Creatio, a low-code software platform for customer relationship management, has successfully raised $200 million in a recent fundraising round, resulting in a valuation of $1.2 billion. This places Creatio in direct competition with the industry leader, Salesforce.
The company intends to employ the new capital to expedite its product development, leveraging generative artificial intelligence (AI) to hasten the automation of marketing and sales-related processes.
Sapphire Ventures led the fundraising round following Creatio’s consistent yearly sales growth of 50% over several years.
Read also – Bright Machines Secures $106 Mn from Nvidia, others
StepStone Group, together with current investors Volition Capital and Horizon Capital, also took part in the investment round.
In the past, Creatio secured finance of $68 million in 2021, following a period of self-sufficiency known as “bootstrapping”, where the company sustained itself without seeking external financial support. The company is currently experiencing a lack of profitability.
Creatio has a workforce of 700 individuals spread over seven international offices, which include locations in Poland and Ukraine. It caters to medium to large-sized organizations, such as AMD, Coca Cola, and MetLife.
Katherine Kostereva, founder and CEO, Creatio, said: “Creatio’s underlying low-code automation platform provides this freedom to automate your workflows on the fly,”
About Creatio
Founded in 2014 by Katherine Kostereva, Creatio is a global vendor of a no-code platform to automate workflows and CRM with a maximum degree of freedom.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
