Wednesday, July 24, 2024
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Creatio, a low-code software platform specializing in customer relationship management (CRM), announced on Wednesday that it has successfully raised $200 million in a new funding round. This achievement elevates Creatio to “unicorn” status with a valuation of $1.2 billion. The funding round was led by Sapphire Ventures, with participation from StepStone Group, and existing investors Volition Capital and Horizon Capital.

Founded in 2014, Creatio has grown to employ 700 people across seven global offices, including locations in Poland and Ukraine. The platform caters primarily to middle to large-size enterprises, counting prominent clients such as Coca-Cola and MetLife among its users. Despite its significant growth trajectory, Creatio has not yet achieved profitability.

The latest funding round comes on the heels of several years of robust financial performance, with Creatio reporting a consistent annual revenue growth rate of 50%. Previously, the company operated on bootstrapped funding before raising $68 million in 2021.

Katherine Kostereva, Creatio’s founder and CEO, emphasized that the company has achieved cash flow break-even and operates with high capital efficiency. She highlighted Creatio’s low-code automation platform, which empowers businesses to automate workflows dynamically.

“We’re very pleased to welcome our partner investors on board, while maintaining control over our strategic direction as a founding team,” Kostereva commented.

Looking ahead, Creatio plans to deploy the newly raised capital to accelerate product development efforts. This includes leveraging generative artificial intelligence (AI) to enhance automation capabilities in marketing and sales processes.

Rajeev Dham, managing director at Sapphire Ventures, noted Creatio’s distinctive position within the low-code and no-code startup landscape. Unlike general-purpose platforms, Creatio focuses on specific business processes with a flexible architecture, targeting a substantial market segment.

“While the funding environment for low-code and no-code startups has tempered since 2021, Creatio’s strategic focus and strong market presence make it a standout player,” Dham remarked.

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