Creatio secures USD $200 million to reach unicorn status

Creatio has secured a capital raise of USD $200 million, achieving a valuation of USD $1.2 billion in a funding round led by Sapphire Ventures. Additional participation came from StepStone Group and existing investors Volition Capital and Horizon Capital. This investment marks a significant milestone for Creatio, propelling the company to unicorn status.

The funding will support Creatio's global expansion, maintaining its commitment to innovation in the no-code and AI spaces. Established in the CRM and workflow automation sector, Creatio is recognised by notable industry analysts such as Gartner and Forrester for its contributions to no-code technology.

CEO Katherine Kostereva commented on the investment: "Together with our channel partners, Creatio is on a mission to deliver an unprecedented time-to-value to our clients through the powerful combination of no-code and AI. With this investment, we will continue to disrupt the traditional enterprise software approach, helping our clients to accelerate time-to-value and use technology as a competitive differentiation in their business."

From the perspective of investors, Rajeev Dham, Managing Director at Sapphire Ventures, emphasised the strengths of Creatio's platform. "We are thrilled to partner with CEO Katherine Kostereva and the entire Creatio team. Creatio's true AI-powered no-code platform built on a unique, composable architecture offers exceptional flexibility and usability that empowers enterprise customers to swiftly build, deploy and personalise applications for a variety of use cases across CRM, case management, and workflow automation," he said.

Sean Cantwell, Managing Partner at Volition Capital, highlighted how Creatio's platform stands out in the market. "We couldn't be more impressed with the company's growth and the impact that Creatio's platform brings to its customer community. Creatio addresses the complexity and inflexibility of traditional software vendors and enables organisations to seamlessly replace legacy technologies, delivering market-leading ROI," he noted.

Creatio plans to channel the new funds into several strategic areas. Firstly, the company aims to enhance its no-code and AI capabilities, focusing on AI-assisted development and Copilot functionalities. This will involve a significant investment in research and development (R&D) to ensure rapid, secure, and scalable no-code automation.

Additionally, the company will continue to expand its portfolio of ready-to-use components and templates tailored for various industries, including financial services, insurance, manufacturing, and distribution. This move aligns with their strategy to cater to diverse verticals, allowing clients to leverage the benefits of no-code automation more effectively.

The funding will also support Creatio's efforts to expand its global partner network. Creatio's partner programme has received a 5-star rating in the CRN Partner Program Guide for seven consecutive years and significantly contributes to its business. With the fresh investment, the company aims to empower its channel network to deliver enhanced business outcomes to customers worldwide. Creatio currently serves thousands of customers in 100 countries, supporting its platform in 23 languages.

Furthermore, Creatio will focus on growing its global team, which already operates in 25 countries. The company plans to expand across key areas, including R&D, customer success, marketing, and sales. This expansion aims to ensure continuous delivery of immediate results and personalised services, staying true to the core value of Genuine Care, which is pivotal to Creatio's operational ethos.

Creatio's consistent growth and innovative platform have been recognised in multiple low-code/no-code and CRM reports by Gartner and Forrester. Notably, it has been identified as a leader in The Forrester Wave: Low-Code Platforms for Citizen Developers, Q1 2024.

John Bratincevic, Principal Analyst at Forrester Research, described Creatio as "an obvious choice for its SaaS customers and a leading option for enterprises that want well-governed citizen development and superior automation at scale."