Creatio Raises $200 Million at $1.2 Billion Valuation for No-Code CRM and Workflow Platform

Creatio, the no-code CRM and workflow automation platform, has announced a significant funding round of $200 million led by Sapphire Ventures. StepStone Group and current investors Volition Capital and Horizon Capital also participated in this round.

Addressing the Need for Knowledge Workers

The problem that Creatio is solving is addressing the need of knowledge workers. As co-founder and CEO Katherine Kostereva explained, "We’re talking about 1.7 billion people in the world who we want to help automate their workflows with the power of no-code."

The Rise of No-Code Tools

As the demand for software continues to increase, there is a growing need for tools that can help businesses automate their processes without requiring extensive coding knowledge. Creatio’s no-code platform is designed to cater to this need, allowing users to create and deploy applications quickly and easily.

What Sets Creatio Apart

Creatio’s unique architecture was built with enterprise-scale in mind, making it a formidable competitor to established players like Oracle, Salesforce, Microsoft, and SAP. According to Kostereva, being smaller allows the company to be more agile than its larger competitors.

Riding the AI Wave

In addition to its no-code capabilities, Creatio is also leveraging artificial intelligence (AI) to enhance its platform. The company has introduced a copilot for its CRM users and no-code creators, which includes features like helping sales teams score opportunities or generate emails, as well as assisting in designing workflows and converting text-based requirements into business rules.

Machine Learning-Based Tools

Kostereva emphasized that machine learning-based tools have long been part of Creatio’s toolset. However, the introduction of generative AI has allowed the company to take its AI capabilities a step further.

Current Growth and Future Plans

Creatio is currently growing at an impressive 50% year-over-year. Given that the company was bootstrapped for the longest time, it’s in its DNA to be capital efficient. However, with this funding round, the team sees an opportunity to double down and expand quickly.

Partner Ecosystem

The partner ecosystem plays a significant role in Creatio’s business, driving half of its revenue. The company plans to build out its AI capabilities, core no-code features, and partner ecosystem further.

Quote from Sapphire Ventures

"We are thrilled to partner with CEO Katherine Kostereva and the entire Creatio team," said Rajeev Dham, managing director at Sapphire Ventures. "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 personalize applications for a variety of use cases across CRM, case management, and workflow automation."

Key Takeaways

• Creatio raises $200 million in funding round led by Sapphire Ventures
• The company is addressing the need of knowledge workers with its no-code platform
• Creatio’s unique architecture sets it apart from competitors like Oracle, Salesforce, Microsoft, and SAP
• AI capabilities are a key differentiator for the company
• The partner ecosystem drives half of Creatio’s revenue

About the Author

Frederic Lardinois is an editor at TechCrunch, covering enterprise, cloud, developer tools, Google, Microsoft, gadgets, transportation, and more. He has been writing for TechCrunch since 2012 and founded SiliconFilter before joining TechCrunch.

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