NEW YORK, Feb. 26, 2020 /PRNewswire/ -- Unqork, the leading no-code application platform for the enterprise, today announced it has closed $51 million in additional growth funding for its Series B round from existing investor Goldman Sachs, along with new investors Aquiline Technology Growth and World Innovation Lab (WiL).
Unqork is a no-code application platform that helps large enterprises build complex custom software and applications faster, with higher quality, and lower costs than conventional approaches. Since launching in mid-2017, Unqork has earned the trust of some of the world's leading enterprises including Liberty Mutual, John Hancock and Manulife. Recent customer engagements include HSBC, Pacific Life, and Maimonides Medical Center.
"After spending over 20 years in enterprise IT leadership, I can tell you firsthand that the demands on technology leaders have never been more intense," said Gary Hoberman, Founder and CEO of Unqork. "Unqork enables progressive enterprises to quickly create and manage the most sophisticated, industrial-strength software using entirely no-code, visual tools. IT leaders are reporting speeds to deploy value-creating technology over one-hundred times faster than traditional coding. This latest funding round provides us with the resources needed to continue empowering these organizations to scale their businesses."
Today's funding closes a larger $131 million Series B led by CapitalG, the growth equity investment fund of Google parent company Alphabet, and will help Unqork execute new and existing initiatives such as:
- Growing the company's sales and marketing teams across the U.S. and around the world to meet consistently increasing demand for Unqork's platform
- Investing further in the company's world-class engineering team
- Training and continuing to roll out partnerships with some of the world's largest services firms and systems integrators including Cognizant, Deloitte, EY, KPMG, and Virtusa
- Expanding the Unqork community by hosting large-scale events, including No-code on Tour and Unqork Live, its first-ever user conference, on May 6th 2020 in New York City
- Continuing Unqork's efforts to certify individuals at all levels, with plans to significantly expand the thousands of credentialed Unqork Creators in 2020
"We can say firsthand that Unqork is changing the way the financial services industry thinks about enterprise technology and how it gets built," said Sarah Shenton, Vice President in the Merchant Banking Division at Goldman Sachs. "Time and time again we see the power of the Unqork platform turn skeptical IT leaders into true believers."
"No-code in the enterprise has gained massive traction, thanks largely to Unqork's adoption at the most complex organizations," said Laela Sturdy, General Partner at CapitalG. "This round is further proof that Unqork has the product, team and customer demand to continue to change the economics of enterprise IT."
Unqork is the industry pioneer no-code enterprise application platform that helps large companies build, deploy, and manage complex applications without writing a single line of code. Companies like Liberty Mutual, Goldman Sachs, and John Hancock are using Unqork's drag-and-drop interface to build enterprise applications faster, with higher quality, and lower costs than conventional approaches. To learn more, please visit: https://www.unqork.com.
About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm's long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.
CapitalG, formerly Google Capital, is Alphabet's independent growth equity fund. Founded in 2013, CapitalG focuses on growth stage technology companies, helping them scale with support from Google's vast expertise and resources. For further information about CapitalG, please visit www.capitalg.com.