Unqork secured $207 million in Series C funding
Unqork , an enterprise no-code platform, announced it has secured $207 million in Series C funding, raising the company’s valuation to $2 billion. The round is led by funds and accounts managed by BlackRock , and joined by Eldridge, Fin Venture Capital, Hewlett Packard Enterprise, Schonfeld Strategic Advisors and Sunley House Capital Management, a subsidiary of Advent International . Existing investors including CapitalG , Alphabet ’s independent growth fund, Goldman Sachs , Broadridge Financial Solutions, Aquiline Technology Growth and World Innovation Lab (WiL) are also participating.
Founded in 2017, Unqork develops a visual, no-code application platform that helps large enterprises build complex custom software faster, with higher quality and lower costs than traditional approaches. According to our latest innovation report, the company enjoyed a 113% YoY employee growth.
“At Unqork, we pride ourselves in fearlessly taking on huge challenges with our customers. That’s an important characteristic to have when your mission is to completely change the way enterprises create software by offering a better way without code. The same scale that cloud computing brought to infrastructure, Unqork is now bringing to all enterprise software in every industry. That places Unqork in a unique position to capture the $500 billion wasted annually on custom enterprise code and this funding will accelerate our efforts.” – Founder and CEO, Unqork, Gary Hoberman.
“Unqork has reimagined the way enterprise software is created. As a no-code platform that is designed to simplify and digitize mission-critical and often highly complex business functions at large organizations, Unqork is uniquely positioned in the market. It makes the buy versus build decision a no-brainer.” – Operating partner, Eldridge, Michele Trogni.
Unqork’s customers include Aon , The District of Columbia, Goldman Sachs, Liberty Mutual , Montgomery County, New York City, Nippon Life, Pacific Life , Rethink Food, Vault and more. New customer, Maimonides Medical Center, is the largest hospital in Brooklyn and at the forefront of innovative medicine.
“We are committed to providing optimal experiences for our patients and the clinicians we work with. As we move to support modern care delivery, Unqork’s broad capabilities made them an ideal technology partner on our digitization journey. We are confident that Unqork’s ability to easily integrate with complex internal and external systems, its ability to securely handle health care data, and its support of a high-fidelity user interface that meets the expectations of our patients will give us a unique way to connect with those we serve.” – President and CEO, Maimonides Medical Center, Ken Gibbs.
Unqork will use the new funding to further execute on a number of ongoing initiatives, such as:
- Growing its global salesforce to meet increasing demand for Unqork’s platform
- Investing further in the company’s technology created by its world-class engineering team
- Expanding training and go-to-market partnerships with the world’s leading services firms and systems integrators including Capco, Cognizant , Deloitte, EY, KPMG and Virtusa