A San Francisco company with a major St. Petersburg presence has received $30 million in its latest funding round.
PandaDoc, which employs roughly 70 people in St. Pete according to a company spokeswoman, received the funding as an extension to its Series B round. The round was led by One Peak with participation from Microsoft's Venture Fund, Savano Capital Partners, Rembrandt Venture Partners and EBRD Venture Capital Investment Programme. Former RingCentral COO David Sipes also participated as an investor and will join the company's board of directors.
The company specializes in e-signatures, allowing documents to be created and shared online and signed. This is the second extension for the Series B — the series initially raised $15 million in 2017, shortly then opening its St. Pete office. The company then added a $5 million extension in 2019.
“We have been impressed by PandaDoc's strong growth trajectory, great product and positive customer feedback,” Humbert de Liedekerke, managing partner at One Peak, said in a statement. “The team at PandaDoc built a highly differentiated, all-in-one document automation software solution and the market is reacting well."
When PandaDoc initially opened its St. Petersburg office, it was dubbed its "eastern headquarters." The San Francisco main headquarters has roughly 10 employees and the company as a whole employs 340 people worldwide.
This is the latest for several funding wins in the last few weeks in the Tampa Bay region. Last week, virtual reality health tech company Immertec announced a $6 million raise. In July, on-demand startup Homee raised $4.5 million and Tampa IT company Telepathy raised $6 million. Tampa Bay startups as a whole raised more than $30 million in Q2.
