Ukraine’s AirSlate raises $51.5M at $1B valuation

AirSlate (formerly PDFfiller), a Ukrainian workflow automation service, has raised a new funding round that allowed it to become unicorn, a startup with a valuation of over $1 billion.

  • The size of the round is $51.5 million. Previously, the company had already raised two rounds of $30 million and $40 million.
  • The investors are G Squared and UiPath’s new investment fund, UiPath Ventures.
  • As a result of the investments received, AirSlate got a unicorn status, which means its valuation exceeded $1 billion. It is one of the few Ukrainian startups with such a high valuation.
  • Among AirSlate’s previous investors is the leading private equity firm Horizon Capital, which successfully invested about $10 million (AIN.UA’s estimate) in the company back in 2019. For a local investment firm, the deal is a success. As one market participant shared with AIN.Capital, Horizon Capital multiplied its investment by at least five times. And this is not the end — the company continues to grow.

AirSlate is a SaaS technology, which provides a no-code document workflow automation platform for teams. It combines e-signing, contract negotiation, document generation, no-code robotic process automation, and web forms into a single business automation platform. It helps to configure and automate any business process and integrate it into multiple systems of record without writing a single line of code.

The startup is the third Ukrainian unicorn. The two others are GitLab and Grammarly, with the latter valued at over $13 billion.