DocuSign has acquired Austin-based startup Liveoak Technologies for $38 million, the company said in a statement on Tuesday.
The acquisition builds on the companies’ existing partnership, where DocuSign eSignature is integrated with Liveoak’s secure agreement-collaboration platform. Liveoak uses web-based videoconferencing, collaboration features, and identity verification to help complete an auditable transaction remotely, said DocuSign in a statement.
DocuSign says it plans to leverage Liveoak’s technology to DocuSign Notary, a new product in the Agreement Cloud suite that focuses on remote online notarization (RON)—where audio-visual technology is used to complete a notarial act when the signers and the notary public are in different places.
DocuSign will continue to offer Liveoak’s platform for remotely completing other “assisted agreements”—such as account openings or virtual inspections—that require in-person facilitation and an audit trail, says DocuSign.