Total amount raised
$181.5 Millions
Latest funding date
Location
airSlate has successfully raised significant funding over multiple rounds, with its latest being a Series B round. The company is focused on providing no-code business process automation, e-signature, and document management solutions.
Keep reading to explore the intricacies of airSlate's fundraising journey and the investors backing this innovative platform.
What Is airSlate?
airSlate, founded in 2006 by Borya Shakhnovich and Vadim Yasinovsky, is headquartered in Brookline, Massachusetts. The company operates in the Business Process Automation (BPA), Document Management, and SaaS industries, among others.
With a workforce of 501-1000 employees, airSlate offers a suite of products including airSlate, pdfFiller, signNow, and USLegal. These tools are designed to enhance productivity by automating document workflows and business processes, helping users achieve faster and more efficient operations.
How Much Funding Has airSlate Raised?
- Series A
- Amount Raised: $40M
- Date: July 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of airSlate's automation platform.
- Series B
- Amount Raised: $40M
- Date: January 2021
- Lead Investors: Morgan Stanley Expansion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and accelerate market penetration.
- Debt Financing
- Amount Raised: $50M
- Date: February 2021
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for scaling operations.
- Series B
- Amount Raised: $51.5M
- Date: June 2022
- Lead Investors: G Squared
- Valuation at Round: $1.25B
- Motivation Behind the Round: To expand automation capabilities and community, enhancing productivity from business documents and data.
Total Amount Raised: $181.5M
Current Valuation: $1.25B
Key Investors
- G Squared
- Details: G Squared is a growth-stage venture capital fund manager that invests in dynamic companies. They partner with portfolio companies throughout their life cycles as a complete capital solutions provider.
- Investment Focus Areas: Technology, digital transformation, automation
- Notable Investments: 23andMe, Lyft, Palantir
- Silicon Valley Bank
- Details: Silicon Valley Bank provides various financial services to startups and growth companies. They are known for their deep expertise in the innovation sector.
- Investment Focus Areas: Technology, life sciences, venture capital
- Notable Investments: Not publicly disclosed
- Morgan Stanley Expansion Capital
- Details: Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley. They provide capital to companies in various stages of growth.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Not publicly disclosed
- UiPath Ventures
- Details: UiPath Ventures is the venture capital arm of UiPath Inc., focusing on companies that align with their vision of a Fully Automated Enterprise™.
- Investment Focus Areas: Automation, digital transformation, enterprise software
- Notable Investments: airSlate
What's Next for airSlate?
airSlate stands at the cusp of significant growth, driven by the increasing demand for workflow automation and digital transformation. With a user base exceeding 100 million, the company is poised to expand its automation capabilities and community engagement. The strategic partnership with UiPath further amplifies its potential, offering a pathway to more comprehensive workflow solutions and a broader audience.
Future fundraising opportunities appear promising, given the recent successful funding round and high valuation. The collaboration with UiPath and the continuous innovation in no-code automation tools are likely to attract additional investments, enabling airSlate to scale efficiently and meet the growing market demand.
However, airSlate may face challenges such as intense competition in the workflow automation sector and the need to keep pace with rapid technological advancements. Ensuring seamless integration and maintaining platform stability will be crucial as the company continues to innovate and expand its offerings.
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