyalty is our products’ usability.

Especially with DocuSign eSignature, we are widely known for our ease of use and customer satisfaction.

2 unchanged sentences

Our extensive APIs enable DocuSign products to be quickly embedded into or connected with an organization’s own apps, systems and processes.

In the case of DocuSign eSignature, this has led to the majority of transactions being driven through our API today.

In the case of DocuSign eSignature, this has led to the majority of transactions being driven through our APIs today.

By integrating with the other systems our customers use to do business—as opposed to simply being a standalone app—we promote greater usage and engagement with our products.

We believe customers benefit from working with us in four main ways:

• Accelerated transactions and business processes .

We believe customers benefit from working with us in many ways, including:

• Do business faster .

By replacing manual, paper-driven processes with automated digital workflows, DocuSign can substantially reduce the time and labor necessary to complete agreements.

In fiscal 2022, 79% of all transactions on our DocuSign eSignature platform were completed in less than 24 hours and 44% within 15 minutes.

Our other products also contribute to faster turnaround times, such as less time spent creating new agreements or less time spent finding completed agreements that include certain legal provisions.

• Improved customer and employee experience .

Organizations that use DocuSign internally and externally can deliver a simpler, more convenient experience for their own customers and employees.

Our other products also contribute to faster turnaround times, such as less time spent creating new agreements or less time spent finding completed agreements that include certain legal rights or obligations.

• Better customer and employee experience .

Organizations that use DocuSign services internally and externally can deliver a simpler, better experience for their own customers and employees.

For example, DocuSign eSignature replaces the hassle of faxing, printing, scanning, emailing, and other manual activities with a few clicks or taps—which can be done from practically anywhere, at any time.

1 unchanged sentence

DocuSign, Inc.| 2022 Form 10-K | 7

• Reduced cost of doing business .

• Significantly reduced manual processes and cost of doing business .

We believe that when manual processes are digitally transformed, the cost of doing business goes down.

When organizations replace paper-based processes with DocuSign eSignature, for example, organizations see significant cost savings per agreement in labor and materials (paper, printer/copier consumables, envelopes, and postage).

Our other Agreement Cloud products help reduce legal costs in finding and reviewing documents, reduce customer-support costs by automatically guiding customers through complex agreement forms, and focus sales representatives’ time on selling rather than paperwork by automating agreement generation.

Our other DocuSign Agreement Cloud products help reduce legal costs in finding and reviewing documents, reduce customer-support costs by automatically guiding customers through complex agreement forms, and focus sales representatives’ time on selling rather than paperwork by automating agreement generation.

• Reduced risk .

Organizations that rely on manual, paper-based agreement processes may be prone to error and difficult to audit.

Using the Agreement Cloud, organizations can centralize, standardize, and automate agreement processes—so employees have an easy way to use approved processes and templates, with audit trails generated automatically.

Using the DocuSign Agreement Cloud, organizations can centralize, standardize, and automate agreement processes—so employees have an easy way to use approved processes and templates, with audit trails generated automatically.

Also, AI technologies can help employees identify risks within large sets of existing agreements that would otherwise be impractical for manual review.

Finally, fewer manual interactions during an agreement’s lifecycle means fewer opportunities for mishandling or improper access.

• Minimized environmental impact.

Environmental sustainability has been an important part of the DocuSign story since its inception.

DocuSign eSignature not only reduces the use of paper, but also significant amounts of the waste, water, carbon, and wood required to make that paper.

We believe that DocuSign has an important role in creating a low-carbon, sustainable future and our products can help our customers incorporate sustainability into their business operations.

Our Growth Strategy

1 unchanged sentence

▪ Drive new DocuSign eSignature customer acquisition .

Despite our success with DocuSign eSignature to date, we believe its market remains largely underpenetrated.

We offer the world’s leading e-signature solution, which has successfully streamlined the agreement process for our customers.

Despite our success with DocuSign eSignature to date, we believe its market remains largely under-penetrated.

