No-code application development startup Unqork Inc. said today it has raised $51 million in additional funding to further build out its application platform.
The funding is an extension of its Series B round announced in November and included Goldman Sachs, Aquiline Technology Growth and World Innovation Lab. CapitalG, the growth equity investment fund of Google parent company Alphabet Inc., led the round.
Founded in 2017, Unqork offers a no-code application platform designed to help large enterprises build complex custom software and applications faster and at a lower cost than conventional approaches. The company’s platform offers a drag-and-drop interface that allows companies to build new apps for enterprise tasks by piecing together various components.
Unqork has found a willing audience particularly in the financial services sector. Customers include Goldman Sachs Group, Inc., John Hancock Life Insurance Co., Liberty Mutual Group, Manulife Financial Corp., HSBC Holding plc, Pacific Life Insurance Co. and the Maimonides Medical Center. The company is also in the process of rolling out partnerships with services firms and systems integrators including Cognizant Technology Solutions Corp., Deloitte Touche Tohmatsu Ltd., Ernst & Young Global Ltd., KPMG International Cooperative and Virtusa Corp.
“Unqork enables progressive enterprises to quickly create and manage the most sophisticated, industrial-strength software using entirely no-code, visual tools,” Gary Hoberman, founder and chief executive officer of Unqork, said in a statement. “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.”
The company competes with a range of other application development tools, including startups such as Appian Inc. and Mendix Inc. along with bigger players such as Microsoft Corp. with its PowerApps platform, Google with its App Maker offering, and Salesforce.com Inc. with its Lightning platform.
Including the new round, Unqork has raised $158.2 million to date. The new round is the fourth-largest Series B round announced by a company based in New York City, Unqork said.
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