TOKYO, September 20, 2022 /PRNewswire/ — SignTime is pleased to announce that it has successfully completed a series B Funding round in which ¥390,000,000 (USD $3,000,000at the time of financing) at a company valuation of 2,600,000,000 yen (USD $20,000,000).
“We are very pleased to take the next steps on our growth path and to support more companies in this Japan and become more efficient and productive around the world through the use of e-signatures and digital contracting,” he said Jim WeisserCEO and Founder of SignTime.
Jim Weisserand co-founder of SignTime Jonathan Sealwho hold multiple patents in the e-signature market, are both serial entrepreneurs in the technology industry with several successful high-growth corporate exits Japan and in the US. They were assisted in this endeavor by a team of expert consultants familiar with Japanese and global business practices, as well as a team of experienced technology experts in Japan.
SignTime was founded in 2020 as a SaaS and web-based application offering e-signatures and digital contract services. These include well-known e-signature functions as well as contract drafting and template functions, a database sending function and a secure digital contract archive with a unique tagging system that enables companies to access their documents quickly and highly securely from anywhere.
Digital contracting improves every aspect of a business with faster, cheaper and easier contracting, with sales departments often seeing the greatest benefit and utilization of the SignTime platform. SignTime eliminates paper-based hurdles, making it easier and faster to go from prospecting to lead development and closing in record time.
SignTime headquartered in Tokyo, which initially focused on the local Japanese market with digital “hanko” support (Japanese business stamps used in place of handwritten signatures) and approval process capabilities designed specifically for Japanese businesses, but has since acquired customers worldwide. “Our customer base is predominantly Japanese companies, with a mix of more internationalized companies operating in the US Asia Pacific region,” said Weisser, “and our main competitors are different Japan compared to foreign markets. in the Japan, our main “competitor” is paper and our paperless approach to documents is a superior product with full traceability, audit trails and compliance with Japanese regulations and regulatory frameworks. Our easy-to-use UX/UI and cost-efficiency set us apart from the competition around the world. However, in all markets we are making the sales process much easier.”
SignTimes Series A Round included several angel investors and venture capital firms. Some of them including Jonathan Seal and Yoshimasa Aikawaa SignTime advisor, are already associated with SignTime, while others are new to the company in the current funding round.
Markus Bivensa founding partner of Shizen Capital with over two decades of VC experience across Silicon Valley, Europeand Japancommented, “At Shizen Capital, we are very pleased to support SignTime as a lead investor. With its e-signature solution specially designed for the Japanese market, SignTime is driving digital transformation in Japanese companies and beyond Asia.”
Jonathan Seal helped found SignTime. Jonathan is a serial entrepreneur who has founded companies in e-commerce, cloud services and digital signatures and is currently a managing partner at Xenon Ventures. He also holds several patents related to digital signatures. Jonathan is also a serial learner, having completed an MBA, law degree and helicopter license. His book, ‘The San Francisco Fallacy – The Ten Mistakes That Make Founders Fail’ was translated into Japanese. Siegel commented, “SignTime’s growth in Japan is one of the most exciting business opportunities I have seen and I look forward to participating. We are driving the digital transformation (DX) of the Japanese workplace, where the possibilities seem endless.”
Yoshimasa Aikawa is currently Executive Advisor to SignTime. Early in his career, he joined Fujitsu Kyushu Systems in 1982 as a systems engineer and rose through the ranks, eventually becoming Executive Director. He then became President of Fujitsu Cloud Technologies in April 2017. He has extensive cloud experience both from his time at Fujitsu and during the founding of Aitcz. Yoshimasa provides ICT consulting services to a variety of companies. “I look forward to working with SignTime and driving the transition from a paper-centric office environment to a truly digital office environment. SignTime’s product is not only fast and effective, it is also a secure way of processing contracts and other legal documents.”
Patrick McKenzie (@patio11) is a Japan Angel investor, developer and entrepreneur.
“I have invested in SignTime for further support Japan’s digital transformation. Take it from a former employee: Too many smart people have wasted too much time grappling with outdated processes. We should free them so they can use their talents for bigger problems.”
Paul Oswald has worked in software development for over 20 years. For the past 12 years he has been the CTO and co-founder of MakeLeaps, a successful Japanese FinTech startup. MakeLeaps offers online quoting and invoicing services for the Japanese market. “For the past 12 years at MakeLeaps, I have witnessed Japan adopt online products to replace paper products.
SignTime based in Tokyois a leader in digital contracting and electronic signatures for documents of all kinds. Highly secure, legally compliant, user-friendly and scalable for companies of all sizes, SignTime makes it easy to break away from paper-based contracts and signatures for good.
Since its inception in 2020, SignTime has grown rapidly, serving customers in the Japanese home market as well as the United States Asia Pacific region and for multinational customers.
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