Celigo Secures $48M in Series C Funding to Perfect Business Automation for Mid-Market Companies
Investment led by OMERS Growth Equity, joined by NewSpring Capital
Celigo, the leading Integration Platform as a Service (iPaaS) provider for the mid-market, has announced that the company raised $48 million in Series C funding to optimize end-to-end business automation for mid-market companies. The company will use the funds to increase its go-to-market capacity and accelerate global expansion. The funding round was led by OMERS Growth Equity and joined by NewSpring Capital.
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“For too long, the promise of the modern iPaaS has gone unrealized. Legacy providers connect cloud-based business applications, but the automation of business processes that use those applications has not improved,” said Jan Arendtsz, founder and CEO at Celigo. “With the support of our investors, Celigo will enable breakaway growth, controlled cost management, and superior customer experiences for our customers by ensuring that every process — at every level of the organization — can be automated in the most optimal way from a single platform.”
“Worldwide end-user spending on public cloud services is forecast to grow 23.1% in 2021 to total $332.3 billion, up from $270 billion in 2020,” according to the latest forecast from Gartner, Inc.1 According to another report by GartnerⓇ, “the global enterprise software market grew 9% in 2020 to over $535 billion, confirming its status as the most dynamic and fastest-growing IT market.”2 The significant increase in spend and adoption is directly attributable to the change in the way people work and the need to streamline processes to accommodate the new ways of doing business.
As companies continue to add best-of-breed applications to their technology stacks and as digital processes multiply, the need for automation will become even more critical. Celigo is positioned to deliver on the promise of end-to-end business automation by creating perfect business processes based on best practices and past results.
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Celigo is the only iPaaS company that delivers prebuilt business process automations using embedded business logic. The business logic enables IT and non-IT users alike to use preconfigured settings to impact the behavior of multiple downstream flows to realize the optimal automation of business processes. The business logic was developed using best practice learnings from thousands of customer deployments and tens of thousands of implemented processes. The company also recently announced it is the only iPaaS provider to automate business processes across multiple cloud applications using a single prebuilt integration.
The Celigo Platform also allows IT teams to manage business process automations, error handling, compliance with global security and privacy standards, and full reporting and analytics through a central dashboard while giving control of each automated business process to the line of business group that is closest to it.
“Automation of the modern enterprise requires a next-generation iPaaS that is intuitive to users while providing best practices and governance at cloud scale,” said Mark Shulgan, Managing Director and Head of OMERS Growth Equity. “Celigo has established itself as a market leader, combining a powerful integration engine with the usability of a modern SaaS application, enabling organizations to be more agile and innovate faster. We are proud to invest in Celigo and enthusiastically support its efforts to further pioneer the future of cloud-based application integration,” he added.
