No-Code Software Startup Unqork Reaches $2 Billion Valuation

By Colin Kellaher

Software startup Unqork on Tuesday said it raised $207 million in a Series C funding round, bringing its valuation to $2 billion.

The New York-based no-code software application platform said funds and accounts managed by BlackRock Inc. led the round, which brings total funding to $365 million and makes Unqork a unicorn, or a privately held startup valued at $1 billion or more.

New investors Eldridge, Fin Venture Capital, Hewlett Packard Enterprise Co., Schonfeld Strategic Advisors and Advent International's Sunley House Capital Management also participated in the round, along with existing investors Goldman Sachs Group Inc., Broadridge Financial Solutions Inc., Aquiline Technology Growth, World Innovation Lab and Alphabet Inc.'s independent growth fund CapitalG.

Unqork, launched in 2017 by former MetLife Inc. chief information officer Gary Hoberman, helps companies build, deploy and manage complex applications without writing their own code. The company, which counts Goldman, Aon PLC and Liberty Mutual Group among its customers, earlier this year swiftly built a digital platform to help New York City deliver tens of millions of free meals to residents affected by the coronavirus pandemic.

Unqork said it will use the new funding to expand its sales force to meet rising demand and to invest further in its technology.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

October 06, 2020 10:34 ET (14:34 GMT)

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