Thursday, February 25, 2021
Home Tech Creatio raises $68 million for low-code enterprise process automation

Creatio raises $68 million for low-code enterprise process automation

Creatio, a low-code process automation and buyer relationship administration (CRM) platform, has raised $68 million in a spherical of funding led by progress fairness agency Volition Capital.

The increase, Creatio’s first exterior funding in its eight-year historical past, comes throughout a boon interval for low-code and no-code platforms, spanning every thing from enterprise app constructing and advertising and marketing analytics to internet growth, sport manufacturing, and process automation. The world low-code growth market is pegged at roughly $10 billion at the moment, a determine that’s projected to rise to $187 billion inside a decade as companies battle to rent and retain prime technical expertise. Low-code platforms promise to assist companies enhance lots of their inner growth and operational processes by enabling much less technically-able employees to lean on automated instruments equivalent to Creatio.

Founded in 2013, Boston-based Creatio was initially often called BPM’Online earlier than a rebrand in 2019. The firm provides a low-code studio that allows companies to automate any of their inner processes in minutes by a drag-and-drop rules-based interface. For instance, the myriad steps concerned in a repetitive worker onboarding process, equivalent to sending back-and-forth emails and importing paperwork, might be totally automated with Creatio.

Above: Creatio: Studio interface

Creatio additionally provides enterprises integrations with exterior instruments equivalent to Excel, Microsoft Exchange, and Google, whereas the Creatio market opens up a big selection of connections to social networks, messaging companies, and productiveness instruments, in addition to out-the-box process templates. Elsewhere, Creatio provides an open API for companies to develop their very own customized integrations with third-party apps.

Creatio’s increase follows a flurry of exercise within the process automation house, a motion that has been accelerated by the pandemic, which has required companies to optimize operations. Germany-based no-code process automation startup Next Matter introduced a $4 million seed funding earlier this month to develop within the U.S. This got here shortly after Boston-based Indico locked down $22 million in funding. And within the intently associated robotic process automation (RPA) sphere, UiPath this month secured a $750 million funding at a $2 billion valuation.

Elsewhere, Microsoft just lately introduced a brand new process advisor device that identifies processes for automation and builds on the platform’s current RPA toolset.

That Creatio has grown organically with none exterior funding is a powerful feat, significantly because it claims 600 workers globally and has amassed a roster of shoppers that embody BNP Paribas, Hershey’s, and DB Schenker. With $68 million within the financial institution, the corporate mentioned it intends to “build aggressively” on this momentum, with plans to spend money on its R&D, advertising and marketing, and gross sales.

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