Unqork and Celigo secure combined $100m funding to bolster enterprise integration software
While the enterprise mobility and enterprise software markets are today somewhat saturated, venture capital money can still be sourced for particularly innovative startups. Two such companies, Celigo and Unqork, have announced funding rounds this week.
Celigo, based out of San Mateo, California, has raised $20 million (£16.4m) in a series B funding round. The company aims to provide integration platform as a service (iPaaS), whereby applications can be quickly connected to help automate business processes, leaving behind data silos and errors associated with manual entry.
While iPaaS is not exactly a new kid on the block, Celigo argues that a faster, more comprehensive solution is needed to accommodate the continued proliferation of enterprise apps. The company tailors its solution to various industry verticals, from retail to manufacturing, as well as different job roles and software suite ecosystems, from Amazon to Salesforce.
The company’s funding round was led by NewSpring Capital, with contributions from Blossom Street Ventures and current investor TVC Capital.
“Forward-thinking companies that have invested in best-of-breed SaaS are looking for a better way to automate business processes as they mature,” said Jan Arendtsz, Celigo CEO in a statement. “There is demand everywhere for business process automation. Our hypergrowth is showing that our vision is coming to fruition.”
Unqork, meanwhile, secured $80 million (£65.5m) in another series B round earlier this month. The New York-based firm is focused more on the no-code enterprise app platform space. While again this is an area which is hardly new, Unqork looks to differentiate by virtue of its pay-as-you-go model, meaning organisations get charged only for apps live in development.
The company’s leading customers include Goldman Sachs, Liberty Mutual, and John Hancock; a particularly interesting aspect as Unqork’s series A funding round, secured only six months ago, was led by Goldman Sachs Principal Strategic Investments (PSI).
This time round, the funding was led by CapitalG, the growth equity investment fund of Alphabet. “By building on our proven financial services and insurance successes, the additional funding will allow us to help deliver more of the best enterprise no-code technology and enable fully functional application development for top companies all over the world,” said Unqork CEO Gary Hoberman.
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