Unqork Inc. closed a funding transaction on December 28, 2020 that raised $258,083,771. The company issued a total of 235,655 shares in the transaction. The deal was completed in two tranches, with the second and final tranche issuing 46,644 shares and bringing in $51,083,403. The fundraising was executed via share issuance. The transaction included participation from 38 investors. No other product, operational metrics, or future-planning details were disclosed in the article. Unqork offers a no-code platform that enables enterprises to build business applications without traditional software development. The company targets large organizations and has seen accelerating demand as firms pursue digital transformation and governments sought solutions during COVID-19. Unqork reports expansion in ARR from existing clients and says sales cycles have shortened, aiding customer adoption and upsells. The firm says it has been growing ARR at a triple-digit rate for the third consecutive year and tripled its top line in 2018 and 2019, on track to repeat in 2020. Management raised revenue targets before the pandemic and has maintained that guidance through 2020. The new capital positions Unqork to continue scaling its platform and pursue further enterprise deployments. Unqork provides a no-code application platform that allows large enterprises to build, deploy, and manage complex applications. Led by founder and CEO Gary Hoberman and launched in mid-2017, the company has served customers including Liberty Mutual, John Hancock and Manulife, with recent engagements at HSBC, Pacific Life and Maimonides Medical Center. It closed an additional $51M to complete a $131M Series B round led by CapitalG, with participation from existing investor Goldman Sachs and new backers Aquiline Technology Growth and World Innovation Lab (WiL). Unqork plans to use the funds to grow its sales and marketing teams across the U.S. and internationally and to invest further in its engineering team. The company will continue rolling out partnerships with large services firms and systems integrators including Cognizant, Deloitte, EY, KPMG and Virtusa, and expand its community by hosting large-scale events such as No-code on Tour and its first user conference, Unqork Live, on May 6, 2020 in New York City. Unqork is a cloud-based no-code enterprise application development platform that combines a no-code interface with enterprise-grade software functionality. The platform is built for enterprise customers and is used by companies including John Hancock, Goldman Sachs, Careerwise, and Liberty Mutual to build industrial-strength applications. Founded in 2017 and led by CEO Gary Hoberman, the company is based in New York City. Unqork intends to use its new funding to expand operations into additional markets and verticals and to grow its engineering team. Financially, the company closed an $80M Series B and has raised more than $110M in total funding to date. Unqork is a no-code, software-as-a-service platform that digitizes the entire client lifecycle for financial services and insurance organizations. The platform uses a drag-and-drop interface to create custom client onboarding and servicing applications that can be implemented within weeks. Its patent-pending technology supports advanced calculations, decisioning, UI design and workflow for risk assessment layered on top of legacy IT systems. Unqork serves broker-dealers, asset managers, wealth managers, banks, and insurers across life & health, property & casualty, and specialty insurance. The company intends to use the funds to accelerate business growth and invest in capabilities that further solidify its position in the no-code space.

Total raised

$411M

Funding rounds

5

Latest round

Equity

Latest activity

Dec 2020