As a result, there is a vast opportunity to take DocuSign eSignature to many more enterprises, commercial businesses, and VSBs around the world.

• Expand DocuSign eSignature use cases within existing customers .

A company’s first exposure to the DocuSign Agreement Cloud is often when DocuSign eSignature is used to accelerate the execution of sales agreements.

Once a company begins to realize the benefits, we often have an opportunity to expand into other use cases—for example, going from sales into services, human resources, finance, and other functions—thereby increasing the overall number of agreement processes that are automated.

• Propel the digitalization of agreement process through DocuSign eSignature+ expansion .

A company’s first exposure to the DocuSign Agreement Cloud is often through the use of DocuSign eSignature in accelerating the execution of sales agreements.

Our DocuSign eSignature+ strategy aims to expand beyond the initial eSignature use case to facilitate the digitalization of the customer’s agreement process through engagement of other DocuSign Agreement Cloud products.

For example, in addition to eSignature and the add-ons offerings for outbound agreements such as Gen or Negotiate for Salesforce, a company can also utilize Analyzer, powered by artificial intelligence, to analyze inbound agreements, Identify to integrate enhanced identification or authentication methods, Payments to expedite payment collections, and Insight to derive meaningful data from existing digitalized contracts for optimized contract negotiation, spend management, and operational and compliance risk management.

At every step of this digitalization process, we also see an opportunity to expand across the organization —for example, going from sales into services, human resources, finance, and other functions—thereby increasing the overall number of agreement processes that are automated.

Our largest and most advanced customers have hundreds of use cases deployed, but the vast majority of our customers have only deployed a few use cases.

Thus, we believe there is strong potential to expand within our existing base.

Thus, we believe there is strong potential to expand within our existing customer base.

We will pursue this by augmenting our dedicated customer success team to identify and drive adoption of new use cases.

• Extend customer relationships to other Agreement Cloud products .

We believe DocuSign eSignature is the natural on-ramp for customers into other Agreement Cloud offerings.

Different customers will have their own paths for which products to buy next, and an increasing percentage of new customers are buying multiple Agreement Cloud products at the outset.

We expect to expand and evolve our sales, customer success, and partnering organizations to further support sales and service to multi-product customers.

• Accelerate international expansion .

2 unchanged sentences

We expect offerings such as eIDAS-compliant Standards-Based Signature for the EU and eHanko functionality for Japan will help support our international growth.

• Continue augmenting our Agreement Cloud offerings .

In addition to eSignature, the Agreement Cloud has several products that cover different aspects of the agreement process.

We expect to continue investing in research and development to enhance those products, as well as to develop new products that further augment the Agreement Cloud.

• Invest in innovation and expansion of our DocuSign Agreement Cloud offerings .

In addition to DocuSign eSignature, the DocuSign Agreement Cloud has several products that cover different aspects of the agreement process and solutions tailored for specific industry verticals, such as financial services, healthcare, life sciences and government.

We expect to continue investing in research and development to enhance those products, as well as to develop new products that further augment the DocuSign Agreement Cloud.

In addition, we expect to continue to use partnerships to offer new integrations and, in some cases, products for resale.

Finally, we may acquire additional capabilities, such as the technology assets brought through our acquisitions of SpringCM (September 4, 2018), Seal Software (May 1, 2020) and Liveoak Technologies (July 6, 2020).

• Expand vertical solutions .

While our overall value proposition is universal, we will continue to invest in sales, marketing and technical expertise across several industry verticals, each of which have differentiated business requirements.

We also intend to continue enhancing solutions tailored for important verticals, such as real estate, mortgage, life sciences, and government.

Finally, we have acquired and may continue to acquire additional capabilities and make investments in key technologies, such as our acquisitions of Seal Software (May 1, 2020) and Liveoak Technologies (July 6, 2020).

• Strengthen and foster our developer community .

