Unqork bags $80m in Series B funding round led by Alphabet’s CapitalG

The scaleup Unqork has announced the closure of a $80m Series B funding round to finance expansion into new markets.

CapitalG, Alphabet’s growth equity investment fund, led the raise, which was also backed by previous investors Goldman Sachs and Summerfield Capital Management.

Founded in 2017, Unqork is a cloud-based no-code enterprise application development platform that is used by companies in the financial and insurance industries.

The new round brings the total amount invested into the startup to $110m. Unqork will use the money to expand into more markets and grow its engineering team. The team has already grown from 30 to 150 in 2019.

“We’re ecstatic to have CapitalG help power Unqork’s momentum for continued growth,” said Gary Hoberman, CEO of Unqork. “By building on our proven financial services and insurance successes, the additional funding will allow us to help deliver more of the best enterprise no-code technology and enable fully functional application development for top companies all over the world.”

Copyright © 2019 FinTech Global

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