Total amount raised
$51.5 Million
Latest funding date
6/1/2022
Location
Appsmith has successfully raised significant funding over multiple rounds, establishing itself as a notable player in the low-code application platform space. The platform is designed to help users build custom AI-powered apps and agents more efficiently.
Keep reading to explore the intricacies of Appsmith's fundraising journey and the investors backing this innovative platform.
What Is Appsmith?
Appsmith is an open-source low-code application platform that focuses on helping developers build custom AI-powered applications and agents quickly and efficiently. The platform offers features such as drag-and-drop UI components, integration with various data sources, and customization with JavaScript.
Appsmith is designed with a developer-first approach, providing full transparency and control over application development. It supports enterprise-level security and governance, making it suitable for both startups and large enterprises. The platform is maintained under the Apache 2.0 license, ensuring high transparency and low vendor risk.
How Much Funding Has Appsmith Raised?
- Seed Round
- Amount Raised: USD 2,500,000
- Date: August 2019
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of the platform.
- Series A
- Amount Raised: USD 8,000,000
- Date: October 2021
- Lead Investors: Canaan Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the platform.
- Series B
- Amount Raised: USD 41,000,000
- Date: June 2022
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To add features and extend security of the platform, supporting the demand for the open-source platform to build internal apps that are mission-critical and often deprioritized.
Total amount raised: USD 51,500,000. Current valuation: Not publicly disclosed.
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They focus on growth-stage technology, software, and internet businesses.
- Investment Focus Areas: Technology, software, internet businesses
- Notable Investments: Twitter, Shopify, DocuSign
- Accel
- Details: Accel is a venture capital firm that works with startups in seed, early, and growth-stage investments. They focus on technology companies.
- Investment Focus Areas: Technology companies
- Notable Investments: Facebook, Slack, Dropbox
- Canaan Partners
- Details: Canaan Partners is an early-stage venture capital firm. They invest in technology and healthcare startups.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: LendingClub, Match.com, Ebates
- OSS Capital
- Details: OSS Capital is a venture capital firm focused on open-source software. They invest in companies that develop open-source software.
- Investment Focus Areas: Open-source software companies
- Notable Investments: Not explicitly mentioned
- Angel Investors
- Details: Jeff Hammerbacher is the co-founder of Cloudera. Abhinav Asthana is the co-founder of Postman.
- Investment Focus Areas: Not explicitly mentioned
- Notable Investments: Not explicitly mentioned
What's Next for Appsmith?
Appsmith stands at the cusp of significant growth, driven by the increasing demand for low-code development tools. With over 10 million downloads and adoption by more than 10,000 organizations, the platform is well-positioned to capitalize on the need for efficient internal applications across various industries. The open-source nature of Appsmith allows for continuous community-driven enhancements, further solidifying its market presence.
Future fundraising opportunities appear promising as Appsmith continues to scale its platform and introduce a paid version with enhanced security features. The recent $41 million Series B funding round underscores investor confidence, suggesting that additional rounds could be on the horizon to support further expansion and feature development.
However, Appsmith may face challenges such as increasing competition in the low-code space and the need to maintain robust security and scalability. Balancing the demands of the open-source community with the development of commercial features will be crucial for sustained growth. As the platform evolves, strategic partnerships and potential acquisitions could also play a role in its future trajectory.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Appsmith and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success.
