PandaDoc, the e-document startup, now valued at $1B as it closes a big Series C

Business tools have gone completely virtual in#nbsp;the last 20 months due to#nbsp;the COVID-19 pandemic, and today a#nbsp;startup whose e-document platform has played a#nbsp;big role in#nbsp;supporting that shift is#nbsp;announcing a#nbsp;big round of#nbsp;funding on#nbsp;the heels of#nbsp;huge growth. PandaDoc, which lets users create, share and sign official documents online, has closed a#nbsp;Series C#nbsp;that the company confirms values it#nbsp;at $#nbsp;1 billion.

To#nbsp;be#nbsp;clear, PandaDoc is#nbsp;not making public the full amount of#nbsp;funding in#nbsp;this round. The company is#nbsp;based out of#nbsp;San Francisco, but it#nbsp;has extensive operations in#nbsp;Belarus, where it#nbsp;has been in#nbsp;hot political water#nbsp;— several employees were arrested by#nbsp;authorities over a#nbsp;year ago there after publicly protesting the current regime. The lack of#nbsp;disclosure on#nbsp;the size of#nbsp;this round is#nbsp;intentional and related to#nbsp;this. From what we#nbsp;understand, that situation is#nbsp;still ongoing.

OMERS Growth Equity and G#nbsp;Squared are co-leading this Series C, and Altos Ventures, Rembrandt Venture Partners, One Peak Partners and Microsoft’s venture arm M12 are also participating.

Prior to#nbsp;this, PandaDoc had raised around $#nbsp;36 million and its valuation was around $#nbsp;255 million, according to#nbsp;data from PitchBook. The big hike in#nbsp;valuation with this round can also be#nbsp;seen as#nbsp;a#nbsp;marker of#nbsp;the size of#nbsp;the Series C.

Today PandaDoc#nbsp;— which competes with the likes of#nbsp;DocuSign, Eversign, DocSend, GetAccept and others#nbsp;— already provides a#nbsp;range of#nbsp;services to#nbsp;users across many different verticals. Content ranges from building and collecting e-signatures and payments around contracts, proposals and forms through to#nbsp;invoices; and PandaDoc’s users are also pretty varied, including construction, education, medical and professional services businesses#nbsp;— some 30,000 customers in#nbsp;all. The plan will be#nbsp;to#nbsp;double down on#nbsp;growing more of#nbsp;that current business as#nbsp;well as#nbsp;bring more functionality and use cases into the fold.

Published by Techcrunch#nbsp;— on#nbsp;September 22, 2021