With over 200,000 developer sandboxes created, which enable product development and testing in isolated environments, and the majority of transactions on our eSignature platform processed via our APIs today, we believe we have a strong developer community.

With over 200,000 developer sandboxes created to enable product development and testing in isolated environments, and the majority of transactions on our DocuSign eSignature platform processed via our APIs today, we believe we have a strong developer community.

Our easy-to-use and robust APIs allow developers to extend and integrate DocuSign products into their own applications.

These developers help expand DocuSign functionality to other systems, thus driving greater usage of our offerings.

We intend to continue investing in our APIs and other forms of support to further drive this virtuous cycle of value creation between developers and the DocuSign Agreement Cloud.

DocuSign, Inc.| 2022 Form 10-K | 8

The Agreement Cloud includes a set of products that address different aspects of the agreement process, in some cases for particular market segments or industries.

We therefore focus on assembling the right mix of Agreement Cloud products to address the specific needs of individual customers.

For example, a biotech startup in San Francisco will have a different set of Agreement Cloud products than a multinational European consumer-packaged-goods company.

Key Agreement Cloud products include:

• eSignature, our anchor product.

DocuSign eSignature enables sending and signing of agreements on a wide variety of devices, from virtually anywhere in the world, securely.

developers help expand DocuSign functionality to other systems, thus driving greater usage of our offerings.

We intend to continue investing in our APIs and other forms of support to further drive this virtuous cycle of value creation between developers and the DocuSign Agreement Cloud.

The DocuSign Agreement Cloud enables businesses to address each aspect of the agreement process, with solutions tailored for each step in the agreement lifecycle and, in some cases, for particular market segments, industries or geographic regions.

We therefore focus on assembling the right mix of DocuSign Agreement Cloud products to address the specific needs of individual customers.

For example, a biotech startup in San Francisco will have a different set of DocuSign Agreement Cloud products than a multinational European consumer packaged goods company.

Key DocuSign Agreement Cloud products include:

• DocuSign eSignature, our anchor product, enables sending and signing of agreements on a wide variety of devices, from virtually anywhere in the world, securely.

We offer multiple editions and add-ons that can be combined to fit the needs of different organizational sizes, industries, and regions.

1 unchanged sentence

It provides larger organizations the flexibility to model complex processes for generating, negotiating, acting on, and storing agreements.

• Insight uses artificial intelligence to search and analyze agreements by legal concepts and clauses.

• Insight uses AI to search and analyze agreements by legal concepts and clauses.

It can work across a large volume of agreements, both from DocuSign eSignature and from other sources.

• Analyzer helps customers understand what they’re signing before they sign it.

An add-on to Insight, Analyzer uses artificial intelligence to analyze inbound agreements.

An add-on to Insight, Analyzer uses AI to analyze inbound agreements.

It can detect the presence or absence of clauses by their type, score their risk, and extract key terms.

7 unchanged sentences

• Identify is a family of enhanced signer-identification options, such as for checking government-issued IDs.

• Standards-Based Signatures support signatures that involve digital certificates, including those specified in the EU’s eIDAS regulations for advanced and qualified electronic signatures.

• Standards-Based Signatures support electronic signatures that utilize digital certificates, including those specified in the EU’s eIDAS regulations for advanced and qualified electronic signatures (also known as digital signatures).

• Payments enables customers to collect signatures and payment in just one step—reducing collection times, increasing collection rates, reducing errors and associated risk, and saving time.

With Payments, customers can accept credit cards, debit cards, ACH payments, Apple Pay and Google Pay.

• eNotary offers the ability to execute in-person notarial acts electronically.

As of March 2021, we offer eNotary for electronic documents and records in more than 20 states.

Our industry-specific Agreement Cloud offerings include:

• Remote Online Notary is a solution using audio-visual and identity verification technologies to enable notarization being done remotely.

• Monitor uses advanced analytics to track DocuSign eSignature web, mobile and API account activity across the customer’s organization to provide near real-time visibility and strengthen security operations.

