2020 was one for the books in more ways than one. A global pandemic, a transition to remote work, and ultimately a change in life as we know it; we were all dealt quite a hand last year.
Thankfully for us as an organization, and despite all odds, PandaDoc continued to grow. We shattered our record and our annual recurring revenue soared by 63% in 2020.
We achieved this in part thanks to our amazing 23,000+ customers and ultimately because the market responded and adopted our workflow solutions in rapidly changing environments. Businesses had to figure out how to operate efficiently in the new remote world, and we’re thrilled they chose PandaDoc to help them.
In the past, we’ve primarily seen sales teams be the biggest beneficiary of PandaDoc, streamlining their selling processes from proposal to close, but last year brought some new Pandas to our tribe. Education, healthcare, and government also needed help with their respective document processes for compliance, legal, and employee management, and we were able to deliver a product they could trust.
Here are some additional 2020 accomplishments we’re proud to announce:
- We maintained our #1 positions within Proposal, Contract Management, and Document Generation Software categories on G2.
- In March 2020, we launched our free eSign product, which became the industry’s first unlimited and forever-free eSigning solution.
- And PandaDoc is now loved by customers in over 122 countries around the world.
Even with the significant and unprecedented headwinds, I’m so incredibly proud that our team delivered on the opportunities above. Even when we increased our 2020 projections midyear, our team worked tirelessly to not only meet but far exceed those adjusted projections, thus resulting in our accelerated growth. Very few companies are able to increase their growth year over year once they hit a certain size, and thanks to our customers, employees, and partners, we are one of them.
Though it’s only January, I can tell the demand for document automation will continue to surge around the world and we plan to rise to the occasion and grow even faster this year. I can’t wait to see what our amazing pack of Pandas accomplishes in 2021.