No-code application development startup Unqork raises $80M in new round led by CapitalG
Unqork, a no-code application platform that helps enterprises build software faster and with lower costs than traditional approaches, has secured $80 Million in Series B financing to expand its operations into additional markets, verticals, and growing its engineering team. The growth equity investment round was led by CapitalG of Google parent company Alphabet. As part of the new investment, Unqork will be expanding operations into additional markets, verticals, and growing its engineering team.
Founded in 2017 Gary Hoberman, the New York City-based Unqork is a cloud-based no-code enterprise application development platform that combines the simplicity of a no-code interface with the functionality and power of enterprise-grade software. Unqork’s clients include John Hancock, Goldman Sachs, Careerwise, and Liberty Mutual and many others.
The funding round was led by CapitalG, as well as existing investors. Joining as new investors are funds and accounts under management by subsidiaries of BlackRock, Inc. To date, Unqork has raised more than $110 million in funding and is used by some of the largest and most complex enterprise companies in the world.
“We’re ecstatic to have CapitalG help power Unqork’s momentum for continued growth,” said Unqork CEO, Gary Hoberman. “By building on our proven financial services and insurance successes, the additional funding will allow us to help deliver more of the best enterprise no-code technology and enable fully functional application development for top companies all over the world.”
Unqork hit a significant number of milestones in 2019, including growing annual recurring revenue at a significant triple-digit rate over the past 12 months, driven by both significant new customer acquisition and also ARR expansion within its existing customer base. The startup also delivered more than 10,000 hours of training to customers on its platform. It has grown its employee based from 30 employees at the beginning of 2019 to over 150 today.