Copenhagen-based course of automation platform Leapwork has snagged Denmark’s largest ever Series B funding spherical, saying a $62 million increase co-led by KKR and Salesforce Ventures, with present traders DN Capital and Headline additionally taking part.
Also at present it’s disclosing that its post-money valuation now stands at $312M.
The ‘no code’ 2015-founded startup final raised again in 2019, when it snagged a $10M Series A. The enterprise was bootstrapped by earlier years — with the founders placing in their very own cash, garnered from prior profitable exits. Their observe on guess on ‘no code’ already appears to be like to have paid off in spades: Since launching the platform in 2017, Leapwork has seen its buyer base greater than double yr on yr and it now has a roster of 300+ prospects world wide paying it to hurry up their routine enterprise processes.
Software testing is a selected focus for the instruments, which Leapwork pitches at enterprises’ high quality assurance and check groups.
It claims that through the use of its ‘no code’ tech — a label for the development which refers to software program that’s designed to be accessible to non-technical workers, vastly growing its utility and applicability — companies can obtain a 10x sooner time to market, 97% productiveness good points, and a 90% discount in utility errors. So the wider pitch is that it could actually help enterprises to attain sooner digital transformations with solely their present mixture of in-house expertise.
Customers embody the likes of PayPal, Mercedes-Benz and BNP Paribas.
Leapwork’s personal enterprise, in the meantime, has grown to a staff of 170 individuals — working throughout 9 places of work all through Europe, North America and Asia.
The Series B funding can be used to speed up its world enlargement, with the startup telling us it plans to increase the scale of its native groups in key markets and open a collection of tech hubs to help additional product growth.
Expanding in North America is an enormous precedence now, with Leapwork noting it not too long ago opened a New York workplace — the place it plans to “significantly” improve headcount.
“In terms of our global presence, we want to ensure we are as close to our customers as possible, by continuing to build up local teams and expertise across each of our key markets, especially Europe and North America,” CEO and co-founder Christian Brink Frederiksen tells TechCrunch. “For instance, we are going to construct up extra experience and plan to actually scale up the scale of the staff primarily based out of our New York workplace over the subsequent 12 months.
“Equally we have opened new offices across Europe, so we want to ensure our teams have the scope to work closely with customers. We also plan to invest heavily in the product and the technology that underpins it. For example, we’ll be doubling the size of our tech hubs in Copenhagen and India over the next 12 months.”
Product growth set to be accelerated with the chunky Series B will concentrate on enhancements and performance geared toward “breaking down the language barrier between humans and computers”, as Brink Frederiksen places it
“Europe and the US are our two main markets. Half of our customers are US companies,” he additionally tells us, including: “We are extraordinarily standard amongst enterprise prospects, particularly these with advanced compliance set-ups — 40% of our prospects come from enterprises banking, insurance coverage and monetary companies.
“Having said that, because our solution is no-code, it is heavily used across industries, including healthcare and life sciences, logistics and transportation, retail, manufacturing and more.”
Asked about rivals — on condition that the no code house has turn into a seething hotbed of exercise over a lot of years — Leapwork’s preliminary response is coy, attempting the road that its enterprise is a ‘truly special snowflake’. (“We actually consider we’re the one resolution that enables non-technical on a regular basis enterprise customers to automate repetitive pc processes, without having to…
