Low-code and no-code startups do not get the funding they did a few years ago, but it clearly hasn’t completely dried up.
Creative achieved unicorn status after landing a $200 million round led by Sapphire ventureswith participation from StepStone Group and existing investors Freedom Capital AND Capital of the Horizon.
The latest money, a minority investment, values the startup at $1.2 billion and shall be used to assist the company expand globally as revenue continues to grow 50% year-over-year.
“With this investment, we will continue to revolutionize the traditional approach to enterprise software, helping our customers reduce time to value and leverage technology as a competitive differentiator in their business,” said the CEO Katherine Kostereva In release.
The Boston-based startup is the creator of a no-code platform that permits the automation of customer relationship management and enterprise workflows.
More artificial intelligence
It’s no surprise that the company has embraced artificial intelligence – creating a latest generative AI co-pilot that may help automate various marketing and sales tasks.
Creatio might want to proceed to innovate because it competes with massive tech titans like Sales force 1, Oracle AND SAP that dominate the market.
The no-code and low-code space saw significant growth in 2021-2022, as did startups Builder.ai AND Global origins raised huge nine-figure runs. While the sector appears to have slowed down, the current explosion in generative AI looks set to breathe latest life into the industry.
Founded in 2014, Creatio previously raised $68 million in 2021 in a round led by Volition Capital, on Crunchbase.