Gary Hoberman, founder and CEO, Unqork. Photo credit: Womensphere Community, licensed under Creative Commons

Unqork, a low-code platform for enterprises, has announced that it’s raised $207 million in Series C funding that raises its valuation to $2 billion. The new funding came from a group of new and existing investors including the likes of BlackRock, Goldman Sachs, Alphabet’s CapitalG, Hewlett Packard Enterprise, Schonfeld Strategic Advisors, and World Innovation Lab (WiL). It brings the total amount of equity financing raised by Unqork since its inception now to $365 million.

Unqork is a low-code majorly visual app development platform used by enterprises to build custom software faster and easier. The company’s typical customers are firms from industries like financial services, healthcare, insurance, and the likes where software development isn’t really cored to their operations. The idea behind Unqork is helping such firms develop simpler applications without having to resort to writing complex code as is required in the building of rather complex applications. Currently, Unqork has racked up a sizeable customer list including the likes of the City of New York, The District of Columbia, and investment bank Goldman Sachs, which itself participated in the company’s new round.

Over the past year, Unqork’s business has strongly expanded, with the company having boosted its headcount from 165 to a current 350+. The company touts that its annual recurring revenue (ARR) has grown at a triple-digit rate for the third year in a row, driven by new customer acquisition across the globe. In this year, Unqork formally expanded into the EMEA market with the opening of an office in London. The company says it’ll use its new capital to further bolster its business by among other efforts growing its global salesforce, expanding its training and marketing partnerships, and accelerating product development.

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print