Total amount raised
$238.2 Millions
Latest funding date
February, 2020
Location
Unqork has successfully raised significant funding through multiple rounds, including a Series C, with backing from notable investors like Vine Ventures and CapitalG. The platform offers a no-code enterprise application solution that enables businesses to build, deploy, and manage complex applications without writing a single line of code.
Keep reading to explore the intricacies of Unqork's fundraising journey and the investors backing this innovative platform.
What Is Unqork?
Unqork, founded in 2017 by Alex Schmelkin and Gary Hoberman, is headquartered in New York, New York. The company specializes in providing a no-code enterprise application platform that enables businesses to build, deploy, and manage complex applications without writing any code.
Unqork's platform is designed to streamline the product sales process, improve customer experience, and allow large companies to create custom software faster and more efficiently. The company serves various sectors, including insurance, financial services, and state and local governments.
With a workforce of 251-500 employees, Unqork continues to innovate in the enterprise application development space, leveraging AI-powered regenerative applications to accelerate business growth and enhance security.
How Much Funding Has Unqork Raised?
- Seed Round
- Amount Raised: $5.2M
- Date: March 2018
- Lead Investors: Summerfield Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Unqork's no-code platform and establish initial market presence.
- Series A
- Amount Raised: $22M
- Date: April 2019
- Lead Investors: GS Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the engineering team and accelerate product development.
- Series B
- Amount Raised: $80M
- Date: October 2019
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale sales and marketing efforts and support partnerships with major firms.
- Series B Extension
- Amount Raised: $51M
- Date: February 2020
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand sales and marketing teams and enhance the engineering team.
- Series C
- Amount Raised: $207M
- Date: October 2020
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the platform's capabilities.
Total Amount Raised: $365.2M. Current Valuation: Not publicly disclosed.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is the world's largest asset manager, with over $9 trillion in assets under management as of 2021.
- Investment Focus Areas: Technology, Financial Services, Healthcare
- Notable Investments: Apple, Microsoft, Amazon
- CapitalG
- Details: CapitalG is the growth equity investment fund of Alphabet Inc., the parent company of Google. It focuses on late-stage technology companies that have the potential to become market leaders.
- Investment Focus Areas: Technology, FinTech, Healthcare
- Notable Investments: Airbnb, Stripe, Lyft
- GS Growth
- Details: GS Growth is the growth equity arm of Goldman Sachs, focusing on investing in high-growth companies. It provides capital to companies in various stages of development, from early to late-stage growth.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Uber, Spotify, Pinterest
- Summerfield Capital Management
- Details: Summerfield Capital Management is a private investment firm that focuses on growth-stage companies. It provides strategic capital and support to help companies scale and achieve their growth objectives.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Peloton, Zoom, Slack
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments, and individuals.
- Investment Focus Areas: Financial Services, Technology, Healthcare
- Notable Investments: Uber, Spotify, WeWork
What's Next for Unqork?
Unqork stands at the cusp of significant growth opportunities, driven by the increasing demand for no-code platforms in enterprise IT. The company is poised to expand its market presence by targeting large enterprises and forming strategic partnerships with major service firms and systems integrators. The no-code market is projected to grow substantially, offering Unqork a vast landscape to capture new clients and enhance its platform capabilities.
Future fundraising efforts are likely as Unqork continues to scale its operations and meet the growing demand for its solutions. The involvement of high-profile investors like CapitalG and Goldman Sachs indicates strong investor confidence, paving the way for potential future rounds. However, Unqork will need to navigate challenges such as maintaining platform quality, competing with established players, and managing rapid growth while ensuring customer satisfaction.
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