The Series C helps PandaDoc reach a $1B valuation. Here are the top-line bullets you need to know.
PandaDoc, an e-signature startup, has raised an undisclosed amount in Series C. The round drew participation from Altos Ventures, M12, and One Peak Partners, among others.
How’s the company performing?
- San Francisco-based PandaDoc’s digital transactions management solution helps users generate e-signatures and collect payments for contracts, quotes, forms, and invoices.
- The company has around 30K customers — including Autodesk, Tata Steel, SGS, Bonusly, and Tomtom — across nearly 130 countries.
- Over the past year, PandaDoc’s user base grew by 80%, and its revenue increased by 63%.
- The platform integrates with tools like Salesforce, Hubspot, Pipedrive, Stripe, and Zapier.
Why does the market matter?
- The global document management systems market is projected to grow at a CAGR of 10.11% to reach a value of $9.4B by 2027, according to Verified Market Research.
- Increasing adoption of cloud-based document management, the push to digitize amid Covid-19, and the focus on enhanced efficiency for reduced costs have contributed to industry growth.