PandaDoc, the leading document automation software, today announced record growth in 2020, driven by market adoption of its workflow solutions, as well as the company’s continued global expansion. Growing its annual recurring revenue by 63 percent, PandaDoc continued acceleration as it delivered the third consecutive year of annual growth rates that surpassed the previous year. PandaDoc was able to accomplish this by continuing to help companies streamline the selling process from propose to close, while also investing to help other industries like education, healthcare, and government with document processes for compliance, legal, and employee management.
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PandaDoc increased its overall market presence by doubling down on its commitment to customers, providing them the essential tools to improve productivity and get business documents and deals signed fast. With continued customer validation, PandaDoc maintained the #1 positions within Proposal, Contract Management, and Document Generation Software categories, while quickly rising to become a leader within the eSignature space as rated by customers on G2.
In response to the changing business landscape and customer needs, PandaDoc used the launch of its Free eSign product in March 2020 as a catalyst for growth, which has proven to be a market disruptor as the industry’s first unlimited, forever-free eSigning solution.
In 2020, PandaDoc also focused on expanding its global customer footprint, which grew to a total of 122 countries worldwide. To meet growing global customer demand, PandaDoc launched new offices for enhanced customer support and continued growth, as well as product updates for international customers. PandaDoc plans to continue its push for global expansion in 2021, with penetration into key markets outside of the U.S.
“Whether our customers needed full document lifecycle capabilities or they only used our eSignature functionality, we managed to adapt to the challenges of 2020,” Mikado continued. “The demand for document automation continues to surge around the world and PandaDoc plans to grow even faster in 2021.”
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