Total amount raised
$238.2 Million
Latest funding date
2/1/2020
Location
Unqork has successfully raised significant funding through five rounds, with the most recent being a Series C round led by BlackRock. The platform is designed to eliminate tech debt and accelerate modernization through its AI-first enterprise application development capabilities.
Keep reading to explore the intricacies of Unqork's fundraising journey and the investors backing this innovative platform.
What Is Unqork?
Unqork is a no-code enterprise application platform that helps companies build, deploy, and manage complex applications. Founded in New York, New York, the company operates in various sectors including enterprise applications, financial services, FinTech, productivity tools, SaaS, and software.
With a workforce of 251-500 employees, Unqork is dedicated to eliminating technical debt and accelerating modernization through AI-powered solutions. The platform is trusted by top enterprises and is used across regulated industries such as financial services, insurance, healthcare, and government.
How Much Funding Has Unqork Raised?
- Seed Round
- Amount Raised: USD 5,169,951
- Date: March 2018
- Lead Investors: Summerfield Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial development and launch of Unqork's no-code platform.
- Series A
- Amount Raised: USD 22,000,000
- Date: April 2019
- Lead Investors: Goldman Sachs Growth Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Series B
- Amount Raised: USD 80,000,000
- Date: October 2019
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand sales and marketing efforts, and to invest in the engineering team.
- Series B Extension
- Amount Raised: USD 51,000,000
- Date: February 2020
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further build out Unqork's application platform and support partnerships with major firms.
- Series C
- Amount Raised: USD 207,000,000
- Date: October 2020
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate company growth and community engagement through events.
Total Amount Raised: USD 365,169,951. Current Valuation: Not publicly disclosed.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation known for managing large-scale funds and accounts. It participated as a lead investor in Unqork's Series C funding round.
- Investment Focus Areas: Technology, financial services, healthcare.
- Notable Investments: Apple, Microsoft, Alphabet.
- CapitalG
- Details: CapitalG is the growth equity investment fund of Alphabet, Google's parent company. It led Unqork's Series B funding round.
- Investment Focus Areas: Growth-stage technology companies, financial services, healthcare.
- Notable Investments: Airbnb, Stripe, Lyft.
- Goldman Sachs Growth Equity
- Details: Goldman Sachs Growth Equity is a leading global investment banking, securities, and investment management firm. It led Unqork's Series A funding round.
- Investment Focus Areas: Technology, financial services, healthcare.
- Notable Investments: Uber, Spotify, WeWork.
- Summerfield Capital Management
- Details: Summerfield Capital Management is a private investment firm. It was a lead investor in Unqork's seed funding round.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Aquiline Technology Growth
- Details: Aquiline Technology Growth is a venture capital firm that invests in early and growth-stage technology companies. It participated in Unqork's Series B funding round.
- Investment Focus Areas: Technology, financial services, insurance.
- Notable Investments: Virtus Partners, RIA in a Box, ClearCourse.
What's Next for Unqork?
Unqork stands at the cusp of significant growth opportunities, driven by the increasing demand for no-code platforms in enterprise IT. The company plans to expand its sales and marketing teams, invest in engineering, and roll out partnerships with major firms. This expansion is bolstered by the growing market for no-code solutions, which is expected to reach $27.23 billion by 2022.
Future fundraising opportunities appear promising, given the strong investor interest and the company's rapid growth. Unqork's successful Series B round, led by CapitalG, and the involvement of high-profile investors like Goldman Sachs, indicate potential for additional funding rounds to support further expansion and innovation.
However, Unqork may face challenges such as competition from established players like Microsoft and Salesforce, and the need to maintain high-quality standards while scaling operations. Navigating these challenges will be crucial for Unqork as it continues to grow and solidify its position in the market.
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