Creatio Raises $68M to Fuel Growth of its Leading Low-Code Platform for Process Management and CRM
Creatio, a global software company that provides a leading low-code platform for process management and CRM, today announced a $68M capital raise led by Volition Capital, a US-based growth equity firm investing in high growth companies, with participation from Horizon Capital, a private equity firm investing in Europe. The funding is a minority investment to fuel the company’s growth, with Creatio’s strategy, leadership team, product vision and commitment to customer success remaining unchanged.
Since its founding, Creatio has achieved rapid organic growth without previous external capital. Today, the company is delivering exceptional financial results with a team of 600 people worldwide. This investment comes on the heels of rapid exponential company growth. Despite the COVID-19 pandemic, its net retention rate in 2020 was the highest in the company’s history. Creatio will use the funds to build aggressively on this momentum and will invest in R&D, global marketing and sales expansion, and support its vast network of partners in 110 countries worldwide.
“Our vision is a world where everyone can automate business ideas in minutes,” said Katherine Kostereva, CEO and co-founder of Creatio. “Now is a critical time for digital and IT leaders to leverage tech and transform their organizations into low-code companies. This investment will allow us to keep building toward the vision of creating the new world, where any company can automate and change their business processes at speed and scale.”
Creatio is consistently recognized by top industry analysts, including Gartner and Forrester. It’s been included into five Gartner Magic Quadrants and seven Forrester Waves, named a Leader in two Gartner Magic Quadrants — for Sales Force Automation and CRM Lead Management — in 2019 and 2020.
Leveraging a Significant Market Opportunity
The emerging global low-code development platform market is predicted to reach $187 billion by 2030 and holds immense potential for organizations to digitize key business processes and reinvent how they engage with customers, partners and employees. Creatio is well positioned to continue its category dominance, and will use the funds to boost the development of the market for low-code process management and CRM solutions.
“The market category of low-code platforms for process management and CRM has outstanding growth potential,” said Sean Cantwell, Managing Partner at Volition Capital. “Creatio’s offering, extensive partner base and commitment to customer success has enabled impressive organic growth and market traction. We see Creatio’s leadership position being further strengthened as companies embrace low-code solutions that close the IT delivery gap and empower any organization to become a low-code company,” added Roger Hurwitz, Managing Partner at Volition Capital.
“We are delighted to partner with visionary co-founder and CEO Katherine Kostereva and the Creatio team, alongside Volition Capital. Creatio truly has it all to deliver on its ambitious expansion plans – a first-class team committed to its customers, solid execution and strong product innovation,” added Lenna Koszarny, Founding Partner and CEO at Horizon Capital.
Creatio is driving mutual success through its partner program with top global system integrators and consultants such as Tata Consultancy Services, Amdocs, Virtusa, Softline, Tech Mahindra and many other channel partners worldwide. The company is also rapidly expanding its already robust marketplace ecosystem of ready-to-use apps, vertical solutions and templates to extend the platform and accelerate productivity.