附近上门

Boston-based has received its first outside funding, a $68 million minority stake the company hopes to use to allow its customers to adapt to the ever-changing business world.

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The raise was led by growth equity firm , with participation from , a private equity firm investing in Europe.

Creatio, a customer relationship and process management company, decided to take in its first capital after seeing 鈥渞apid exponential鈥� growth and realizing its highest net retention rate in its history at 122 percent.

鈥淥n the heels of this rapid growth we decided to raise capital for the first time,鈥� said co-founder and CEO .

Big market, big players

Creatio鈥檚 low-code platform is based on a business process management engine and marketing, sales and services management applications built on top. The low-code aspect allows Creatio鈥檚 thousands of customers to customize the platform quickly and add new processes as the business world changes, Kostereva said.

While the market is big 鈥� the low-code market has been estimated by to grow to more than $187 billion in the next decade 鈥� there also are large competitors, Kostereva said. CRM providers such as , , 1 and Dynamics CRM all compete in the market, but Creatio鈥檚 low-code platform allows even non-developers to tailor the platform up to 10 times faster, Kostereva said.

鈥淐reatio is executing against a big vision 鈥� to create a world where everyone can automate business ideas in minutes,鈥� said , managing partner at Volition Capital.

Bootstrapped

Hurwitz said the company鈥檚 bootstrapped roots since being founded in 2014 also made it an attractive investment.

鈥淐reatio has already scaled tremendously as a founder-owned, bootstrapped company, which is something we look for as growth-equity investors,鈥� he said.

Kostereva said she deliberately held off on raising money until the 600-person company had proven its platform and business in the market through its numbers. Now that it鈥檚 been able to do that and raise capital, the company will focus on execution, especially expanding on its 700-plus partner ecosystem in 110 countries.

鈥淥ur goal is to grow as fast as we can,鈥� she said. 鈥淭his is a huge market.鈥�

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