Total amount raised
$51.5 Millions
Latest funding date
June, 2022
Location
Appsmith has successfully raised significant funding through multiple rounds, with its latest being a Series B. The platform is an open-source low-code application tool designed to help developers build custom internal applications efficiently.
Keep reading to explore the intricacies of Appsmith's fundraising journey and the investors backing this innovative platform.
What Is Appsmith?
Appsmith, founded on July 1, 2019, is headquartered in San Francisco, California. The company was established by Abhishek Nayak and Nikhil Nandagopal.
Appsmith is an open-source low-code application platform designed to help developers build custom internal applications quickly and securely. The platform offers features like broad data source connectivity, drag-and-drop UI building, JS customization, and CI/CD integration with Git.
With a team of 51-100 employees, Appsmith has been downloaded over 5 million times and is used by over 1,000 enterprises in more than 100 countries.
How Much Funding Has Appsmith Raised?
- Seed Round
- Amount Raised: $2.5M
- 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: $8M
- 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: $41M
- Date: June 2022
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To add features and extend security for the platform.
Total Amount Raised: $51.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm that invests in high-growth technology and software companies. They have a strong track record of supporting companies through various stages of growth.
- Investment Focus Areas: Software, technology, high-growth companies.
- Notable Investments: Twitter, Shopify, Qualtrics.
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have been instrumental in the growth of several tech giants.
- Investment Focus Areas: Early-stage technology, growth-stage technology.
- Notable Investments: Facebook, Dropbox, Slack.
- Canaan Partners
- Details: Canaan Partners is a venture capital firm that invests in early-stage startups across technology and healthcare sectors. They focus on transformative innovations.
- Investment Focus Areas: Early-stage technology, healthcare.
- Notable Investments: LendingClub, Match.com, Ebates.
- OSS Capital
- Details: OSS Capital is a venture capital firm focused on supporting open-source software companies. They aim to foster the growth of open-source projects.
- Investment Focus Areas: Open-source software.
- Notable Investments: Various open-source projects.
- Jeff Hammerbacher
- Details: Jeff Hammerbacher is a co-founder of Cloudera and a prominent angel investor. He has a background in data science and big data technologies.
- Investment Focus Areas: Data science, big data, technology startups.
- Notable Investments: Cloudera.
What's Next for Appsmith?
Appsmith stands at the cusp of significant growth opportunities. With the low-code development market expanding rapidly, the platform is well-positioned to scale its offerings, adding new features and enhancing security. The demand for internal applications across various industries presents a vast market, and Appsmith's open-source model is set to drive further adoption and innovation.
Future fundraising opportunities appear promising, given the platform's rapid growth and successful Series B funding. Additional venture capital rounds or strategic investments could further scale the platform and expand its market reach. However, Appsmith will need to navigate challenges such as competition from other low-code platforms and ensuring robust security and compliance for enterprise customers.
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