Google’s CapitalG and Goldman Sachs invest $131 million in no-code application platform startup Unqork
Unqork, the New York-based no-code application platform for the enterprise, has closed additional $51 million in Series B growth funding. The round, which was led by CapitalG, and joined by Goldman Sachs, and funds and accounts under management by subsidiaries of BlackRock, Inc., will further propel Unqork’s rapid growth and expanding customer engagements.
Unqork was launched in mid-2017 to help large enterprises build complex custom software and applications faster, with higher quality, and lower costs than conventional approaches. Its platform is used by major global companies including Liberty Mutual, HSBC, John Hancock, Pacific Life, and Maimonides Medical Center.
“After spending over 20 years in enterprise IT leadership, I can tell you firsthand that the demands on technology leaders have never been more intense,” said Gary Hoberman, Founder and CEO of Unqork. “Unqork enables progressive enterprises to quickly create and manage the most sophisticated, industrial-strength software using entirely no-code, visual tools. IT leaders are reporting speeds to deploy value-creating technology over one-hundred times faster than traditional coding. This latest funding round provides us with the resources needed to continue empowering these organizations to scale their businesses.”
Today’s funding closes a larger $131 million Series B led by CapitalG, the growth equity investment fund of Google parent company Alphabet, and will help Unqork execute new and existing initiatives.
“We can say firsthand that Unqork is changing the way the financial services industry thinks about enterprise technology and how it gets built,” said Sarah Shenton, Vice President in the Merchant Banking Division at Goldman Sachs. “Time and time again we see the power of the Unqork platform turn skeptical IT leaders into true believers.”
“No-code in the enterprise has gained massive traction, thanks largely to Unqork’s adoption at the most complex organizations,” said Laela Sturdy, General Partner at CapitalG. “This round is further proof that Unqork has the product, team and customer demand to continue to change the economics of enterprise IT.”