Oversubscribed Series A round led by Foundry Group, with additional funding from Techstars and Firebrand Ventures, will use the investment to accelerate low-code platform development
MIAMI , April 6, 2022 /PRNewswire/ -- 8base, the leading low-code development platform for building digital products, internal applications and more, today announced the completion of a $10.6 million Series A funding round. 8base will use the funds to continue the rapid expansion of its product capabilities while ramping up its go-to-market team. The oversubscribed funding round was led by Foundry Group, with participation by Techstars, Firebrand Ventures, MongoDB PaaS Accelerator, 11 Tribes Ventures, Argonautic Ventures, LAGO Innovation Fund and Strawberry Creek Ventures, an Alumni Ventures fund; and comes on the back of accelerated customer and technical growth in the last 12 months.
8base dramatically accelerates application development efforts and includes tools for building data models, custom logic, APIs, connections to external systems, cloud-based hosting, security, authentication, and frontend applications. Using 8base, new software offerings can be built in weeks rather than months or years while never suffering from scaling limitations.
"We built 8base to empower creators, whether founders or leaders in larger companies, to get to market faster and iterate more rapidly, with far less financial investment. "As a founder and someone who has been on the frontlines of the software industry, I have seen first-hand the frustrations and shortcomings of legacy software development processes. From architecture to actual coding, I always felt there was a better way to build, and the answer to that fundamental dilemma founders and developers face every day ultimately resulted in the creation of 8base," said Albert Santalo, 8base founder and CEO. "Since launching 8base in 2017, we have kept our focus on creating a platform and community to transform the experience of building for developers, and our Series A funding will accelerate our efforts to democratize software development and help usher in the next great wave of ingenuity and entrepreneurship."
"8base is shaping the new industry of low-code development," said Chris Moody, Partner at Foundry Group -- who has now joined 8base's board of directors. "With the vast majority of SaaS and other digital products still being developed using large dev teams and antiquated methodologies, the company is filling a large gap in the market and will undoubtedly emerge as the leader in this fast-growing sector. We believe 8base is building a true enterprise-ready low-code framework that leverages the world's 14 million JavaScript developers rather than introduces a new, proprietary language."
"Albert is a true visionary, and with his newest company, 8base, they are on the cusp of the next great wave of software development innovation. We are excited to help support 8base as they continue to scale and unlock new opportunities for founders and creators," said Amos Schwartzfarb, Managing Director of Techstars Austin.
"Low-code software development is a breakthrough technology that will unleash a new era of innovation for developers and non-technical founders," said John Fein, Managing Partner of Firebrand Ventures. "We believe 8base has the vision, proven track record, and team to quickly emerge as one of the leaders in this growing space. Through investments in early-stage companies, we often see the struggles that entrepreneurs face with securing and managing technical talent to success on a limited budget. 8base provides an easier technical path for founders to pursue their dreams," said Fein.
About 8base
8base is a leader in providing a better, faster, and more affordable way to develop applications through low-code development. Founded in 2017, 8base is on a mission to make developers' and innovators' lives easier by continually removing redundant and low-value-add work from the application development life-cycle. 8base is headquartered in Miami, Florida, and is an alum of Techstars Austin 2020.
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