180707 Cloud Document Systems

WHITESPACES IN CLOUD DOCUMENTATION

JULY 2018

Documentation Secure File Sharing (54)

Document Scanning, Market Cloud Storage Services (58) Storage (61) Landscape

Project Management (51) Digital Signing, Strong Map of 776 global companies in Authentication (31) cloud documentation market landscape. Labeled and colored by focus areas. Engineering and § Digital documentation for Real Construction (38) Contract Management (48) Estate industry was the single largest topic (8.0%), followed by Document Scanning and Storage Real Estate (62) services (7.9%) and Supply Chain Invoices (7.6%). Law Firms (34) Application Development (30)

§ Services for Law Firms and Communication Solutions (40) Application Development companies located centrally in the Supply Chain, Invoices (59) network while Clinical Print Services (32) Documentation, Print Services were in the fringe of the network. Business Intelligence (51) Hybrid Cloud Services (50) Cloud SureClinical Inc.

Documentation docTrackr, Inc. Market Landscape Jibidee

eSignLive Inc. Adobe presence withing map of 776 global companies in cloud Kleii, Inc. documentation market landscape. eSign Services § Presence indicated by Parent DocuSign, Inc. company, investor, or business Doculus, Inc. description partner.

Adobe Systems Software Ireland Limited

Ergo Ltd Company comparison Network comparison of Microsoft, Google and Docusign

Microsoft Google Docusign

• 56 company affiliations • 29 company affiliations • 3 company affiliations • Associated with Office, Azure, Sharepoint • Associated with Google drive, docs and apps • 2 acquisitions, 1 parent conpany • Diversified across network • Concentrated in Cloud Storage Services cluster • Concentrated in Digital Signing, Strong Authentication cluster TOP 10 Investors SAMPLE OF INVESTED COMPANIES

Intel Capital DocuSign, Determine, CollabNet, Inc.

Y Combinator Dropbox, PlanGrid, drchrono Inc.

500 Startups PlanGrid, UpGuard, drchrono

Accel Partners Dropbox, DocuSign, Netskope

Draper Fisher Jurvetson Determine, iYogi Technical Services, SugarSync

Salesforce Venture Dropbox, DocuSign, nCino

Sapphire Ventures DocuSign, Netskope, iYogi Technical Services

Emergence Capital Partners Hightail, SteelBrick Holdings, EchoSign

Google Ventures DocuSign, Rocket Lawyer Incorporated, PlanGrid

Goldman Sachs AvePoint, Fiberlink Communications, Mavenlink

● Real Estate ● Cloud Storage Services ● Business Intelligence ● Clinical Documentation ● Compliance, Quality Management ● Digital Signing, Strong Authentication

● Document Scanning & Storage ● Secure File Sharing ● Hybrid Cloud Services ● Engineering and Construction ● Law Firms ● Application Development

● Supply Chain, Invoices ● Contract Management ● Project Management ● Communication Solutions ● Print Services TOP 10 Acquirers SAMPLE OF ACQUIRED COMPANIES

Kyocera Corporation DataBank IMX, Imaging Solutions, Wittco-Oregon, Inc.

Alphabet Divide, Quickoffice

Open Text Corporation Hightail, Found Software, GXS Limited

Oracle Aconex, Textura Corporation, Latista Technolog

Salesforce Quip, Inc., SteelBrick Holdings

ARC Document Solutions BPI Reprographics, ERS Digital

Adobe Systems EchoSign, Adobe Systems Software Ireland Limited

DocuSign Algorithm Research, Cartavi

FUJIFILM Fuji Xerox

IDOX CTSpace Ltd

● Real Estate ● Cloud Storage Services ● Business Intelligence ● Clinical Documentation ● Compliance, Quality Management ● Digital Signing, Strong Authentication

● Document Scanning & Storage ● Secure File Sharing ● Hybrid Cloud Services ● Engineering and Construction ● Law Firms ● Application Development

● Supply Chain, Invoices ● Contract Management ● Project Management ● Communication Solutions ● Print Services ● Real Estate Investments Document Scanning & ● Storage Over Time ● Supply Chain, Invoices NUMBER OF INVESTMENT ● Cloud Storage Services ● Secure File Sharing

● Contract Management

Timeline of number of ● Business Intelligence investment and investment Hybrid Cloud Services amount around cloud 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 ● documentation. ● Project Management § Dropbox, NantHealth, NantHealth: ● Clinical Documentation Docusign were the leading $320M DocuSign: Engineering and companies in terms of ● Construction $300M investment amounts in last Dropbox: Communication Solutions 10 years. $350M ● Compliance, Quality § Investment in the field INVESTMENT ● Management peaked in 2014~2015 both Netskope AMOUNT : $100M ● Law Firms in terms of number and amount. ● Print Services

