# PandaDoc funding: rounds and investors > PandaDoc has raised $27M across 5 rounds since 2013. Investors include Kima Ventures, Altos Ventures and 645 Ventures. Every round with its source. Source: https://millionrounds.com/company/pandadoc (Millionrounds; every figure on the page links to its filing or article) United States · [Series B startup](https://millionrounds.com/companies) # Who invested in *PandaDoc* 5 rounds we have observed, with the 9 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. AI Fintech Generative AI Robotics Raised 10 months ago Valuation: $1.0B, Mar 2026 Funding summary Updated 26 Oct 2026 **$27M** raised across 5 rounds since 2013, from 5 sources **$655K** Seed **$400K** Seed **$5.0M** Series A **$15M** Series B **$5.9M** Round - **Latest round:** Round, $5.9M Dec 2025 - **Led by:** 645 Ventures - **Biggest round:** $15M Series B · May 2017 - **Investors:** 9 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2013 2015 2017 2019 2021 2023 2025 **$655K** Seed **$400K** Seed **$5.0M** Series A **$15M** Series B **$5.9M** Round - **First round:** Seed, $655K - **Biggest round:** $15M - **Usual gap between rounds:** 23 months ## The rounds - **Dec 2025** Round **$5.9M** *2 new* *2 returning* [645 Ventures](https://millionrounds.com/fund/645-ventures) Lead [Kima Ventures](https://millionrounds.com/fund/kima-ventures) [Altos Ventures](https://millionrounds.com/fund/altos-ventures) [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) Reported by TechStartups - **May 2017** Series B **$15M** *4 new* [European Bank for Reconstruction and Development](https://millionrounds.com/fund/ebrd) [HubSpot Ventures](https://millionrounds.com/fund/hubspot-ventures) [Altos](https://millionrounds.com/fund/altos) Rembrandt Venture Partners/ Microsoft Reported by FinSMEs - **Jul 2015** Series A **$5.0M** *2 new* [Altos Ventures](https://millionrounds.com/fund/altos-ventures) [TMT Investments](https://millionrounds.com/fund/tmt-investments) From a historical funding record - **Jul 2014** Seed **$400K** No investor was named in the report. From a historical funding record - **Mar 2013** Seed **$655K** *1 new* [Kima Ventures](https://millionrounds.com/fund/kima-ventures) From a historical funding record ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Seed** 2013 **Seed** 2014 **Series A** 2015 **Series B** 2017 **Round** 2025 [Kima Ventures](https://millionrounds.com/fund/kima-ventures) [Altos Ventures](https://millionrounds.com/fund/altos-ventures) [645 Ventures](https://millionrounds.com/fund/645-ventures) L [European Bank for Reconstruction and Development](https://millionrounds.com/fund/ebrd) [TMT Investments](https://millionrounds.com/fund/tmt-investments) [HubSpot Ventures](https://millionrounds.com/fund/hubspot-ventures) [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) [Altos](https://millionrounds.com/fund/altos) Rembrandt Venture Partners/ Microsoft ## Everyone who backed them [Kima Ventures](https://millionrounds.com/fund/kima-ventures) VC firm **2** rounds [Altos Ventures](https://millionrounds.com/fund/altos-ventures) VC firm **2** rounds [645 Ventures](https://millionrounds.com/fund/645-ventures) VC firm **1** round, led 1 [European Bank for Reconstruction and Development](https://millionrounds.com/fund/ebrd) Private equity **1** round [TMT Investments](https://millionrounds.com/fund/tmt-investments) VC firm **1** round [HubSpot Ventures](https://millionrounds.com/fund/hubspot-ventures) Corporate VC **1** round [Indico Capital Partners](https://millionrounds.com/fund/indico-capital-partners) Accelerator **1** round [Altos](https://millionrounds.com/fund/altos) Growth equity **1** round Rembrandt Venture Partners/ Microsoft no record of our own yet **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=pandadoc). ## Also claim to have backed them These 8 firms list PandaDoc as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Rembrandt Venture Partners](https://millionrounds.com/fund/rembrandt-venture-partners) VC firm Per its own site [AltaIR Capital](https://millionrounds.com/fund/altair-capital) VC firm Per its own site [Savano Capital Partners](https://millionrounds.com/fund/savano-capital-partners) VC firm Per its own site [Conduit](https://millionrounds.com/fund/conduit) Accelerator Per its own site [Global Alternative Investment Management](https://millionrounds.com/fund/global-alternative-investment-management) VC firm Per its own site [IMAGURU Startup Hub](https://millionrounds.com/fund/imaguru-startup-hub) Accelerator Per its own site [NovaVia](https://millionrounds.com/fund/novavia) Investment firm Per its own site [bratte.com](https://millionrounds.com/fund/bratte-com) Venture studio Per its own site ## Quick answers about PandaDoc ### Who invested in PandaDoc? PandaDoc's investors include Kima Ventures, Altos Ventures, 645 Ventures, European Bank for Reconstruction and Development and TMT Investments, and 4 more on record. 645 Ventures led its latest round. ### How much has PandaDoc raised? PandaDoc has raised $27M across 5 rounds since 2013. ### When did PandaDoc last raise? PandaDoc's most recent round, $5.9M, was in Dec 2025, led by 645 Ventures. ### What was PandaDoc's biggest round? PandaDoc's largest round on record is $15M (Series B), in May 2017. ### Who backed PandaDoc first? PandaDoc's first round on record, in Mar 2013, was backed by Kima Ventures. ### What stage is PandaDoc at? PandaDoc's latest named round is a Series B, in May 2017. ### Where is PandaDoc based? PandaDoc is based in the United States. ### Who led PandaDoc's rounds? 645 Ventures led the funding round in 2025. ## Companies like PandaDoc In the same sector, and raised in the last eighteen months. [**SpaceX** $42B · Oct 2026](https://millionrounds.com/company/spacex)[**xPay** $1.5M · Oct 2026](https://millionrounds.com/company/xpay)[**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**Albert Invent** $20M · Oct 2026](https://millionrounds.com/company/albert-invent)[**FORT Robotics** $39M · Oct 2026](https://millionrounds.com/company/fort-robotics)[**Pika** $216M · Oct 2026](https://millionrounds.com/company/pika) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app