This morning Creatio, a Boston-based software company, announced that it has raised $68 million. Volition Capital, a growth-equity fund, led the round. The deal was a minority investment in the startup.
The deal is notable not merely thanks to its sheer size, but because up until today Creatio had bootstrapped. That’s according to founder and CEO Katherine Kostereva, with whom TechCrunch caught up with last week regarding the investment.
Per Kostereva, her company’s low-code platform helps other companies automate business processes. Creatio’s competitive edge, she said, comes in part from how quickly it can help companies automate; the faster that companies can get from a low-code platform to live apps matters.
Creatio also has a genre-focus, namely that it touts its platform’s ability to help automate work in the CRM space — think marketing and sales-related tasks. But its crowning “jewel,” Kostereva said, is Creatio’s underlying low-code automation platform.
The low-code world that Creatio competes in is a broad space that is seeing active investment from the very-early to the very-late stage. For example, last month TechCrunch covered no-code focused Stacker’s $1.7 million round. And earlier this month TechCrunch wrote about low-code focused OutSystems’ $150 million raise at a $9.5 billion valuation.
To see another low-code company raise a big check was therefore not too surprising.
TechCrunch was curious where the company and its founder came down on the concept of low-code versus (Read more...)