Creatio, the no-code CRM and workflow automation platform, on Wednesday introduced that it has raised a $200 million funding spherical led by Sapphire Ventures. StepStone Group and present traders Volition Capital and Horizon Capital additionally participated on this spherical.
“The problem we’re solving is addressing the need of knowledge workers,” Creatio co-founder and CEO Katherine Kostereva informed me. “And we’re talking about 1.7 billion people in the world [who we want to help] automate their workflows with the power of no-code.”
Because the demand for software program continues to extend, she famous, the variety of builders isn’t protecting tempo. Clearly, Creatio isn’t the one firm making an attempt to fill this void, and there’s no dearth of no-code instruments accessible to companies as we speak. However Kostereva argues that what units Creatio aside is that it was at all times architected to work at an enterprise scale.
“What we deliver to our clients is all front office: sales, customer relationship marketing, service management processes,” she stated. Which means the corporate competes with the likes of Oracle, Salesforce, Microsoft and SAP, however Kosterova says that being smaller permits Creatio to be extra agile than its bigger opponents.
And, in fact, as a result of that is 2024, Creatio, too, is using the AI wave with a copilot for its CRM customers and no-code creators. “Right now, what we’re hearing from people more and more is that cloud technology built back in the beginning of the 2000s, like Salesforce, is considered more like legacy tech. Everyone is looking for new technology, cutting-edge technology — and this is exactly what Creatio delivers with our AI, no-code architectures.”
The AI options embody capabilities like serving to gross sales groups rating alternatives or generate emails, in addition to serving to the corporate’s no-code creators design workflows and convert text-based necessities into enterprise guidelines, amongst numerous different use instances.
Kostereva careworn that machine learning-based instruments have lengthy been a part of Creatio’s toolset, however generative AI has allowed the corporate to take this a step additional.
She famous that the corporate is at the moment rising 50% year-over-year, and provided that Creatio was a bootstrapped firm for the longest time, it’s in its DNA to be capital environment friendly. However the crew is now seeing a chance to double down and increase rapidly. Which means constructing out its AI capabilities and core no-code options, but additionally its companion ecosystem, which already drives half the enterprise.
“We are thrilled to partner with CEO Katherine Kostereva and the entire Creatio team,” stated Rajeev Dham, managing director at Sapphire Ventures. “Creatio’s true AI-powered no-code platform — built on a unique, composable architecture — offers exceptional flexibility and usability that empowers enterprise customers to swiftly build, deploy and personalize applications for a variety of use cases across CRM, case management, and workflow automation. The power and agility of the platform combined with the team’s relentless dedication have allowed them to deliver remarkable ROI and time to value for their customers.”
