Brazilian tech startup Pipefy, whose low-code platform makes it easy for anyone to develop software, has raised US$75 million in series C funding, led by Japanese investment conglomerate Softbank.
Founded in 2015 in Curitiba, Pipefy is a workflow management services provider. Businesses use their low-code or no-code platform to centralize data and automate some functions, such as finance, human resources, customer service, purchasing, and marketing.
Thanks to the growing demand for digital transformation services and software development, Pipefy is growing at a rapid speed.
Both its recurring revenue and headcount have doubled over the past few months alone, with the number of corporate customers reaching 4,000, according to Techcrunch.
Its clients include the likes of GE Healthcare, Lacoste, Magalu, electric truck maker Rivian, and Nubank, among others. It has employed around 500 people, with the majority of them based in the South American country.
“Low-code tools are the solution for overworked IT organizations struggling to meet the demand of the dramatic shift to a distributed workforce,” says Ananth Avva, President and COO at Pipefy.
“Our low-code approach is meeting the needs of distributed workforces around the world,” stated the company’s CEO Alessio Alionço.
Pipefy has recently shifted its headquarters to the US Silicon Valley, but a majority of its R&D centers and workforce are still based in Brazil.