No-code startups continue to see a lot of traction among businesses, where employees – strictly speaking, non-technical, but still using software every day – acquire practical applications and build applications to support some of the more popular aspects. more repetitive of their jobs, the so-called “citizen coders” of the working world.
And in one of the latest developments, a Bryter – a no-code AI-based startup that has built a platform used by some 100 global companies to date on some 2,000 business applications and workflows. – announces a new round of funding to double. on this opportunity. The Berlin-based company has closed a $ 66 million Series B, money it will invest in its platform and expand into the United States from a New York office it opened the year. last. The funding follows strong demand for its tools, CEO and co-founder Michael Grupp said in an interview.
“It’s been a great year for both low-code and no-code platforms,” said Grupp, who co-founded the company with Micha-Manuel Bues and Michael Hübl. “What everyone has realized is that most people don’t really care about technology. They only care about use cases. They want to get things done. Customers who use the service include McDonald’s, Telefónica and PwC, KPMG and Deloitte in Europe, as well as banks, healthcare companies and industrial companies.
Tiger Global is leading this round, with previous backers Accel, Dawn Capital, Notion Capital and Cavalry Ventures all also participating, as well as a number of individual backers (they include Amit Agharwal, CPO of DataDog; Lars Björk, former CEO of Qlik; Ulf Zetterberg, Founder and CEO of Seal Software; and former Global SVP of ServiceNow James Fitzgerald).
Accel and Dawn co-led Bryter’s $ 16 million Series A less than a year ago, in June, a rapid funding pace that underscores both interest in the no-code / low-code space. – Bryter’s corporate customer base has doubled to 50 since then. – and the fact that startups hit it when the iron is hot.
And that’s not the only one: Airtable, Genesis, Rows, Creatio, and Ushur are just some of the many “ handy tech creations for non-techie startups that have been raising funds over the past few months.
Automation has been the biggest trend that has propelled much of this business forward: Knowledge workers now spend most of their time these days in apps – a fact that predates the pandemic, but that has certainly been pursued throughout this one. While some of this work still requires manual involvement and evaluation on the part of these workers, software has automated large swathes of these jobs.
RPA – robotic process automation, where companies like UiPath, Automation Anywhere, and Blue Prism have taken a big lead – has been a big part of this business, especially when it comes to reading forms and many entries. data – but there are plenty of other transactions and activities left within specific applications where RPA is not typically used (at least not yet!). And this is where non-tech workers are discovering that codeless tools like Bryter, which use artificial intelligence to provide more personalized, yet scalable automation, can play a very useful role.
“We’re at the top of the RPA in a lot of cases,” Grupp said.
The company says the areas in which its platform has been implemented include compliance, legal, tax, privacy and security, purchasing, administration and human resources, and the types of features in operation. Creative courses include tools such as virtual assistants, chatbots, interactive self-service. tools, and more. These do not replace people as such but reduce the time they have to devote to specific tasks to process and manage the information within them.
This scalability, and the rapid adoption by customers of a user pool that extends beyond the early adopters of the technology, is part of what has attracted funding. “Bryter has all the characteristics of a leading software publisher: a high quality product that solves a real customer problem, a great market opportunity and a world-class founding team,” said John Curtius, Partner at Tiger Global, in a statement. “Bryter’s customer feedback has been overwhelmingly positive in our research, and we’re excited to see the company reach new heights in the years to come.”
“Bryter has experienced explosive growth over the past year, signing referral customers across a variety of industries and use cases. This is no surprise. In the world affected by the pandemic, digitization is no longer a good, it is an imperative, ”added Evgenia Plotnikova, partner at Dawn Capital.