Digital Signing, Strong ● Authentication

● Application Development 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 ● Real Estate Acquisitions Document Scanning & ● Storage Over Time ● Supply Chain, Invoices NUMBER OF ACQUISITION ● Cloud Storage Services ● Secure File Sharing

● Contract Management

Timeline of number of ● Business Intelligence acquisitions and acquisition Hybrid Cloud Services amount around cloud 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 ● documentation. ● Project Management AirWatch: Advanced Computer § Excluding HP Enterprise $1.5B Software Group: $1.2B ● Clinical Documentation Services, there have been Engineering and 1-2 deals every year that ● Construction were above 1 billion Active dollars. Network: ● Communication Solutions $1.1B Compliance, Quality § In terms of number of ACQUISITION ● Management acquisitions, year 2014 and AMOUNT* Aconex ● Law Firms 2015 was the peak as well. Limited: $100M (Consistent with ● Print Services

investment trends) Digital Signing, Strong ● Authentication

● Application Development 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

*Excluded Enterprise Services, LLC, which has been acquired by HP at $17 billion in 2008, for a better time trend view. Market Evolution Over Time Change of market landscape based on founding years of the companies.

Clinical Secure File Documentation Cloud Storage Sharing Document Services Scanning & Storage Project Management

Contract Management

Real Estate Engineering & Construction

Supply Chain, Invoices Print Services Business Intelligence 2000 2010 2018

• Document Scanning (13%), Print Services (12%), • 246 companies have been founded between 2000 • After 2010, companies focused on Real Estate and Supply Chain, Invoices(11%) were the largest and 2010. Companies focused on Project services (12%) and Contract Management clusters within the companies founded before Management, Secure File Sharing, Cloud Storage (10%) have been founded the most. 2000. Services and Clinical Documentation have increased • Top M&A in this time include Salesforce’s • Companies in this map include older the most. acquisition of Quip, Inc. in 2016, who conglomerates such as Fuji Xerox and Crimson UK • Notable companies founded between 2000 and develops a word processor that enables users to who later adopted software services, as well as 2010 include Dropbox, DocuSign, Enterprise Services create documents in various platforms. cloud services early market enterers. LLC, and NantHealth. Clinical Between Clinical Documentation and Compliance, Quality Documentation (41) Management: Compliance, • Caresyntax Inc.: Develops surgical analytics, technology, and services DETAIL Quality platform for hospitals and ambulatory surgical centers. Also deploys Management (36) HIPAA-compliant software as an on-premise, cloud-based platform. • Complion Inc.: Develops web based document and workflow management platform for clinical research sites and their sponsors. Secure File Provides secure and compliant management of documents and admin Sharing (54) tasks.

Digital Signing, Strong Authentication (31) Between Digital Signing, Strong Authentication and Secure File Sharing: • Fabasoft AG: Products include Fabasoft Folio, software for secure recording, management, and storage of digital documents; Fabasoft Cloud, a service to share digital Whitespace content across organizations. • Zuppudy, LLC: Secured online file storage, sharing and Opportunities collaboration platform with electronic signature, OCR, backup & restore, and data archival feature. Contract Management (48)

Quid network map reflects the Between Print Services and Hybrid Cloud Services: gaps within the existing • Facsimile Communications/ Atlantic Business markets. These gaps, also called Hybrid Cloud Services (50) Products: Offers IT managed solutions, managed whitespace, direct to where the print, IT consulting. Also provides Atlantic Cloud. innovation opportunities are. • Unistar-Sparco Computers/ Sparco.com: Provides Sample companies that are various IT solutions, including network already bridging within the infrastructure, cloud computing, and print space have been pointed out. management. Print Services (32) Cluster Clinical Maturity Documentation (Companies founded after 2010)

Scatterplot of focus area maturities. Sized by number of companies in each focus area, Mature & Highly Invested New & Highly Invested colored by focus areas.