Our industry-specific DocuSign Agreement Cloud offerings include:

• Rooms for Real Estate provides a way for brokers and agents to manage the entire real estate transaction digitally.

2 unchanged sentences

integration with zipForm and other providers to simplify the completion of paperless forms;

and an API to ensure easy connection with CRM systems, accounting software and other real estate related systems.

• Rooms for Mortgage provides a secure, digital workspace to create and close mortgages.

Lenders can use Rooms for Mortgage to collect borrower documents, assemble closing packages with external participants like title and settlement, and keep transactions moving with configurable checklists and reminders.

• eSignature for U.S.

Federal Government is a FedRAMP-authorized version of DocuSign eSignature for U.S.

federal government agencies, which runs within special data center boundaries and offers dedicated storage and encryption of agencies’ data.

and an API to ensure easy connection with Customer Relationship Management (“CRM”) systems, accounting software and other real estate related systems.

• DocuSign Federal and DocuSign CLM are Federal Risk and Authorization Management Program (“FedRAMP”)-authorized versions of DocuSign eSignature and CLM commercial products for the U.S.

federal government

DocuSign, Inc.| 2022 Form 10-K | 9

agencies, running within dedicated data centers and system boundaries that offer heightened security in the storage, transmission, and encryption of data.

• Life Sciences Modules for 21 CFR Part 11 are add-ons for DocuSign eSignature that support compliance with the electronic signature practices established by the U.S.

Food and Drug Administration’s 21 CFR Part 11 regulations.

DocuSign, Inc.| 2021 Form 10-K | 8

Different pricing structures apply to different Agreement Cloud products.

• Rooms for Mortgage provides a secure, digital workspace to create and close mortgages.

Different pricing structures apply to different DocuSign Agreement Cloud products.

For DocuSign eSignature, we price our subscriptions based on the functionality required by our customers and the quantity of Envelopes provisioned.

3 unchanged sentences

Our Technology, Infrastructure and Operations

Our core technology platform stems from the extensive infrastructure necessary to support hundreds of thousands of DocuSign eSignature customers, including some of the world’s largest companies.

Today, that platform increasingly underpins the broader Agreement Cloud.

Our core technology platform stems from the extensive infrastructure necessary to support over 1.1 million DocuSign eSignature customers, including some of the world’s largest companies.

Today, that platform increasingly underpins the broader DocuSign Agreement Cloud.

The architecture, design, deployment and management of our core platform is centered on innovation in the following areas:

• Global security and privacy management .

DocuSign’s foundational platform is built on industry-standard algorithms and patented and patent-pending security features and technologies in our product.

DocuSign’s foundational platform is built on industry-standard algorithms and security features as well as patented and patent-pending technologies in our product.

Distributed transactions are digitally signed and hash-validated for consistency.

Our service protocols and operations meet or exceed some of the most stringent U.S., EU and global security standards.

DocuSign’s platform meets ISO27001, SSAE 18, SOC 1 Type 2, SOC 2 Type 2 and PCI certifications.

Our service protocols and operations are based on stringent global industry security standards.

DocuSign’s platform maintains compliance with ISO27K (27001, 27017, 27018), PCI, and SSAE 18 standards.

In addition, DocuSign’s eSignature and CLM products are FedRAMP-authorized.

1 unchanged sentence

Recognizing that our customers often depend on DocuSign for their day-to-day operations, we are committed to providing best-in-class availability.

As such, we have delivered over 99.99% eSignature availability to our customers and users worldwide ov er the past 12 months , and we have required no downtime or maintenance windows.

Our eSignature services are designed as an always-on, geographically redundant and distributed cloud solution that runs in SSAE 18 audited data centers in the U.S.

As such, we have delivered over 99.99% DocuSign eSignature availability to our customers and users worldwide ov er the past 12 months , and we have required no downtime or maintenance windows.

