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.
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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