§ Fields that have been Mature & Less Invested New & Less Invested pointed as whitespaces were Compliance, mostly founded very Quality recently, median founding Management Engineering and Construction year being 2012 ~2013. Real Estate § Only one Print Services Contract company was able to Management filtered into the chart, Cloud Storage meaning the rest of Printed Application Services Development Business Services companies were Intelligence Digital Signing, built before 2010. It Print Services Secure File Sharing Strong Authentication Document Scanning Hybrid explains the white gap Communication Cloud between Printed Services & Storage Solutions Service and Cloud Services clusters. HEATMAP FOR FOCUS AREAS IN CLOUD DOCUMENTATION INDUSTRY

Less opportunity More opportunity

Founding Year Inv. Rcvd. Count Inv. Rcvd. Amt. Inv. Rcvd. Amt. Inv. CAGR (2014 - Clusters Num. Companies Exit Event Count Exit Event Amt. (sum) Median (sum) (sum) (median) 2017)

Real Estate 62 2010 98 $446.6M $2.8M 21% 18 $538.0M

Document Scanning & Storage 61 1999 36 $125.1M $2.7M N/A 26 $210.8M

Supply Chain, Invoices 59 2000 50 $217.9M $1.3M 239% 20 $1.5B

Cloud Storage Services 58 2010 86 $303.1M $1.3M 22% 13 $416.2M

Secure File Sharing 54 2008 75 $1.6B $14.6M -100% 18 $2.9B

Business Intelligence 51 1998 13 $72.1M $5.5M -7.2% 24 $17.5B

Project Management 51 2009 66 $427.6M $2.8M -66.1% 8 $2.4B

Hybrid Cloud Services 50 2002 26 $207.6M $7.8M -100% 25 $1.5B

Contract Management 48 2011 92 $874.8M $4.9M 10.9% 13 $1.1B

Clinical Documentation 41 2009 68 $1.1B $4.8M -51.7% 12 $866.9M

Communication Solutions 40 2010 37 $258.6M $2.2M 215.5% 12 $1.8B

Engineering and Construction 38 2002 52 $649.4M $7.3M -41.9% 19 $2.6B

Compliance, Quality Management 36 2004 51 $500.3M $5.3M -13.4% 15 $169.2M

Law Firms 34 2010 26 $114.1M $965.0K -100% 6 $47.4M

Print Services 32 1983 2 $0 N/A N/A 9 $0

Digital Signing, Strong Authentication 31 2003 49 $140.0M $4.2M 5.3% 12 $1.1B

Application Development 30 2010 43 $246.7M $22.2M -100% 13 $169.7M Loan, Lending, Fintech (4.0%) Wealth Cloud Management (1.3%) Construction Documentation Digital Mortgage (3.3%) Documentation (1.4%)

Public Government Sector (4.1%) Real Estate (2.6%) Narratives Land Registry (2.4%)

Content Management (1.5%) Email Management (2.1%) Map of 6512 news articles about E-Petition (1.1%) cloud documentation and e-signing for the last one year (July 2017 ~ Contract Lifecycle Management Clinical Trials, Life Sciences (1.4%) July 2018). Labeled and colored by (1.1%) Clinical Data (2.7%) topics. Printing, Scanning (2.8%) § Cloud Documentation in Data Security, GDPR (5.2%) Android/iOS application, Flexible Working, and Data Adobe and Microsoft Partnership Security were the 3 largest topics Adobe Acrobat/ Sign/ Scan (1.8%) in public narrative. Flexible/ Remote Working, Work Life Balance (6.8%) § Media narratives reflected similar topic clusters as company Android/ iOS (8.0%) SAP Cloud landscape. Platform (2.0%) Cloud Web Services (3.8%) Emergency Indian Preparation Government School Tools Unique Topics Program with High Social Media Android/ IOS Digital Mortgage Traction Loan, Lending, Fintech Flexible Adobe Acrobat Real Estate Working, Sign & Scan Work Life Balance Scatter plot of Data Security uniqueness within the Adobe and topic and social traction Microsoft Partnership of each cluster. Sized by Land Registry number of articles in Student Wealth each cluster, colored by Financial Aid Management SocialEngagement clusters.

§ Clusters that are Car Dealership

unique yet are getting Average high social media traction are worth E-Mandate, Mutual Fund taking a notice since it Clinical Trials, could be the next Life Sciences innovation trend. Printer (Konica Minolta, Xerox) IMM e-Sign

More Unique Less Unique Average Betweenness Centrality Microsoft reportedly buys GitHub code-sharing service Social and Media Traction Plan ahead to avoid tax refund delays Away from the headlines, Modi is fighting a crucial war against inefficient bureaucracy

How to make your Hurricane Irma Scatter plot of social and insurance claim go smoothly as possible DigiLocker app will soon have media traction of articles. How to deliver digital convenience emission and insurance certificates Articles limited to those to your customers received more than 1,000 social engagements. A paperless office saves more than Colored by topics. you think

Engagement Apple now relies on Google Cloud Platform and Amazon S3 for iCloud data