Our DocuSign eSignature services are designed as an always-on, geographically redundant and distributed cloud solution that runs in SSAE 18 audited data centers in the U.S.

We offer near real-time secure data replication and encrypted archival.

11 unchanged sentences

And for the agreement process, we enable the rapid validation of first-time signers who are not account holders.

To be compliant with regulations in different countries, DocuSign offers identity proofing for standard electronic signatures, advanced electronic signatures and qualified electronic signatures (the latter two being terms defined in the EU’s eIDAS regulations).

To help customers comply with laws and regulations in different countries, DocuSign offers identity proofing for standard electronic signatures, advanced electronic signatures and qualified electronic signatures (the latter two being terms defined in the EU’s eIDAS regulations for digital signatures).

• Digital transaction processing .

At the heart of our solution is a robust, proprietary digital transaction processing platform.

At the heart of our DocuSign eSignature product is a robust, proprietary digital transaction processing platform.

It operates at global scale, dynamically routing, rendering, versioning and storing millions of documents per day in the year ended January 31, 2022.

3 unchanged sentences

we recently added the ability to use AI to automatically apply tags to a document.

DocuSign, Inc.| 2022 Form 10-K | 10

• Integration into companies’ systems and processes .

Companies can incorporate eSignature into the fabric of their business systems and processes by using one of more than 350 pre-built connectors, or via a custom integration using our API.

Companies can incorporate DocuSign Agreement Cloud into the fabric of their business systems and processes by using one of more than 400 pre-built connectors, or via a custom integration using our API.

For a custom integration, the DocuSign Developer Center offers mobile or web app developers software development kits and technical documentation for our comprehensive API, helping them to integrate signing or sending experiences into their own applications.

They can also use DocuSign Connect—a real-time transactional event delivery service—to initiate specific actions when Envelopes originate, a workflow advances, or signing completes.

DocuSign, Inc.| 2021 Form 10-K | 9

Research and Development

Since inception, we have invested to build the world’s leading electronic signature solution and Agreement Cloud.

Since inception, we have invested in research and development (“R&D”) to build the world’s leading electronic signature solution and our DocuSign Agreement Cloud.

Our product and engineering team is responsible for the design, development, testing and certification of our products.

Our Customers

As of January 31, 2021, we had more than 890,000 paying customers globally, serving the needs of some of the largest enterprises and governmental organizations down to sole proprietors and individual end users.

As of January 31, 2022, we had over 1.1 million paying customers globally, serving the needs of some of the largest enterprises and governmental organizations down to sole proprietors and individual end users.

Our products meet the needs of all manner of industry categories-including real estate, financial services, insurance, health care, life sciences, government, higher education, communications, retail, manufacturing, travel and nonprofit—as well as the diverse number of customer-facing and back-office use cases within organizations—including sales, marketing, services, procurement, human resources, IT, legal and others.

2 unchanged sentences

Our sales and marketing teams are focused on driving adoption and expanded use of DocuSign’s products by customers and prospects across North America, Europe, the Middle East, Africa, Australia, Southeast Asia, Japan and Latin America.

We benefit greatly from our strong brand recognition given our association with the positive signing moment in millions of people’s lives—such as accepting a job or buying a house—which can create a marketing halo effect that helps influence the adoption of our solution at their companies.

Given that our offerings are designed to solve the needs of organizations of all sizes and across all industries and geographies, we sell to the following customer bases:

enterprises, commercial businesses and VSBs.

We benefit greatly from our strong brand recognition given our association with positive signing moments in people’s lives—such as accepting a job or buying a house—which can influence the adoption of our solutions at their companies.

Given that our offerings are designed to solve the needs of organizations of all sizes and across all industries and geographies, we sell to customer bases ranging from global enterprises to commercial businesses and nonprofits to small-to-medium-sized businesses (“SMBs”), VSBs and sole proprietors.

Our go-to-market strategy leverages our direct sales force and partnerships to sell to enterprises and commercial businesses, and our web-based self-service channel to sell to VSBs, which is the most cost-effective way to reach our smallest customers.

