King

DocuSign, the Seattle electronic signatures company, today appointed former E-Trade executive Steven King as CEO. It also named Keith Krach, the founder and former CEO of Ariba, has chairman of the board. As a result of the new hires, Matthew Schiltz -- who had held the CEO reins since January 2007 -- will head up strategic business development.

“DocuSign is clearly leading the e-signature revolution with its vast service offerings, number of users and market share,” said King, who previously served as CEO of venture-backed companies Virtela and ZANTAZ. “Matt Schiltz and Tom Gonser have done an exceptional job growing the company to this pivotal stage, and I’m excited to work with this dynamic team.”

In fact, the company said that its paid transactions increased by 300 percent last year. It did not release revenue figures.

The DocuSign product is used in the financial services, travel and real estate industries, allowing organizations to accelerate the time it takes to complete a transaction and eliminating some of the waste associated with the transportation of paper documents. Its more than 20,000 customers include American Airlines, Re/Max, Prudential, LinkedIn and Expedia.

The company now says it owns 73 percent of the market, conducting a total of 53 million electronic signature events.

DocuSign has raised more than $35 million from investors that include Ignition Partners, Frazier Technology Ventures, Sigma Partners and others.