Unqork’s $207M Series C Signals Surging Enterprise Demand for No-Code Platforms
No-code development platform Unqork has secured a massive \(207 million Series C funding round at a \)2 billion valuation, underscoring explosive enterprise demand for visual development tools. The investment, led by BlackRock with participation from HPE and others, comes just months after the company expanded its Series B to $131 million.
Why This Funding Round Stands Out
Even in a red-hot no-code/low-code market, Unqork’s rapid funding progression is remarkable:
- February 2020: Expanded Series B to $131 million
- October 2020: Closed $207 million Series C
- Valuation jumped to $2 billion in under 8 months
This accelerated funding timeline suggests strong market traction and investor confidence in no-code enterprise solutions.
Market Forces Driving No-Code Adoption
Several key factors are fueling demand for platforms like Unqork:
1. The Developer Talent Gap
“Technology groups have failed to deliver [solutions] using custom code,” explains Unqork CEO Gary Hoberman. With demand for business apps outpacing traditional developer capacity, no-code platforms enable:
- 10x more knowledge workers to build solutions
- Faster deployment without coding expertise
- Reduced reliance on scarce technical talent
2. Limitations of Existing Solutions
Hoberman notes critical shortcomings of alternatives:
- Packaged software: Lacks customization for unique business needs
- Low-code platforms: Still generate technical debt through legacy code
3. COVID-19 Acceleration
The pandemic has:
- Made digital transformation an urgent priority
- Increased government and enterprise demand for rapid app development
- Shortened sales cycles for no-code solutions
Unqork’s Growth Trajectory
The company reports impressive metrics:
- Triple-digit ARR growth for three consecutive years
- Revenue tripled in both 2018 and 2019
- On track to triple again in 2020
This growth exceeds the famous “T2D3” SaaS framework (triple-triple-double-double-double), potentially positioning Unqork for:
- Faster path to $100M ARR
- Strong IPO prospects
- Continued market leadership
Investor Perspective
Laela Sturdy of CapitalG (Unqork Series B lead) highlights:
“COVID has made modernization an urgent necessity. No-code tools enable knowledge workers — who vastly outnumber technical workers — to configure software without coding.”
What This Means for the No-Code Market
Unqork’s success signals broader industry trends:
- Enterprise validation: Major investors backing no-code at scale
- Market maturation: Solutions moving beyond SMB to complex enterprise use cases
- Competitive landscape: Room for multiple winners across verticals
With \(207 million in fresh capital and a \)2 billion valuation, Unqork is well-positioned to capitalize on the no-code revolution transforming enterprise software development.
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