The San Francisco-based company, which makes all-in-one document software, plans to use the funds from its Series D to add more features to its platform and expand the ecosystem of developers building on its products. (The Logic)

Talking point: The new round comes just a year after Coda raised US$80 million in a Series C round, which the company used to double its headcount. “We weren’t looking to raise another round so soon, but given the pace of our expansion, we were approached by a number of investors who encouraged us to scale even faster,” the company said in a statement on its website. Coda’s valuation in the Series D also rose to US$1.4 billion, more than double its valuation in the previous round. Teachers’ investment follows its other recent backing of tech companies, including Kitchener, Ont.-based edtech company ApplyBoard—which, like Coda, has also seen a surge in business due to the pandemic.