Creatio raises $68 million to fuel growth of low-code platform
Creatio, a global software company that provides a low-code platform for process management and CRM, has announced a $68 million capital raise led by Volition Capital, a U.S.-based growth equity firm investing in high growth companies, with participation from Horizon Capital, a private equity firm investing in Europe. The funding is a minority investment to fuel the company’s growth, with Creatio’s strategy, leadership team, product vision and commitment to customer success remaining unchanged.
Since its founding, Creatio has achieved rapid organic growth without previous external capital. Today, the company is delivering exceptional financial results with a team of 600 people worldwide. This investment comes on the heels of rapid exponential company growth. Despite the COVID-19 pandemic, its net retention rate in 2020 was the highest in the company’s history. Creatio will use the funds to build aggressively on this momentum and will invest in R&D, global marketing and sales expansion, and support its vast network of partners in 110 countries worldwide.
“Our vision is a world where everyone can automate business ideas in minutes,” said Katherine Kostereva, CEO and co-founder of Creatio. “Now is a critical time for digital and IT leaders to leverage tech and transform their organizations into low-code companies. This investment will allow us to keep building toward the vision of creating the new world, where any company can automate and change their business processes at speed and scale.”
The emerging global low-code development platform market is predicted to reach $187 billion by 2030, according to Research and Markets, and holds potential for organizations to digitize key business processes and reinvent how they engage with customers, partners, and employees. Creatio says it is is well-positioned to continue category dominance, and plans to use the funds to boost the development of the market for low-code process management and CRM solutions.
Creatio enables mid-size to large enterprises to automate customer-facing and operational processes at speed and scale. The company focuses on 24 verticals, including financial services, manufacturing, professional services and others. Its dedication to bringing value to customers and helping organizations achieve business objectives has earned Creatio a reputation of a partner that consistently exceeds expectations.
According to Creatio, partnerships are central to its vision and play a key role in the company’s strategy. Its go-to-market approach focuses on serving customers directly through offices around the globe and through a channel network with 700-plus partners in 110 countries.
More information can be found at www.creatio.com.