Here’s a tongue twister: Companies that code no-code code for non-coders are trending.
Webflow — a software startup that gives businesses tools to build no-code websites — announced it raised $140m, the latest in a series of massive funding rounds for companies in the space.
In a news release, CEO Vlad Magdalin said that after a failed Kickstarter and rejection from Y Combinator, Webflow now has 2m users and over 100k customers across 190 countries.
He described the funding as “courage capital”…
… or capital that will invest in areas that won’t benefit short-term revenue, such as enterprise products, support, and recruiting.
Now valued at $2B+, Webflow doubled its customer base in 2020 and ended the year cash-flow positive.
Per TechCrunch, Webflow’s plan is to shift focus toward growing its enterprise customer base, which currently accounts for just 5% of business. Magdalin expects to grow this by a “factor of 10” in 2021.
Webflow is moving fast because competition is fierce
Webflow is hardly the only no-code company to receive massive funding in recent months:
- In July, UiPath raised $225m at a $10.2B valuation to build out its “robotic process automation” platform
- In October, Unqork secured $207m at a $2.1B valuation to help companies build complex no-code applications
These impressive numbers show that if one thing’s for sure, it’s that the next generation of leading websites, apps, and digital tools could likely be built free of code.