Despite a slowdown in funding for low-code and no-code startups, Creatio's success demonstrates the ongoing potential in the sector. The company is also leveraging AI to create a generative AI copilot for automating various marketing and sales tasks. This innovation is crucial as Creatio competes with major tech companies like Salesforce 1, Oracle, and SAP. The recent surge in generative AI is also seen as a positive sign for the industry's growth.
Key takeaways:
- Low-code and no-code startup Creatio has achieved unicorn status after securing a $200 million funding round led by Sapphire Ventures, with participation from StepStone Group, Volition Capital, and Horizon Capital.
- The investment values the company at $1.2 billion and will be used to help it expand globally and continue its revenue growth of 50% year on year.
- Creatio, which develops a no-code platform to automate customer relationship management and enterprise workflows, is also working on a new generative AI copilot to automate various marketing and sales tasks.
- The no-code and low-code sector saw solid growth in 2021-22, with startups like Builder.ai and Genesis Global raising large funding rounds, and the current generative AI explosion appears to be revitalizing the industry.