Last week TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced the completion of a $400,000 investment in US startup Quote Roller Inc.
Headquartered in South San Franciso, Quote Roller Inc. was founded by two Bielorussian-born enterpreneurs, Mikita Mikado and Serge Barisyuk. The startup is behind two business productivity SaaS products: Quote Roller and PandaDoc. Both products help improve efficiency and productivity of business development and sales teams across various industries.
Quote Roller automates the assembly and delivery of business proposal quotes, providing a host of interactive features such as allowing feedback from potential clients, integration of interactive content, pricing and content modules, time spent perusing each section of the proposal and tracking facilities.
PandaDoc automates the electronic delivery and execution of any contract-related documents in virtually any format. In addition to increased efficiencies, PandaDoc offers analytical features including not only knowing exactly when a document is opened, commented on or signed, but also how long the counterparty spent considering each section. Both products are integrated and will soon be merged under the PandaDoc name.
According to IDC data cited by TMT Investments, the $18 billion CRM market has a compound annual growth rate of 12%, with cloud-based services being the norm. Gartner estimates that the share of the CRM market will grow from the current 35% to 50% of the total SaaS market by 2016.
The electronic signature software market alone exceeded $359 million in 2013. The document management market amounts to more than $50 billion, according to a Gartner estimate cited by TMT.
TMT, which is traded on the AIM market of the London Stock Exchange, has raised $28 million since its inception in 2010. Its portfolio includes more than 30 startups from the USA, Russia and other countries.
The fund’s latest investment, last month, went to Weaved. This Californian startup is developing software and services that allow a variety of devices to be securely connected via the web.
