The money came from from Volition Capital, a US-based growth equity firm, and Horizon Capital, a Ukrainian private equity firm, which will get a minority stake.
This capital injection will allow the company to accelerate its growth: Creatio will invest in R&D, global marketing, sales expansion, and support its network of partners in 110 countries worldwide.
Creatio intends to strengthen its “leadership position in the projected $187+ billion low-code platform market.”
“Our vision is a world where everyone can automate business ideas in minutes,” said Katherine Kostereva, Creatio’s Ukrainian CEO and co-founder. “Now is a critical time for digital and IT leaders to leverage tech and transform their organizations into low-code companies. This investment will allow us to keep building toward the vision of creating the new world, where any company can automate and change their business processes at speed and scale.”
Since its founding in 2013 by Kostereva (it was then known as ‘BPM Online’), Creatio has experienced organic growth without previous external capital. The startup has established its headquarters in Boston. The company’s team consists of more than 600 people worldwide, with more than half of the engineers located in Ukraine.