AirSlate Raises $40M in Fresh Funding
This article is about airslate-40m-80mwiggersventurebeat Today we have good news for AirSlate. The company has raised $40M. This is a record for a software startup. This funding will help the company continue to grow and create products that will benefit users. It also allows the company to focus on other aspects of its business, such as customer support.
AirSlate raises $40M
AirSlate, a company that automates back-office business processes, has raised $40 million in fresh funding. The round was led by Morgan Stanley Expansion Capital. The money will help the company continue its growth internationally and hire sales and marketing teams. The company is also planning to expand its product line.
The company has raised a total of $80 million to date. It currently has over 20 million active users and expects its annual recurring revenue to top $100 million. It is the second public funding round for the Boston-based company. It has previously raised $80M and closed a $40M series A round in July. Currently, airSlate has 825 employees.
AirSlate sells its no-code automation platform to help non-technical users transform business processes. The company has raised $80 million to date and plans to use the money to double its sales by 2021. The company will focus on expanding product functionality, building its sales organization, and expanding its footprint internationally. The company has attracted investors such as Morgan Stanley Expansion Capital, General Catalyst, and HighSage Ventures, who recognize airSlate’s ability to expand its market reach and increase revenue.
AirSlate’s multi-cloud platform makes it possible to automate entire backend processes. It combines robotic and document process automation to streamline the entire process for businesses. It also enables companies to conduct surveys, e-sign documents, and automate invoicing. The company says it has saved customers 25% or more in global ground travel costs. LXL Capital believes the startup is worth about $225 million to $300 million.
The new funding rounds come as a result of the company’s rapid growth. The company has become a leading SaaS technology company, providing document management, workflow, and e-signature workflow solutions to tens of millions of users. The company’s patented solutions empower non-technical users and help them digitize their businesses. Some of its customers include the Government of Australia and Eversource.
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