![](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/05\/77385127.jpg?w=738\")
<\/p>\n<\/p>\n
PandaDoc<\/a>, a 6 year old startup, has always had a simple goal of eliminating the pdf from the sales collateral pipeline, while helping busy salespeople automate the proposal and contract process. Today it landed $15 million in Series B funding.<\/p>\n The round was led by Rembrandt Venture Partners, but also included participation by Microsoft Ventures, HubSpot, EBRD and Altos Ventures.<\/p>\n PandaDoc provides a set of services to automate contract and proposal creation and act as a content layer on top of your CRM tool. In recent years it has expanded from a pure proposal engine to one that offers a range of services that also includes contracts, electronic signature and even collecting the cash, company co-founder Mikita Mikado explained.<\/p>\n This puts the company squarely in the realm of what\u2019s called \u2018Quote to Cash\u2019 in industry jargon. As the name implies, that means it\u2019s the part of the sales process where you move from simple contact to making a proposal, offering a price, and ideally closing the deal and getting a signature on the proverbial dotted line.<\/p>\n You may recall (or not) that Salesforce bought SteelBrick<\/a>, a company that handles a similar set of functions, at the end of 2015 for $360 million. SteelBrick also takes\u00a0aim at SMBs, so perhaps it\u2019s not a coincidence that Salesforce competitors like Microsoft and and Hubspot, which find themselves well behind the market leader, are looking at solutions like PandaDoc (although Panda works with Salesforce as well).<\/p>\n It\u2019s worth noting that the Microsoft relationship started last year in the form of a partnership<\/a>. This year that relationship is\u00a0expanding as Microsoft Ventures has participated in the actual funding of the company.<\/p>\n Mikado says that, depending on the customer needs, it can provide this full range of services, or work with a tool like Steelbrick and take the proposal or contract data and feed it electronically into a proposal or contract template in PandaDoc. He says, the important differentiator\u00a0with his company\u2019s offering is that the entire process is digital.<\/p>\n \u201cThe documents [we generate] are electronic. They are not files. They are web applications. We can integrate with Steelbrick [or any tool], take the data and embed it into a dynamic document, send it from one party to another, enable collaboration, and enable signing and transaction of money,\u201d he explained.<\/p>\n The company is growing in leaps and bounds, and needs the additional money to help fuel its expansion. To give you sense of how fast it\u2019s growing, last year it had around 3000 active paying customers, today it has over 7000 and it\u2019s doubled its employee count in the same period from around 50 to close to 100.<\/p>\n Mikado says that up to this point, the company has relied mostly on\u00a0inbound marketing and self-service, but it\u2019s reached the point where it wants to attract larger customers and that will require building a customer support team. It also wants to begin building a direct sales team and the new money should help in that regard.<\/p>\n Featured Image: Si Huynh\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"Two](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/05\/77385127.jpg?w=680\")
PandaDoc, a 6 year old startup, has always had a simple goal of eliminating the pdf from the sales collateral pipeline, while helping busy salespeople automate the proposal and contract process. Today it landed $15 million in Series B funding. The round was led by Rembrandt Venture Partners, but also included participation by Microsoft Ventures, HubSpot, EBRD and Altos Ventures. PandaDoc… Read More<\/a><\/p>\n\n<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>
<\/img><\/a>\n<\/div>\n
<\/p>\n","protected":false},"author":5817,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[25],"tags":[59,66,26],"class_list":["post-341714","post","type-post","status-publish","format-standard","hentry","category-technology","tag-media","tag-techcrunch","tag-technology"],"_links":{"self":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/341714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/users\/5817"}],"replies":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/comments?post=341714"}],"version-history":[{"count":0,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/341714\/revisions"}],"wp:attachment":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/media?parent=341714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/categories?post=341714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/tags?post=341714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}