Corporate group Creatio raises a $68M funding
Creatio, a corporate group providing a leading low-code platform for process management and CRM, which includes Terrasoft in its group, has raised a minority investment of $68 million to strengthen its position in the international low-code market, as the company told AIN.UA.
The round was led by Volition Capital that invests in fast-growing technology companies developing businesses in North America and Latin America. Horizon Capital, a private equity firm with more than 25 years of experience supporting growth companies in Europe, also participated in the round. The company’s team, management, and strategy, as well as its product vision and willingness to provide an exceptional customer experience, remain unchanged.
The received funds will be used to strengthen Creatio’s position in the global market of low-code solutions for process management and CRM, including enhancement of R&D activities and the development of a partner ecosystem in 110 counties worldwide. Investments in developing the Creatio ecosystem will reinforce the company’s standing in the global market. Among its priorities are the comprehensive support by a community of experts united around the Creatio technologies, as well as the active development of a marketplace of add-ons, connectors, and templates that enhance the capacities of Creatio’s platform and products.
- The Creatio group has been developing without attracting external investment and by its own resources.
- Today, there are 600 employees in its global team.
- Its partner network comprises over 700 organizations worldwide, including leading global integrators and consultants, such as Tata Consultancy Services, Amdocs, Virtusa, and many more.
“We see a future where everyone can automate business ideas in minutes,” said Katherine Kostereva, co-founder and CEO at 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.”
“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.
Lenna Koszarny, Founding Partner and CEO at Horizon Capital, said, “We are delighted to partner with the Creatio team. 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.”
The Creatio technologies help large and medium-sized businesses optimize and accelerate their sales, marketing, and service processes, as well as the operational processes of the organization. They are based on a low-code platform that provides custom tools to automate processes and customize software solutions, with no programming skills required.
Creatio’s products enable users to solve problems across various industries. It focuses on 24 sectors, including banks and financial institutions, production and distribution, oil and gas extraction and pharmaceutical industries, agriculture, retail, and many more. Companies receive a comprehensive solution to their business tasks: training, help in launching the system, advice on making the most of the Creatio technologies, and many other services that provide for a unique client experience and earn high marks from users.
- Terrasoft is a provider of low-code platform Creatio for business process management and CRM. It belongs to the Creatio corporate group with 600+ employees, clients, and partners in 110+ countries. According to Gartner and Forrester researches, Creatio software products hold leading positions in different IT markets.
- Volition Capital is an investment firm that manages more than $1.1 billion in assets and operates in the North American market. Volition Capital invests primarily in high-growth technology companies and focuses on those that have demonstrated rapid growth and are committed to market leadership.
- Horizon Capital is a leading investment firm in Central and Eastern Europe that manages four private equity funds (backed by over 40 institutional investors) with over $850 million assets under management and more than 25 years of investment experience. The firm is an active, value-added partner, investing in visionary entrepreneurs leading fast-growing businesses in the region.