Low-code and no-code startups are not seeing the funding they did a couple of years ago, but it clearly has not dried up completely.
achieved unicorn status after landing a $200 million round led by , with participation from and current investors and .
The new cash, a minority investment, values the startup at $1.2 billion and will be used to help the company expand globally as it continues to grow revenue 50% year to year.
鈥淲ith 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,鈥� said CEO in a .
The Boston-based startup is a developer of a no-code platform to automate customer relationship management and enterprise workflows.
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Not surprisingly, the company has an AI angle 鈥� creating a new generative AI copilot to help automate different marketing and sales tasks.
Creatio will need to continue to innovate as it competes with huge tech titans such as 1, and which dominate the market.
The no-code and low-code space saw solid growth in 2021-22 as startups like and raised huge nine-figure rounds. While the sector appears to have slowed down, the current generative AI explosion seems to be breathing new life into the industry.
Founded in 2014, Creatio previously raised $68 million in 2021 in a round led by Volition Capital, .
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