While funding for low-code and no-code startups has decreased from a few years ago, it is evident that it has not entirely dried up.
After closing a $200 million funding round headed by Sapphire Ventures and including StepStone Group, Volition Capital, and Horizon Capital, among other current investors, Creatio became a unicorn.
The startup’s new funding, which is a minority investment, values it at $1.2 billion. The company plans to use the funds to expand internationally while maintaining a 50% annual revenue growth rate.
In a release, CEO Katherine Kostereva stated, “With this investment, we will continue to disrupt the traditional enterprise software approach, helping our clients to accelerate time-to-value and use technology as a competitive differentiation in their business.” The Boston-based startup creates enterprise workflows and customer relationship management systems using a no-code platform.
Given its competition in the market, which includes massive tech giants like Salesforce, Oracle, and SAP, Creatio will need to keep innovating.
In 2021–2022, the no-code and low-code space saw significant growth thanks to large nine-figure funding rounds raised by startups like Builder.ai and Genesis Global. Although the industry seems to be slowing down, the current explosion in generative AI appears to be revitalizing it.
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