Templafy raises $25M Series C led by Insight partners to deal with enterprise documents
Back in 2018 Templafy - which had come up with a way for enterprises to more easily make templates out of standard documents (yes, it's a thing) - raised an additional $15 million from existing investors as an extension of its earlier Series B round taking it to $40.2 million raised. The company integrates with enterprise infrastructure to provide corporate content assets, document templates, and automatic validation of created documents for all kinds of clients. On this journey it has used its cash to acquire SlideProof in Berlin, then Veodin and iWRITER in 2019, and opened an office in NYC.
It's been quite a journey since they started in 2014, and today the journey continues with the news that it's closed a $25 million Series C funding round led by Insight partners. With additional funding from Dawn Capital, Seed Capital and Damgaard Company, bringing the total external capital raised to almost $70 million.
Templafy plans to use this latest round to boost its M&A activity; advance its product roadmap; and double staff from 200 to 400 full-time employees.
Jesper Theill Eriksen, CEO of Templafy said in a statement: "We set out to establish a new market category and create a high return on investment for companies streamlining their document creation workflow through our platform."
He says the COVID-19 pandemic's effect on remote working means "now more than ever, we see the need of global enterprises to support their distributed workforce with solutions that ensure productivity and compliance when documents are created."
Jonathan Rosenbaum, vice president at Insight Partners said: "Templafy's software represents a unique nexus of both end-user productivity and document compliance. This is what allows its customers to see real efficiency gains across an entire employee base."
Templafy says it has more than doubled its revenue in the past year and has now sold over 2 million Templafy licenses worldwide
The total addressable market for Templafy's document assembly software, in theory, extends to anyone that has to use traditional desktop software. The company's Microsoft integration, means there are north of 1 billion Microsoft Office users for which Templafy could be used.
Christian Lund, co-founder and CPO at Templafy explained over email to TechCrunch that: "Being a horizontal document production infrastructure, Templafy is agnostic to the type of business document created (presentations, reports, contracts, proposals, pitches, emails, internal / external etc.) This is a key reason why many of the world's largest enterprises use the platform company-wide."
Templafy has plenty of competition across all the vertical categories it covers - for example in Template Management (Litera); Creative Content (Frontify, Bynder), Sales Enablement (Showpad, Seismic), Proposal management (Conga, PandaDoc), Email Signature Management (Exclaimer, Xink).
But Templify takes a horizontal approach rather than vertical approach.