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Read the pitch deck that helped Crowdbotics, a platform for developing apps with no coding experience, differentiate itself in a crowded space and land a $22 million Series A round
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- Crowdbotics raised a $22 million Series A round, bringing its total funding up to $28 million.
- The startup relied on quantitative data and customer success stories to win funds, the CEO says.
- Delivering on those metrics will be key to Crowdbotics’ future funding, according to the CEO.
Low-code and no-code tools are lauded for their ease of use, turning anyone into a software developer with no coding experience required.
It’s a hot market, set to reach $190 billion by 2030. But “the dirty secret in all the hype is that everybody hates low code,” Anand Kulkarni, CEO of no-code app development startup Crowdbotics, tells Insider.
The startup, whose platform allows organizations to build entire apps without needing to know how to code, actually used the technology’s wavering reputation to hook its investors. Crowdbotics sold itself as offering the ease of no-code without the downsides, like getting locked into a platform’s tech stack and the lack of customization. Instead of storing code on its platform, Crowdbotics stores the code in open source repositories like GitHub.
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And it worked: Crowdbotics announced on Thursday a $22 million Series A round led by Jackson Square Ventures, bringing its total funding up to $28 million at an undisclosed valuation. The startup sold its vision by relying on quantitative data and playing up its customer success stories, according to Kulkarni.
Defense and healthcare are Crowdbotics two biggest industries, with customers ranging from the US Air Force to smaller startups like Solace, an app to guide users through transitioning genders. Overall, Crowdbotics customers raised a total of over $100 million in funding of their own since Crowdbotics was founded in 2016, showing investors “how much economic activity is getting generated by Crowdbotics-spawned companies,” Kulkarni said.
It’s a pitch that Crowdbotics plans to use as it keeps raising capital down the line. It demonstrates “that we are implicitly able to share in the market upside with companies whose products are being built on the platform” through quantitative figures like growth index and market demand, Kulkarni said.
“Being able to deliver on those promises meant that it was a pretty safe bet from what investors saw,” and Crowdbotics plan to keep selling investors on the numbers as a key part of its strategy, Kulkarni said.
Here’s the full pitch deck Crowdbotics used to raise $28 million from investors:
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