No-code companies are witnessing sizable growth in the enterprise market, where employees who are deploying software regularly are now getting more convenient development apps for covering repetitive operational aspects. Bryter, the no-code company has created a major platform that is already used by more than 100 worldwide enterprises throughout 2,000+ workflows and applications in business. It has confirmed a new funding round of $66 million (Series B) and will be using the money to venture into the US market for expansion.
The company has already set up its office in New York last year. There is a sizable demand for the company’s tools according to its co-founder and CEO Michael Grupp. He stated that Bryter had a positive year with more consumers giving importance to various use cases. Several clients like Telefonica, McDonald’s, KPMG, PwC, and Deloitte are using the platform already.
This funding round was led primarily by Tiger Global, while earlier investors like Dawn Capital, Accel, Cavalry Ventures, and Notion Capital also participated in the same. There were numerous individual investors like Datadog CPO Amit Agarwal, ex-Qlik CEO Lars Bjork, and the CEO and founder at Seal Software, Ulf Zetterberg. The ex-global SVP of ServiceNow, James Fitzgerald also took part. The company valuation has not been revealed, although Bryter has got $90million in funding till now.
The Series A round of $16 million was spearheaded by both Dawn and Accel. The customer base in the enterprise category has gone up to 50 ever since. Several other players like Genesis, Airtable, Creatio, Rows, and Ushur are also raising money. RPA is still not used in several cases including various transactions and other activities. This is the zone where non-technology workers are finding it more helpful to deploy Bryter which is a no-code option. Several organizations are leveraging these solutions in areas like taxation, security, legal, compliance, privacy, procurement, HR, administration, and more. In-built features are also expanding to cover Chatbots, virtual assistants, and self-service tools of an interactive nature
These play a major role in lowering the time required for various tasks for handling and processing information, while also developing various customer tools for seamless service-based interactions. This also reduces the time required for engagement handling and detail gathering by agents. The sheer scalability of the solution has led to fast growth in customer numbers. Tiger Global partner John Curtius stated that Bryter offers a cutting-edge software organization-like experience, including a premier offering that solves several problems, along with having a great team of founders, and a sizable future opportunity in the global market. He also added how customers have given excellent feedback so far. The company has signed up several iconic brands over diverse segments and categories.