A San Francisco technology company with a majority of its employees in St. Petersburg said it is now worth over $1 billion, thanks to its latest investment.
PandaDoc announced Wednesday it raised a Series C round for an undisclosed amount, led by Canada-based OMERS Growth Equity and San Francisco-bases G Squared. The round also had participation from Altos Ventures, Rembrandt Venture Partners, One Peak Partners, and M12, which is Microsoft’s venture capital fund.
The company specializes in e-signatures, allowing documents to be created and shared online and signed. The company will use the latest funding to expand into new verticals, including education. Company leaders are also hopeful to expand further globally and increase access for developers to integrate PandaDoc with other software.
The news comes after the company raised $30 million in its Series B round in mid-2020, a follow-on to $15 million raised in 2017 for the same round.
“It’s something we’ve been striving for, for a long time as an organization,” Nate Gilmore, PandaDoc’s chief revenue officer, said in an interview with the Tampa Bay Business Journal. “We’re a VC-backed company, so we want to raise money for better valuations, to be able to invest going forward, and ultimately it’s building a great product and taking it to market.”