US-based digital transaction management software provider PandaDoc has raised $15m in a series B round featuring software provider Microsoft and sales and marketing software producer HubSpot.
Rembrandt Venture Partners led the round, which included the multilateral European Bank for Reconstruction and Development, which invested through its EBRD Venture Capital Investment initiative, and Altos Ventures, while Microsoft participated through its Microsoft Ventures unit.
PandaDoc supplues electronic document management software to help companies produce, track, edit and execute contracts and other business documents. It will put the series B funding towards expanding its customer base.
The company has raised $20m in total, having previously received $5m in series A funding from investors including Altos Ventures, TMT Investments, Kima Ventures and Eric Dunn, CEO of personal finance management app Quicken.