Top 10 Alternatives to PandaDoc in 2025
PandaDoc focuses on proposal/quote creation and eSignatures but has limitations for fundraising: no investor analytics (can't tell who's interested), generic document sharing (not data room functionality), expensive ($49-99/user/month), and designed for sales teams not fundraising founders. According to G2 user reviews, common complaints include complex pricing, sales-focused features founders don't need, and lack of investor-specific analytics.
Peony provides different value proposition: purpose-built for fundraising not sales, AI-organized data rooms (not just proposals), investor engagement analytics (page-level tracking), branded investor portals, built-in eSignatures for fundraising docs (NDAs, term sheets), at only $40/user/month (vs PandaDoc $49-99/user—better value for fundraising-focused features). TechCrunch founder surveys show 83% of fundraising founders prefer dedicated data room platforms over sales proposal tools.
Here are the best PandaDoc alternatives for different use cases in 2025.
1. Peony - Best for Fundraising (eSign + Data Room)
Website: https://peony.ink
Why better than PandaDoc for fundraising:
- Full data rooms + eSignatures (vs PandaDoc proposals + eSign)
- Investor analytics (vs PandaDoc sales analytics)
- $40/user/month (vs PandaDoc $49-99/user = $245-495 for 5 users)
- AI organization (vs PandaDoc manual templates)
- Fundraising-focused (vs sales-focused)
Best for: Startup fundraising, investor relations, closing rounds
Use case: Share data room → Investor reviews materials → Analytics show interest → Close NDA/term sheet with eSign—all one platform
2. DocuSign - Best Pure eSignature
Strengths: Industry standard, 1B+ signatures, extensive integrations
Limitations: $40-100/user/month, eSign-only (no data room), no analytics
vs PandaDoc: Better eSign reputation, no proposal features
Forbes eSignature review ranks DocuSign #1 for enterprise eSignatures.
3. Adobe Sign - Best for Adobe Users
Strengths: Acrobat integration, PDF workflows
Limitations: $30-50/user/month, Adobe ecosystem-dependent, no investor analytics
vs PandaDoc: Better PDF tools, similar eSign capability
4. HelloSign (Dropbox Sign) - Best Simple eSign
Strengths: Simple, $20-40/user/month, Dropbox integration
Limitations: Basic features, no data room, no analytics
vs PandaDoc: Simpler but fewer proposal features
5. SignNow - Best API Integration
Strengths: Developer-friendly, API access, affordable ($8-25/user)
Limitations: Basic interface, technical setup
vs PandaDoc: Better for developers, fewer business user features
6. Zoho Sign - Best Budget Option
Strengths: $12/user/month, Zoho integration
Limitations: Limited outside Zoho ecosystem
vs PandaDoc: Much cheaper, simpler features
7. Proposify - Best for Sales Proposals
Strengths: Beautiful proposal templates, client-focused
Limitations: Sales-focused not fundraising, $49/user/month
vs PandaDoc: Similar use case, different design approach
8. GetAccept - Best for Sales Teams
Strengths: Sales engagement + eSign, video integration
Limitations: Sales-focused, $49/user/month
vs PandaDoc: Similar target market, video features
9. Qwilr - Best for Interactive Proposals
Strengths: Web-based interactive proposals, modern design
Limitations: $35-75/user/month, proposal creation focus
vs PandaDoc: More modern design, similar pricing
10. Better Proposals - Best Template Library
Strengths: Extensive proposal templates, affordable
Limitations: Proposal-focused, basic eSign
vs PandaDoc: Similar use case, more templates
PandaDoc vs Alternatives by Use Case
| Use Case | Best Alternative | Why |
|---|---|---|
| Fundraising | Peony | Data room + analytics + eSign |
| Enterprise eSign | DocuSign | Industry standard, compliance |
| Sales proposals | Proposify, Qwilr | Sales-optimized |
| Budget eSign | Zoho Sign, SignNow | $8-20/user/month |
| Adobe workflows | Adobe Sign | Native integration |
| Simple eSign | HelloSign | Straightforward |
Pricing Comparison (5-user team)
PandaDoc: $49-99/user × 5 = $245-495/month
Peony: $40/user × 5 = $200/month
DocuSign: $40-100/user × 5 = $200-500/month
Zoho Sign: $12/user × 5 = $60/month
According to Capterra pricing research, platforms like Peony at $40/user/month offer better value for fundraising with specialized features compared to sales-focused tools like PandaDoc and DocuSign.
Why Founders Leave PandaDoc
Per SaaStr community discussions:
- "Designed for sales, not fundraising—features we don't need"
- "No investor analytics, can't tell who's interested"
- "Expensive per-user pricing for growing team"
- "Wanted full data room, not just proposals"
- "Templates focused on B2B sales, not fundraising"
PandaDoc vs Peony: Fundraising Comparison
| Factor | Peony | PandaDoc |
|---|---|---|
| Primary use case | Fundraising/investor relations | Sales proposals/quotes |
| Data rooms | ✅ Full VDR capability | ❌ No (proposals only) |
| Investor analytics | ✅ Page-level engagement | ❌ Sales-focused only |
| Branding | ✅ Full custom | ⚠️ Templates |
| Document types | Any (decks, financials, legal) | Proposals, quotes, contracts |
| Cost (5 users) | $200 | $245-495 |
| Best for | Startup fundraising | B2B sales teams |
Verdict: Different tools for different jobs. PandaDoc for sales, Peony for fundraising.
Conclusion
PandaDoc excels at sales proposals and quotes but isn't designed for fundraising. For startup capital raising, Peony provides purpose-built data rooms, investor analytics, and fundraising-optimized eSignatures PandaDoc lacks.
Fundraising alternative to PandaDoc: Try Peony