Unqork has raised $51 million in new financing, money it plans to use to fuel additional growth and expansion for its no-code application platform that helps large businesses rapidly build complex custom software and applications.
The funding is an add-on to a larger $131 million Series B round. The new money comes from existing investor Goldman Sachs, along with new investors Aquiline Technology Growth and World Innovation Lab (WiL). The broader round was led by Capital G, the growth equity investment fund of Google parent company Alphabet.
Launched in 2017, New York City-based Unqork pitches itself as a no-code enterprise application platform that helps large companies build, deploy and manage complex applications without writing code. The startup asserts that this process involves higher quality and lower costs than traditional approaches. Its technology includes a drag-and-drop interface. Some previous companies it has worked with include Liberty Mutual, John Hancock, Manulife, HSBC, Pacific Life and Maimonides Medical Center, Unqork said.
Unqork plans to use the massive cash infusion to grow its U.S. and global sales and marketing teams in order to help the company meet demands for its product. Plans also call for investing in engineering team training and rolling out partnerships with services firms and systems integrators including Cognizant, Deloitte, EY, KPMG, and Virtusa.
Source: Unqork