Low-code process automation platform Creatio raises $68mn
Founded in 2013, Boston, Massachusetts-based Creatio offers a low-code platform for process and customer relationship management.
The low-code revolution
According to one study carried out by ResearchAndMarkets.com, the low-code development platform market is expected to be worth $187bn by 2030, having had revenues of $10.3bn in 2019. We’ve recently seen a proliferation of low- and no-code solutions that increase the accessibility of things such as data analytics, or in this case process management, to those without coding skills.
Creatio’s offering allows for the automation of processes both in the back end and those that are customer-facing, with customers in areas including financial services and manufacturing. The company partners with a range of integrators including Tata Consultancy Services, Amdocs and Virtusa.
“Our vision is a world where everyone can automate business ideas in minutes,” said Katherine Kostereva, CEO and co-founder of Creatio. “Now is a critical time for digital and IT leaders to leverage tech and transform their organizations into low-code companies. This investment will allow us to keep building toward the vision of creating the new world, where any company can automate and change their business processes at speed and scale.”
$68mn in backing
The company yesterday announced a $68mn funding round led by Volition Capital alongside Horizon Capital. Creatio said it would use the funds to invest in research and development, alongside expanding globally.
“The market category of low-code platforms for process management and CRM has outstanding growth potential,” said Sean Cantwell, Managing Partner at Volition Capital. “Creatio’s offering, extensive partner base and commitment to customer success has enabled impressive organic growth and market traction. We see Creatio’s leadership position being further strengthened as companies embrace low-code solutions that close the IT delivery gap and empower any organization to become a low-code company,” said Roger Hurwitz, Managing Partner at Volition Capital.
