Total amount raised
$60.1 Millions
Latest funding date
01/01/2023
Location
Crowdbotics has successfully raised significant funding over multiple rounds, with the latest being a Series B round on January 25, 2023. The company leverages generative AI and reusable code to accelerate the software development lifecycle, offering a range of products and services designed to modernize legacy applications.
With backing from notable investors such as Harrison Metal and New Enterprise Associates, Crowdbotics is poised to make a substantial impact in the tech industry. Keep reading to explore the intricacies of Crowdbotics' fundraising journey and the investors supporting this innovative platform.
What Is Crowdbotics?
Founded in 2016 by Anand Kulkarni, Crowdbotics is headquartered in Berkeley, California. The company operates in the fields of apps, Internet of Things, robotics, and software, employing between 101 and 250 people.
Crowdbotics leverages generative AI and reusable code to accelerate the software development lifecycle. Their platform allows product managers to turn ideas into real code using a library of components and a network of experts, handling infrastructure, implementation, maintenance, operations, monitoring, and security for the life of the project.
How Much Funding Has Crowdbotics Raised?
- Pre-Seed Round
- Amount Raised: $120K
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their platform and initial product offerings.
- Seed Round
- Amount Raised: $3M
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Bee Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations.
- Debt Financing
- Amount Raised: $3.5M
- Date: January 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product enhancements.
- Series A
- Amount Raised: $13.4M
- Date: April 2021
- Lead Investors: Jackson Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance platform capabilities.
- Series B
- Amount Raised: $40M
- Date: January 2023
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To focus on market education, expand product offerings, and enhance platform features.
Total Amount Raised: $60.02M. Current Valuation: Not publicly disclosed.
Key Investors
- New Enterprise Associates
- Details: New Enterprise Associates (NEA) is a venture capital firm that led the Series B funding round for Crowdbotics. NEA is known for its extensive portfolio and significant investments in various sectors.
- Investment Focus Areas: Healthcare, technology, energy.
- Notable Investments: Robinhood, Coursera, Duolingo.
- Jackson Square Ventures
- Details: Jackson Square Ventures (JSV) is a venture capital firm that participated in the Series B funding round for Crowdbotics. JSV focuses on early-stage investments and has a strong presence in the tech industry.
- Investment Focus Areas: SaaS, marketplaces, healthcare.
- Notable Investments: DocuSign, Strava, Upwork.
- Bee Partners
- Details: Bee Partners is an early-stage venture capital firm that invested in Crowdbotics during its seed round. The firm is known for supporting innovative startups with strong growth potential.
- Investment Focus Areas: AI, robotics, enterprise software.
- Notable Investments: TubeMogul, Indiegogo, StatMuse.
- Harrison Metal
- Details: Harrison Metal is a venture capital firm that has invested in Crowdbotics. The firm is known for its focus on early-stage investments and its hands-on approach to supporting portfolio companies.
- Investment Focus Areas: Education, consumer internet, enterprise software.
- Notable Investments: Birchbox, ModCloth, Lumosity.
- Homebrew
- Details: Homebrew is a venture capital firm that participated in the Series B funding round for Crowdbotics. The firm focuses on seed-stage investments and supports companies that aim to create a positive impact.
- Investment Focus Areas: Fintech, healthcare, enterprise software.
- Notable Investments: Chime, Plaid, Gusto.
What's Next for Crowdbotics?
With a fresh $40 million in Series B funding, Crowdbotics is poised to capitalize on significant opportunities in sectors like healthcare, finance, and government, where security and regulatory compliance are paramount. The company plans to expand its enterprise presence, grow its product offerings, and increase its customer base, leveraging AI capabilities like GPT-3 to enhance its platform's functionality.
Future fundraising opportunities seem promising as Crowdbotics continues to grow and integrate new technologies. The company's rapid revenue growth and expanding workforce indicate a strong potential for additional funding rounds to support further scaling and development.
However, challenges such as competition from low-code/no-code platforms, ensuring the quality and security of reusable code modules, and managing rapid growth could pose hurdles. Despite these challenges, Crowdbotics' innovative approach and market traction make it a compelling player in the app development industry.
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