Unqork has successfully raised $360 million over multiple funding rounds, achieving a valuation of $2 billion. The platform offers a zero-code solution for enterprise application development, enabling businesses to innovate without the constraints of traditional coding.
Keep reading to explore the intricacies of Unqork's fundraising journey and the investors backing this transformative platform.
What Is Unqork?
Unqork, founded in 2017, is headquartered in New York City. The company was established by Gary Hoberman, who envisioned a zero-code platform to revolutionize enterprise application development.
Unqork's platform allows businesses to build, secure, and manage applications without writing any code, addressing the challenges of traditional coding and technical debt. This innovative approach has attracted a significant number of enterprises across various industries.
With a growing team of over 500 employees, Unqork continues to expand its capabilities and market presence, driving innovation and efficiency in enterprise software development.
How Much Funding Has Unqork Raised?
- Series B (February 2020)
- Amount Raised: $131,000,000
- Date: February 2020
- Lead Investors: CapitalG, BlackRock, Goldman Sachs
- Motivation Behind the Round: To accelerate go-to-market and global expansion
- Series B (October 2019)
- Amount Raised: $80,000,000
- Date: October 2019
- Motivation Behind the Round: To enhance product development and expand market reach
- Series A (April 2019)
- Amount Raised: $22,000,000
- Date: April 2019
- Lead Investors: Goldman Sachs
- Motivation Behind the Round: To scale operations and invest in technology
- Seed (March 2018)
- Amount Raised: $5,169,951
- Date: March 2018
- Motivation Behind the Round: To launch the platform and secure initial customers
Unqork has raised a total of $238,169,951 with a current valuation of $2 billion.
Key Investors
- CapitalG
- Details: CapitalG is Alphabet's independent growth equity fund, founded in 2013. It focuses on investing in growth-stage technology companies.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Airbnb, Stripe, Lyft
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm, founded in 1869. The Merchant Banking Division (MBD) is the primary center for the firm's long-term principal investing activity.
- Investment Focus Areas: Private equity, infrastructure, real estate
- Notable Investments: Uber, Spotify, WeWork
- BlackRock, Inc.
- Details: BlackRock is a global investment management corporation, involved through its subsidiaries. It is one of the world's largest asset managers.
- Investment Focus Areas: Equities, fixed income, alternatives
- Notable Investments: Apple, Microsoft, Amazon
- Aquiline Technology Growth
- Details: Aquiline Technology Growth is a growth equity investor focusing on technology companies. It aims to support innovative technology solutions.
- Investment Focus Areas: Fintech, insurtech, enterprise software
- Notable Investments: Better.com, Virtus Partners, RIA in a Box
- World Innovation Lab (WiL)
- Details: World Innovation Lab (WiL) is a venture capital firm that invests in technology companies. It bridges the gap between startups and large corporations.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Asana, Mercari, Auth0
What's Next for Unqork?
Unqork's future is brimming with opportunities, particularly in expanding its sales and marketing teams globally and investing in engineering. The company aims to train and partner with large services firms and systems integrators, which could significantly boost its market presence. The no-code platform trend is gaining traction, and Unqork is well-positioned to capitalize on this shift, potentially leading to further fundraising rounds to support its rapid growth.
However, scaling operations to meet increasing demand and maintaining high-quality service will be critical challenges. Managing partnerships and integrations with large firms also presents complexities. Despite these hurdles, Unqork's innovative approach and strong investor backing suggest a promising path ahead.
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