Superblocks has successfully raised $37 million in a Series A funding round, achieving a valuation of $237 million. The platform empowers developers to build custom internal tools for support, sales, and operations teams.
Keep reading to explore the intricacies of Superblocks' fundraising journey and the investors backing this innovative platform.
What Is Superblocks?
Superblocks, founded by Ran Ma, is based in New York City. The company specializes in providing a platform for developers to build secure, enterprise-grade internal tools quickly.
With a team of 11-50 employees, Superblocks supports multiple programming languages, including JavaScript, Python, and SQL. The platform integrates data sources and UI components through drag-and-drop or code.
Superblocks is in the growth stage and has received significant investment from top investors, helping developers build custom tooling for support, sales, and operations teams.
How Much Funding Has Superblocks Raised?
- Series A Round
- Amount Raised: $37,000,000
- Date: August 10, 2022
- Lead Investors: Kleiner Perkins, Meritech Capital, Spark Capital, Greenoaks Capital
- Valuation at Round: $237M
- Motivation Behind the Round: The funding was secured to help companies build and maintain internal apps, as indicated by the press release titled "Superblocks secures $37M to help companies build and maintain internal apps."
Superblocks has raised a total of $37,000,000 with a current valuation of $237M.
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a renowned venture capital firm based in Silicon Valley. It has a long history of investing in early-stage and growth companies.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Google, Amazon, Twitter.
- Greenoaks
- Details: Greenoaks is an investment firm that focuses on technology companies with strong growth potential. It has a global presence and a diverse portfolio.
- Investment Focus Areas: Technology, consumer internet, software.
- Notable Investments: Stripe, Discord, Robinhood.
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in startups across various stages. It is known for its hands-on approach and strong network.
- Investment Focus Areas: Media, technology, consumer internet.
- Notable Investments: Slack, Postmates, Plaid.
- Meritech Capital
- Details: Meritech Capital is a growth-stage venture capital firm. It focuses on investing in companies that have demonstrated significant market traction.
- Investment Focus Areas: Technology, enterprise software, healthcare.
- Notable Investments: Facebook, Salesforce, Snowflake.
- Co-founders and Founders of Various Companies
- Details: This group includes individual investors who have founded or co-founded successful tech companies. They bring valuable industry experience and insights.
- Investment Focus Areas: Technology, innovative startups, enterprise software.
- Notable Investments: Not specified, but they are notable for their roles in companies like Airtable, Twilio, Okta.
What's Next for Superblocks?
Superblocks stands at the cusp of a significant opportunity, aiming to reduce the time developers spend on internal tooling and automate repetitive tasks. With developers dedicating over 30% of their time to building internal apps, the potential market is vast. Companies with more than 1,000 employees can spend upwards of $8.2 million annually on maintaining these tools, highlighting the substantial cost-saving potential Superblocks offers.
Given the recent $37 million funding round, future fundraising opportunities seem promising as the company continues to grow and expand its product offerings. However, Superblocks will need to navigate challenges such as competition from rivals like Retool and Appsmith, and the task of convincing companies to switch from existing solutions. Maintaining and securing internal apps cost-effectively will also be crucial as they scale.
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