Chris Wanstrath, CEO at GitHub, once said, “The future of coding is no coding at all.”
In recent years, the no-code movement is evolving rapidly, helping numerous businesses escape the software developer skills shortage.
According to the Forrester survey, the no-code development platform market will grow from $3.8 billion (approx £2.7 billion) in 2017 to $21.2 billion (approx £15.3 billion) by 2022.
A no-code platform allows non-technical users to build an application without ever writing a line of code.
At present, there are lots of no-code platforms that can help users build and automate their next startup. And one such platform is Bryter.
Headquartered in Berlin, Bryter is the no-code service automation platform that enables business experts to build digital applications.
Raised £48 million
The German company has now raised $66 million (approx £48 million) funding in the Series B round.
The investment round was led by New York-based investment firm Tiger Global, with participation from existing investors Accel, Dawn Capital, Notion Capital, and Cavalry Ventures.
A group of leading enterprise software executives and entrepreneurs also joined the round including Amit Agharwal, CPO of DataDog, Lars Björk, former CEO of Qlik, Ulf Zetterberg, founder and CEO of Seal Software, and former ServiceNow global SVP James Fitzgerald.
The latest funding round comes eight months after securing funds in the Series A round, bringing the total capital raised to date to over $90 million (approx £65 million).
The capital will be used to accelerate the company’s international expansion, particularly in the US.
Truly no-code platform
Founded by Michael Grupp and Micha-Manuel Bues, the truly no-code platform gives enterprise teams the tools to build self-service applications without programming.
Bryter is especially geared to professionals in law, compliance, accounting, and finance, who use the software to automate complex, recurring decisions and scenarios.
Notably, the platform also provides the power necessary for tasks and processes with complex reasoning and demanding use cases.
Over 2000 applications deployed
Its customers range from consumer-facing businesses like McDonald’s and Telefónica, through leading professional service firms PwC, KPMG, and Deloitte in Europe, to banks, healthcare, and industrial enterprises.
It’s worth mentioning that 25% of their customers in the UK, especially leading UK Professional Service Firms, Corporates, and Banks including TechData, Taylor Wessing, Simmons&Simmons, and Ashurst.
Since its launch, over 2,000 business applications and workflows have been deployed on the platform.
Bryter’s CEO and co-founder, Michael Grupp said: “Bryter is all about helping organisations streamline their service, internally and externally. We’re excited to have the customer validation to be able to raise significant funding so soon after our last round, to take our vision to more customers, particularly in the world’s largest software market, the US. We want more business people to learn about how we can change their working lives and we’re pleased to have the backing of leading investors and industry greats to take Bryter to more organisations.”
John Curtius, Partner at Tiger Global, said: “Bryter has all the characteristics of a top-tier software company: a high-quality product that solves a real customer pain point, a large market opportunity, and a world-class founding team. The feedback from Bryter’s customers was resoundingly positive in our research, and we are excited to see the company reach new heights over the coming years.”
Evgenia Plotnikova, Partner at Dawn Capital, said: “Bryter has seen explosive growth over the last year, signing landmark customers across a large number of sectors and use cases. This does not come as a surprise. In the pandemic-affected world, digitalisation is no longer a “nice to have”; it is an imperative. That means that more than ever, to drive automation at scale throughout the modern enterprise, every employee has to become a “citizen developer”.
Luca Bocchio, Partner at Accel said: “With Bryter, business experts get the benefit of both simplicity and power. The platform’s exceptional user experience enables people with no coding skills to just drag and drop their knowledge to create an app that incorporates their complex reasoning and knowledge in a matter of hours.”