Flexible/ Remote Social Car Dealers Are Using ● Working, Work Life Electronic Loan Contracts To Balance ● Loan, Lending, Scam Buyers Into Horrible Fintech Situations IPO, Funding ● 9 Months, 3.5K Contracts: How LegalTech Startup School Tools How Microsoft Edge will beat ● SpotDraft Is Using AI To Bring In The Tech In Legal Android/ IOS Chrome as the best PDF reader ● with the Fall Creators Update ● Adobe Acrobat/ Disrupting The Workplace, With Technology Blockchain, Sign/ Scan ● Cryptocurrency Content Twitch co-founder Justin Kan unveils ● Management How To Get A Loan Through An Online Loan Cloud Web Services Marketplace? tech platforms for law firms (AWS, Google Cloud, ● Government A new era in the evolution of remote working Microsoft Azure) ● Sector Digital Mortgage ● ● Real Estate Emergency Preparation ● ● SignEasy Indian Government Number of Published ● Program - Aadhaar ● Tax Return Top 15 Primarily Mentioned Companies doing Partnerships

Partnerships between Adobe and Microsoft dominated the media narratives. Startups that are streamlining in specific verticals (legal, accounting, renting etc) were actively partnering as well, while larger tech firms such as Xerox were focused on launching new apps. CLOUD DOCUMENTATION PARTNERSHIPS

Adobe-Microsoft expands partnerships to bring PDF services on Office 365; Extends cloud Adobe partnership in China

Microsoft AssureSign brings eSignature to Microsoft Dynamic

Seal Software collaborates with DocuSign on adding new capabilities of managing Docusign agreement and analyzing content

Alfresco Thomas H. Lee partners to acquire Alfresco Software

Citrix Systems and Google expanded their existing partnership to better integrate Citrix Systems document collaboration and endpoint products

DocMagic and MortgageHippo partnership digital lending and e-signing Docmagic ● Adobe and Microsoft Partership ● Regional Market Forecast Parchment partners with GlobalSign to provide academic institutions with ability to Adobe Experience Cloud eDOCSignature Globalsign ● ● electronically secure documents via cloud

Adobe Acrobat/ Sign/ Scan Adobe Life Sciences ● ● Compliance Xerox launches an app that securely scanning documents and sending them to cloud or Xerox email for channel partner productivity ● Digital Transaction Management ● Litera, Google Cloud Dotloop Dotloop enters rental space, partnering with Intellirent to streamline leasing application ● Docusign Stock ● Adobe e-Sign India process

Cloud Web Services (AWS, Edoc Innovations ● Google Cloud, Microsoft Azure) ● Android/ IOS FLEX CU Tech and eDoc join forces to provide fully digital experience

Content Management Aspose Imanage ● ● Templafy partners with iManage to create cloud-based package for enterprise – scale content management and document creation for legal sectors ● Digital Mortgage ● Docusign/Ingram Micro Osoft Labs OsoftLabs announced a strategic partnership with Nour Global to accelerate cloud ● Accounting ● Flexible/ Remote Working, transformations Seal Software Work Life Balance ● Email Management ● GetBusy Seal Software partners with DocuSign

The Neat Company ● Printer (Konica Minolta, Xerox) ● Printing, Scanning The Neat Company releases multi-account access and partner portal to support accounting and bookkeeping firms ● Real Estate ContributeCloud Sesame Software partners with ContributeCloud for Salesforce document archiving This image cannot currently be displayed. This image cannot currently be displayed. QUID IN THE Walmart teams up with Quid to Quid named a Technology 2017 CNBC Disruptor 50 produce a new report, NEWS Pioneer by WEF 'The American Family Today.' CNBC put Quid on a list of the 50 most Quid and Walmart dove deep into data The World Economic Forum recognized disruptive startups in the world and to explain why American families are Quid for its contributions to the future named them “the ultimate changing. Fortune recaps a few key of the Internet. trendspotter”. insights from their findings.

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NPR reporter Laura Sydell pitted Quid Bloomberg and Quid combed through Fast Company turned to Quid to against two political journalists to 50,000 companies to find 50. They also help build their Most Innovative predict what will cause trouble for looked back at our 2009 list, which Companies list. presidential candidates this fall. would have skyrocketed as a venture portfolio. CNBC put Quid on a list of the 50 most disruptive startups in the world and named them … “the ultimate trendspotter”. Quid is software that reads millions of documents and offers immediate insight by organizing that POWERED content visually. We power human intuition with BY machine intelligence, enabling organizations to make decisions that matter.

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