13 unchanged sentences

We have strong partnerships with a number of global and regional systems integrators.

These relationships are key given that those firms act as strategic technology advisors to many large customers and prospects.

These relationships are important given that those firms act as strategic technology advisors to many large

DocuSign, Inc.| 2022 Form 10-K | 11

customers and prospects.

We intend to invest further in collaborating with these partners, especially those that are creating their own Agreement Cloud practices.

We partner with a host of leading independent software vendors—including our strategic partners above as well as vertical-oriented partners like Ellie Mae and Guidewire—to help bring the power of the DocuSign Agreement Cloud to customers around the world.

▪ Independent Software Vendors (“ISVs”) :

We partner with a host of leading ISVs—including our strategic partners above as well as vertical-oriented partners like Ellie Mae and Guidewire—to help bring the power of the DocuSign Agreement Cloud to customers around the world.

▪ Distributors and resellers :

1 unchanged sentence

We also have partnerships with solution providers such as Deutsche Telekom and others that have expertise in specific vertical and regional markets, enabling us to add further value directly to those markets.

DocuSign, Inc.| 2021 Form 10-K | 10

• Web-based Sales :

14 unchanged sentences

Customer support and success

We believe that customer adoption, support and success are critical to retaining and expanding our customer base.

We believe that customer adoption, support and success are critical to serving and expanding our customer base.

Our customer support and success team handles the rapid onboarding of customers;

2 unchanged sentences

and is available to customers by telephone, email or the web.

We also offer a range of professional services to help customers get to the business results they desire.

We also offer a range of professional services to help customers get the business results they desire.

DocuSign Customer Success provides expertise to quickly and successfully identify business outcomes and then design, integrate and deploy the solutions that meet a customer’s needs.

Our solutions engineers and technical experts can also design tailored solutions to help customers improve workflow and automate business processes.

We offer in-depth expertise, proven best practices and repeatable delivery methodologies designed to ensure success, regardless of the complexity of the organization or technology environment.

Human Capital Management

Our mission is to simplify and accelerate the way organizations and individuals come to agreement.

We are committed to building trust and making the world more agreeable for our employees, customers and the communities in which we live and work.

At DocuSign, our values are reflected in three pillars — trusted, loved, and responsible.

In addition to our mission to simplify and accelerate the way organizations and individuals come to agreement, we are committed to building trust and making the world more agree-able for our employees, customers and the communities in which we live and work.

We have several initiatives and strategies in place that reflect this commitment to our core values and our employees.

As of January 31, 2022, we had 7,461 employees, of which approximately 67% were in sales, marketing and customer success, 20% in engineering, product development and customer operations and 13% in general and administrative.

2 unchanged sentences

None of our employees is represented by a labor union with respect to his or her employment with us.

We have not experienced any work stoppages and we consider our relations with our employees to be good.

Expanded Support During the COVID-19 Pandemic

In light of extraordinary circumstances under the COVID-19 pandemic, we have created new resources for our employees in order to assist with the transition to a remote work environment.

We have not experienced any work stoppages and we consider our relations with our employees to be positive.

DocuSign, Inc.| 2022 Form 10-K | 12

Support for Employees in Hybrid Work Environment

During the COVID-19 pandemic, we along with many companies have increasingly transitioned to hybrid work environments, and we have created new resources for our employees in order to assist with this transition.

The health and safety of our employees is of utmost priority.

The majority of our employees have the opportunity to work remotely until October 2021, which may be extended for health and safety reasons.

We continue to monitor our hybrid work arrangements to support the well-being of our employees.

We have also invested in several programs designed to promote employee well-being and ensure that our employees are as effective at home as they would be in our offices worldwide.

These include additional wellness benefits, additional time-off opportunities, and special reimbursements and stipends designed to support our employees and their families.

These include additional wellness benefits, additional time-off opportunities, and special reimbursements designed to support our employees and their families.

