airSlate (formerly known as pdfFiller), a Boston-based publisher of business automation software, has closed a $40 million Series B round from three major US funds — General Catalyst, HighSage Ventures and Morgan Stanley Expansion Capital. The terms of the deal were not disclosed.
Touting itself as a “no-code innovation leader,” airSlate says it gives teams “the power to automate any part of [their] business using a single, no-code, easy-to-configure solution.” Its solutions are compliant with “industry-leading security and compliance standards to keep all important data safe and secure.”
The company aims to “bolster sales to over $100 million ARR in 2021,” according to a press release which does not specify the current company numbers. Boosted by this capital infusion, the company intends to extend product functionalities, develop new use cases, and seek to penetrate new markets.
“The recent investment from Morgan Stanley Expansion Capital, General Catalyst, and HighSage Ventures affirms the vision behind airSlate. The no-code revolution is only beginning and the additional funding will help power our team to innovate even more quickly, providing seamless business automation and best-in-class functionality for our customers,” said Borya Shakhnovich, airSlate’s CEO.
“Automating business processes and document management from a secure, comprehensive, and reliable cloud is what businesses are searching for to modernize their applications and support widely distributed customers, partners, and employees,” said Paul Sagan, executive-in-residence at General Catalyst and airSlate board member.
“airSlate’s unique suite ideally future-proofs how companies can and will operate digitally,” he believes.
As previously reported by Ukraine Digital News, pdfFiller was co-founded in 2007 by Ukrainian entrepreneur Shakhnovich. pdfFiller is now just one of the company’s products.
In 2019, airSlate raised a $30 million round from investment firm General Catalyst (USA) and Horizon Capital (Ukraine). The startup has raised $80 million in total so far.