PandaDoc, a developer of integrated software for doc processing automation, raised $30m from a consortium of international investors. The investor group included One Peak Partners, Microsoft, the European Bank of Reconstruction and Development, and a few others, Firrma.ru reported.

Set up by Mikita Mikado and Sergey Borisyuk, Belarusian expats, PandaDoc is now a portfolio company of a Russian VC fund called TMT Investments.

The service is a market leader in the fast-growing field of software solutions for business proposals, contracts, and e-signatures. Back in March, PandaDoc launched its inaugural free product for e-signatures, a move that has helped the company enter this specific global market segment which experts estimate is currently worth more than $25bn.