Talent and Career Development

We are a global, inclusive organization with an increasingly international footprint.

We are a global and inclusive organization with an increasingly international footprint.

As we continue to grow in new markets, we anticipate continuing to recruit in new geographies.

DocuSign, Inc.| 2021 Form 10-K | 11

DocuSign is recognized as a company where employees can develop their careers.

4 unchanged sentences

At DocuSign, we believe in empowering employees so that they can do the work of their lives:

we want everyone to be able do challenging and meaningful work in an environment where each employee can be heard, exchange ideas openly, learn new skills and build lasting relationships.

We offer a number of resources to eligible employees to help engage and develop our employees including career development coursework and frameworks and education assistance for eligible employees.

we want everyone to be able to do challenging and meaningful work in an environment where each employee can be heard, exchange ideas openly, learn new skills and build lasting relationships.

We offer a number of resources to eligible employees to help engage and develop our employees including career development coursework, frameworks and education assistance.

Compensation and Benefits Programs

Our compensation programs are designed to recruit, reward and retain talented individuals who possess the skills necessary to support our business, contribute to our strategic goals and create long-term value for our stockholders.

We provide employees with competitive compensation packages that include base salary, bonus or commission plan and equity awards tied to the value of our stock price.

We aim to provide employees with competitive compensation packages that include base salary, bonus or commission plan and equity awards tied to the value of our stock.

We also provide a range of health, savings, retirement, time-off and wellness benefits for our employees, which vary based on local regulations and norms.

10 unchanged sentences

DocuSign’s Employee Resource Groups provide employees a way to meet colleagues outside peer groups, participate in personal and professional learning and development and give back to the community through volunteering, donation drives, and awareness campaigns.

• Transparency :

We publish employee diversity information by gender and race/ethnicity on our website to promote accountability and underscore our commitment to diversity.

1 unchanged sentence

DocuSign is dedicated to corporate responsibility and putting our values into action.

We believe that this engagement with our communities is an important aspect of our company culture and brings long-term value to our stockholders while making the world a better place.

With DocuSign IMPACT, we are committed to harnessing the power of DocuSign's people, products, and profits to make a difference in the global communities where our employees and customers live and work.

In 2018, we committed to donating at least $31 million in cash or stock to DocuSign IMPACT in the coming years.

In addition, the use of our products is associated with decreased paper use for our customers and we are particularly committed to protecting our environment.

We specifically donate to forest-protection and other environmental impact causes, amongst others.

In 2018, we committed to donating at least $30 million in cash or stock to DocuSign IMPACT over the next 10 years.

In addition, the use of our products is associated with decreased paper use for our customers

DocuSign, Inc.| 2022 Form 10-K | 13

and we specifically donate to forest-protection and other environmental impact causes.

Since we launched DocuSign for Forests in 2019, we have committed over $2.5 million to date to organizations doing critical work to preserve the world’s forests.

Additionally, we match funds given by our employees to qualifying non-profits.

4 unchanged sentences

Our Competition

Our primary global competitor for eSignature is currently Adobe, which began to offer an electronic signature solution following its acquisition of EchoSign in 2011 (now known as Adobe Sign).

Other global software companies may elect to

DocuSign, Inc.| 2021 Form 10-K | 12

include an electronic signature capability in their products.

We also face competition from a select number of niche vendors that focus on specific industries, geographies or product areas such as contract lifecycle management and advanced contract analytics.

Our primary global competitor for DocuSign eSignature is currently Adobe, which began to offer an electronic signature solution following its acquisition of EchoSign in 2011 (now known as Adobe Sign).

Other global software companies may elect to include an electronic signature capability in their products.

We also face competition from a select number of vendors that focus on specific industries, geographies or product areas such as contract lifecycle management and advanced contract analytics.

