airSlate Secures $50 Million from Silicon Valley Bank
No-code innovation leader sees growing momentum in the business process automation, e-signature and document management markets
BOSTON, MA. (February 17, 2021) — airSlate, a leader in no-code business automation solutions, today announced it has received $50 million in debt financing from Silicon Valley Bank for a total of $130 million in capital raised to date. The financing builds on the company’s growing momentum in the business process automation, e-signature and document management markets, with an equity financing round from Morgan Stanley Expansion Capital and General Catalyst in recent weeks.
"airSlate’s no-code business automation platform is creating valuable workflow solutions for small and mid-sized businesses across verticals,» said Nicole Hawkey, a Vice President on Silicon Valley Bank’s technology banking team. "We are excited to support breakout companies like airSlate through their next phase of growth."
"In this increasingly remote-work first environment, we are seeing accelerating demand for solutions that empower businesses to design and implement beautiful, personalized, secure, and digitally-executable customer and employee experiences," said Borya Shakhnovich, CEO, airSlate. "We are thrilled to partner with Silicon Valley Bank to help in fueling our continued product innovation, building out our team, and expanding our global footprint. We believe that airSlate is well positioned to become a global leader in the business process automation, e-signature and document management markets."
airSlate’s solutions enable non-technical users to digitally transform their front and back-office business processes, including employee and customer onboarding, sales and ordering workflows, and contracts and payments. Users and teams can collaborate at any time, from any device, on any cloud, supported by industry-leading security and compliance standards to keep all important data safe and secure. More than 600,000 customers worldwide and 25 million users have realized significant improvements in the delivery and effectiveness of their departments with airSlate’s solutions.
"Every company is a software company now, first and foremost," said Shakhnovich. "airSlate gives that power to any business, no matter how big or small. We are excited to continue to help our customers succeed in this ever-changing, challenging environment."
airSlate is a global SaaS technology company that serves tens of millions of users worldwide with its no-code business process automation and document management solutions. The company’s PDF editing, e-signature workflow, and business process automation solutions empower users to digitally transform their businesses to run faster and easier. airSlate, pdfFiller, signNow, and USLegal make up the company’s portfolio of award-winning products.
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.