The funding will help Appsmith support software development. Here are the top-line bullets you need to know.
Appsmith, a low-code business app building platform, has raised $41M in a Series B. The round drew participation from Accel, Insight Partners, Canaan Partners, and OSS Capital, among others.
How’s the company performing?
- California-based Appsmith helps businesses quickly build internal applications.
- The company currently caters to over 10K organizations, up 15x year-over-year. Some of its clients include IBM, Swiggy, AWS, Orange, and FalconX.
- Appsmith offers a suite of more than 45 interface elements, and its platform has been downloaded over 10M times.
- The company is currently supported by a team of 95 employees spread across 16 countries, including India, the US, and Nigeria.
Why does the market matter?
- The global no-code development platform market is expected to reach $68.1B by 2028, growing at a CAGR of 24.2%, according to Emergen Research.
- The increasing push for business digitization amid the ongoing developer shortage is contributing to market growth.