A former DocuSign CEO just raised $47 million as his startup gets closer to a $100 million milestone
- Conga, a document automation platform designed for the Salesforce ecosystem, announced $47 million in funding on Thursday.
- Conga is led by Matt Schiltz, former CEO of DocuSign, which is now valued at $6.7 billion on the public markets.
- Schiltz, who has run Conga since 2015, grew company revenue by 100% in his first full year, and expects to pass $100 million in revenue in 2018.
Matt Schiltz knows how to deal with documents. The veteran tech exec spent four years as CEO of DocuSign, building it from a struggling startup to a leader in the electronic signature business.
In his 2.5 years as CEO of Conga, a document and contract automation platform, Schiltz has continued to work his magic. The company achieved 100% growth from 2016 to 2017 and more than $50 million in annual revenue, he told Business Insider. Schiltz said he expects to surpass a $100 million in revenue this year.
On Thursday, Conga announced its latest achievement. The company raised $47 million Insight Venture Partners and Salesforce Ventures, both existing investors. Including this round, Conga has raised $117 million.
Founded in 2006, Conga sells a suite of products which make it easier to generate digital contracts and documents, store those files, and automatically update them when necessary. Unlike DocuSign, which works with a variety of business software, Conga is built directly and exclusively for the Salesforce ecosystem.
It's used by large enterprises like Qualcomm, Sony, and Hilton Worldwide, among some 8,500 other customers.
Schiltz said that funding will go toward hiring engineers and sales people at its Broomfield, Colorado headquarters.
"In one word, it's growth," Schiltz said. "We're one of the fastest growing cloud companies in the US. We're investing in people and infrastructure."
More acquisitions are also on the table for Conga, which completed three deals already this year. The company built out its a suite of products through acquisitions of Octiv, Orchestrate and Counselytic - all in the course of a single month earlier this spring.