Low-code software program platform firm Creatio is hoping to develop its enterprise after asserting a $68 million capital elevate as we speak.
The spherical was led by the U.S. development fairness agency Volition Capital. Horizon Capital, a personal fairness agency, additionally participated within the spherical. Creatio mentioned it can use its new funds to spend money on analysis and improvement, international advertising and marketing and gross sales growth because it appears to be like to construct on its present momentum.
Creatio, which was previously generally known as bpm’on-line Ltd., sells instruments that embody a low-code enterprise processes administration platform that makes it doable for staff with out coding expertise to construct enterprise apps with minimal effort, utilizing a drag-and-drop consumer interface to information them. The identical UI can be utilized to create advanced enterprise processes that assist to handle interactions between colleagues, purchasers and companions.
The corporate additionally provides a buyer relationship administration platform that helps to speed up advertising and marketing, gross sales and repair supply, in addition to the Creatio Market that accommodates numerous ready-to-use functions and templates that may prolong the platform’s features in just some clicks.
Creatio’s funding announcement is well timed, since the marketplace for low-code software program improvement instruments is quickly coming into hypergrowth section, in accordance with a report from the analyst agency Gartner Inc. final week. Gartner mentioned the low-code market — pushed by “a confluence of digital disruptions, hyper-automation and the rise of composable enterprise” that was a direct consequence of the COVID-19 pandemic — will develop by 23% this 12 months, to $13.8 billion.
Creatio itself mentioned it noticed speedy exponential development in 2020 and achieved a internet retention fee that 12 months that was the very best in its historical past.
Creatio’s new backers cited this development potential as their essential purpose for getting behind the corporate. “We see Creatio’s management place being additional strengthened as corporations embrace low-code options that shut the IT supply hole and empower any group to turn out to be a low-code firm,” mentioned Roger Hurwitz, a managing accomplice at Volition Capital.
“Now could be a vital time for digital and IT leaders to leverage tech and rework their organizations into low-code corporations,” mentioned Creatio co-founder and Chief Govt Katherine Kostereva (pictured). “This funding will permit us to maintain constructing towards the imaginative and prescient of making the brand new world, the place any firm can automate and alter their enterprise processes at pace and scale.”
Kostereva appeared on theCUBE, SiliconANGLE Media’s cell livestreaming studio, in 2019 to speak extra about Creatio’s CRM platform capabilities:
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