PandaDoc raises $5M

What does PandaDoc do?

PandaDoc, is an all in one software for creating delivering and managing your team’s proposals, quotes, contracts and other sales related things.  It makes documents assembly simple and saves plenty of time. Its templates and preset content blocks lets reps to construct picture perfect documents in no time.

This startup helps automate quotes creation, proposals and contracts, as sales people are bust in interacting with the clients, not taking care of the administrative work. This startup deals with every aspect from creating documents to analytics to electronic signature, so it competes with a range of companies.

How much PandaDoc was funded?

PandaDoc has raised  $5M in  Series A round on July 8, 2015 from Altos Ventures (Lead) and TMT Investments

Previous funding

$655k in Seed round on March 1, 2013 from the investors Kima Ventures

$400k in Seed round on July 14, 2014

What is next for PandaDoc?

PandaDoc plans to use the latest funding raised for expanding its own sales and marketing department. It has been mostly working using inbound marketing and many of its customers are small businesses. The company’s goal is to attract more enterprise customers for which is needs a dedicated sales team.

The company claims that the initial response to the product has been good and it has built a millions dollars in annual recurring revenue in the initial 6 months of operation. It also claims that 68% of documents created in the systems were built and sent back by the consumers with a signature in just a day of creating the documents.

More about PandaDoc

PandaDoc was found on June 1^st, 2013 by Serge Barysiuk and Mikita Mikado. It has its headquarters in South San Francisco, CA. The company is all about making business life easy, but it is also about people.