SA国际传媒

No-code enterprise software startup has raised $80 million in a new round of funding, the company announced Thursday.

Subscribe to the SA国际传媒 Daily

The Series B funding round was led by , Alphabet鈥檚 growth equity investment fund, and included participation from previous investors like and . The new round of funding brings Unqork鈥檚 total funding to more than , according to SA国际传媒 data.

Unqork helps businesses develop applications without using lines of code. It has a drag-and-drop interface to make building applications a faster, more efficient process. For example, one of the first solutions Unqork created for a financial services client was a robo-adviser for product selection for asset management.

Unqork counts companies like , , and among its customers. The company also recently won its first government contract and plans to expand into the real estate industry.

Unqork started with what CEO Gary Hoberman called some of the toughest, most regulated industries–financial services and insurance–as opposed to building its way up to the challenge. Financial services and insurance are also industries the Unqork executive team has experience in–Hoberman started his career in financial services and spent nearly 20 years in the industry before moving into the world of insurance, for example.

鈥淭he industries that we started with are those that not only we came from and we understand the pain points…it鈥檚 those that are still of highest manual operation. Thousands and thousands of people who do nothing but manual operation,鈥� Hoberman said.

Unqork can take over the mundane tasks and free up those technologists鈥� time so they can create value doing other things.

The company raised its $22 million in April. This year has been one of fast growth for the company, with Unqork growing its workforce from 30 employees at the beginning of the year to now more than 150. Turning to financial metrics, the company鈥檚 annual recurring revenue grew at 鈥渁 significant triple-digit rate鈥� over the past year.

Illustration: .