DocuSign, Inc. (NASDAQ:DOCU) Q1 2020 Earnings Conference Call Transcript
Jun 06, 2019 • 04:30 pm ET
But this broader scope and deeper offering could significantly increase our TAM from the $25 billion eSignature TAM.
Second highlight is the further roll out of specialized sales team focused on new customer acquisition, while others will focus on the installed base. This is something we tested with great success last year and rolled out more broadly in North America this year. We are already seeing a net increase in new logos, as well as the expansion of use cases within our existing customers.
Overall, we are confident and excited about the year ahead, and the longer term vision and opportunity for DocuSign. So today, I'd like to share some more detail on two areas. The demand we're seeing for DocuSign eSignature and the strategic opportunity that the DocuSign Agreement Cloud represents. Let's first talk about the demand.
We continue to see strong growth and leadership in our core eSignature solution across all segments and geographies. Let me share some numbers with you to give context. Our customer count continues to increase. And as of the end of Q1, we have almost 508,000 paying customers around the world. That's up from 405,000 in Q1 of fiscal year 2019.
We continue to see growth in our international markets. In markets like the UK, France, Germany, Brazil, Australia and Japan, we are just beginning to tap the potential. And no matter where our customers are based, we believe there is significant opportunity to expand the use of eSignature into other department. As has long been the case, once companies experienced the speed, time and simplicity benefit of DocuSign eSignature, they are keen to replicate those results elsewhere in the enterprise.
A great example of this is one of our global consumer packaged goods customers, that started with just a single e-signature use case in the human resources department. And just a few years later, they now have 100 use cases deployed or in development across multiple business units. We expect this pattern of use case expansion to continue driving revenue growth for the company for years to come.
Now, let's talk about the DocuSign agreement cloud, and our ability to automate and connect the entire agreement profit. In March this year, we just announced the DocuSign Agreement Cloud. Our expanding suite of more than a dozen products and over 350 integrations for digitally transforming, how organizations prepare, sign, act on and manage their agreements. The DocuSign Agreement Cloud includes our flagship eSignature product and several other DocuSign product offerings, as well as the recently acquired SpringCM offering for contract life cycle management and the hundreds of integrations to other applications involved in the agreement products, such as those from Salesforce, Microsoft, Google, Oracle and SAP. It also includes three new products that were announced after our last earnings call. So I'd like to take a moment to highlight them today.
The first is DocuSign Gen, it's designed for small to medium businesses, primarily in the Salesforce ecosystem. Gen enables sales rep and