We believe the principal factors that drive competition between vendors in the future will include:

• breadth and depth of product-suite functionality;

• breadth and depth of innovative product-suite functionality (including proprietary product differentiators);

• breadth and depth of integrations with the applications and systems customers already use;

2 unchanged sentences

• brand awareness and reputation;

• total cost of ownership;

• unit costs and total cost of ownership;

• level of customer satisfaction;

1 unchanged sentence

We believe we compete favorably across these factors.

For additional information, see the section titled “Risk Factors—The market in which we participate is highly competitive, which may negatively affect our ability to add new customers, retain existing customers and grow our business.”

For additional information, see “Risk Factors”.

Intellectual Property

We rely on a combination of patent, copyright, trademark and trade secret laws in the U.S.

and other jurisdictions, as well as license agreements and other contractual provisions, to protect our proprietary technology.

We also rely on a number of registered and unregistered trademarks to protect our brand.

As of January 31, 2021, we had 46 issued patents in the U.S.

and 68 issued patents in foreign countries, which expire between July 2021 and November 2036, and 53 patent applications pending examination and two allowed patent applications in the U.S.

and 8 patent applications pending examination and one allowed application in foreign countries.

We own and develop significant intellectual property (“IP”) and related IP rights around the world that support our products, services, R&D, and other activities and assets.

Our IP portfolio includes patents, copyrights, trade secrets, trademarks and other rights.

We actively seek to protect our global IP rights and to deter unauthorized use of our IP and other assets.

We have obtained patents in the U.S.

and other countries.

As we expand our product offerings into new areas, we also seek to extend our patent development efforts to patent such products.

In addition to developing patents based on our own R&D efforts, we may purchase or license patents from third parties.

The software that we embed within our products, as well as software that we distribute, also is entitled to copyright and other IP protection.

We also protect details about our processes, products, and strategies as trade secrets, keeping confidential the information that we believe provides us with a competitive advantage.

In addition, we seek to protect our intellectual property rights by requiring our employees and independent contractors involved in development of intellectual property on our behalf to enter into agreements acknowledging that all works or other intellectual property generated or conceived by them on our behalf are our property, and assigning to us any rights, including intellectual property rights, that they may claim or otherwise have in those works or property, to the extent allowable under applicable law.

Despite our efforts to protect our technology and proprietary rights through intellectual property rights, licenses and other contractual protections, unauthorized parties may still copy or otherwise obtain and use our software and other technology.

In addition, we intend to continue to expand our international operations, and effective intellectual property, copyright, trademark and trade secret protection may not be available or may be limited in foreign countries.

Any significant impairment of our intellectual property rights could harm our business or our ability to compete.

Further, companies in the communications and technology industries may own large numbers of patents, copyrights and trademarks and may frequently threaten litigation, or file suit against us, based on allegations of infringement or other violations of intellectual property rights.

We are currently subject to, and expect to face in the future, allegations that we have infringed the intellectual property rights of third parties.

For additional information, see the section titled “Risk Factors—We are subject to legal proceedings and litigation, including intellectual property disputes, which are costly and may subject us to significant liability and increased costs of doing business.

Our business may suffer if it is alleged or determined that our technology infringes the intellectual property rights of others.”

Because of the fast pace of innovation and product development, our products are often obsolete before the patents related to them expire, and in some cases may be obsolete before the patents are granted.

Efforts to protect our IP can be difficult, particularly in countries that provide less protection to IP rights and in the absence of harmonized international IP standards.

Competitors and others may already have IP rights covering similar products.

There is no assurance that we will be able to obtain IP rights covering our own products, or that we will be able to obtain IP licenses from other companies on favorable terms or at all.

For a discussion of IP-related risks, see "Risk Factors".

DocuSign, Inc.| 2022 Form 10-K | 14

Corporate Information

5 unchanged sentences

Further, our references to website addresses are only as inactive textual references.

DocuSign, Inc.| 2021 Form 10-K | 13

“DocuSign,” the DocuSign logo, and other trademarks or service marks of DocuSign, Inc.

8 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business