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Salesforce challenger Creatio raises $200 million, becomes 'unicorn'

Economic Times

Economic Times · 1y ago

Salesforce challenger Creatio raises $200 million, becomes 'unicorn'

Low-code software platform Creatio has raised $200 million in a funding round led by Sapphire Ventures, bringing its valuation to $1.2 billion. The company, which competes with Salesforce, has seen its revenue grow by 50% annually. Creatio's low-code automation platform allows for the automation of workflows, providing flexibility and control for users. The funding will be used to accelerate product development, with a focus on using artificial intelligence for marketing and sales automation. Creatio serves a range of enterprises, including AMD, Coca Cola, and MetLife.

Related News

French AI startup Mistral AI raises 385 million euros

Economic Times

Economic Times · 1y ago

French AI startup Mistral AI raises 385 million euros

French AI startup Mistral AI has raised 385 million euros ($414 million), making it one of Europe's top AI companies. This latest funding round, led by Andreessen Horowitz, values Mistral at 2 billion euros, making it a French tech unicorn. Mistral offers open-source language models fed by public data, similar to competitors like OpenAI. Backed by American tech giants including Salesforce and Nvidia, Mistral is seen as a potential rival to ChatGPT. The emergence of European AI players coincides with the EU's efforts to regulate the sector while fostering innovation.

Unicorn startup Zepto raises another $31.25M in Series E round

IndianStartupNews

IndianStartupNews · 1y ago

Unicorn startup Zepto raises another $31.25M in Series E round

Mumbai-based quick commerce startup Zepto has raised $31.25 million in a Series E funding round led by Goodwater Capital and Nexus Venture Partners. Zepto plans to go public by 2025 and became a unicorn after raising $200 million in funding. The startup promises to deliver groceries in under 10 minutes and currently holds about 20-21% market share in the quick commerce sector. However, Zepto's financial numbers show significant growth in revenue but also indicate high net losses, posing challenges for achieving profitability.

Monzo, the UK challenger bank with 9 million customers, raises $430 million

TechCrunch · 1y ago

Monzo, the UK challenger bank with 9 million customers, raises $430 million

London-based fintech company Monzo has raised $430 million in late-stage funding, confirming its post-money valuation of $5 billion. The funding, led by Google's CapitalG and GV, along with HongShan Capital and existing investors, marks a significant achievement given the decline in startup funding in Europe. Monzo, which provides digital-first UK current accounts and financial products, had faced challenges in the past, including a failed expansion into the US and a down round funding in 2020. However, its performance has since improved, with the company now boasting nine million retail customers and profitability achieved in March 2023.

Logistics Unicorn Porter Gets CCI Nod for Kedaara Capital’s Investment

OutlookIndia

OutlookIndia · 1m ago

Logistics Unicorn Porter Gets CCI Nod for Kedaara Capital’s Investment

Kedaara Capital has received approval from India's Competition Commission to acquire a stake in Porter, a recently established unicorn in the hyperlocal logistics sector. The investment will be made via Kedaara's entities, bolstering Porter's expansion efforts. This decision follows Porter's successful $200 million Series F funding round, elevating its valuation to approximately $1.2 billion in 2025, making it the third logistics unicorn in India for that year.

How much money has Zepto, founded by two dropouts at age 19, raised so far?

Inshorts · 1y ago

How much money has Zepto, founded by two dropouts at age 19, raised so far?

Quick commerce startup Zepto, founded by Stanford dropouts Aadit Palicha and Kaivalya Vohra at age 19, raised $60 million in October 2021. Later in December 2021, it raised $100 million in Series C, followed by $200 million in May 2022. Zepto became a unicorn in 2023 after raising $235 million. It has now raised $665 million at $3.6 billion valuation.

Rapido FY24: Losses Decline 45% YoY To INR 370 Cr

Inc42 · 8m ago

Rapido FY24: Losses Decline 45% YoY To INR 370 Cr

Ride-hailing company Rapido reported reduced losses for FY24 due to cost management and optimization. The company saw an increase in orders and Gross Order Value (GOV) for the fiscal year. In September, Rapido became a unicorn after securing $200 million in a Series E funding round.

Spain's Multiverse raises $217 million for compressing AI models

Economic Times

Economic Times · 1m ago

Spain's Multiverse raises $217 million for compressing AI models

Spanish AI firm Multiverse Computing has secured €189 million ($217 million) from investors including Bullhound Capital, HP Inc, Forgepoint Capital, and Toshiba to advance its AI model compression technology. This innovation reduces large language model sizes by up to 95% without performance loss, cutting costs by 80%. The technology mimics quantum systems without requiring quantum computers. With this funding, Multiverse becomes Spain's largest AI startup, joining top European AI startups.

Salesforce buys Moonhub, a startup building AI tools for hiring

TechCrunch · 2m ago

Salesforce buys Moonhub, a startup building AI tools for hiring

Salesforce has not technically acquired the startup Moonhub; instead, Moonhub is shutting down with some team members joining Salesforce. Moonhub, known for its AI tools for hiring, had previously benefited from Salesforce’s investment. Moonhub's integration into Salesforce aligns with Salesforce's AI strategy, following its recent acquisitions. Founded in 2022, Moonhub had raised $14.4 million and served numerous clients, including Fortune 500 companies, before its closure.

ETtech Deals Digest: Startups raise $568 million this week, up six-fold on-year

Economic Times

Economic Times · 3m ago

ETtech Deals Digest: Startups raise $568 million this week, up six-fold on-year

Startups garnered $568.2 million from May 3 to 9, substantially up from $95.5 million during the same period last year, and three times more than last week’s $194.7 million. Despite the increase, deal count decreased from 51 to 23 compared to last year. Notable deals included $218 million for PB Healthcare Services and $200 million for Porter, marking its entry into the unicorn club. Funding also went to companies like Routematic and Celcius Logistics across various round stages.

Darwinbox elevates CTO Vineet Singh to cofounder

Economic Times

Economic Times · 11m ago

Darwinbox elevates CTO Vineet Singh to cofounder

Hyderabad and Singapore-based SaaS unicorn Darwinbox has promoted its chief technology officer, Vineet Singh, to co-founder status. Singh, who has experience in the consumer and SaaS tech industries, will play a key role in driving the company's technology strategy forward, particularly in the areas of artificial intelligence and delivering contextual intelligence to customers. Darwinbox provides human resources services, including hiring and onboarding, attendance management, and employee management. The company achieved unicorn status in January 2022 after raising $72m in funding. Darwinbox is backed by investors such as Microsoft, Salesforce Ventures, and Lightspeed.

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