The funding will help Reprise accelerate the growth of its platform. Here are the top-line bullets you need to know.
Reprise, an enterprise-focused product experience platform, has raised $62M in a Series B. The round drew participation from WndrCo, ICONIQ Growth, Glasswing Ventures, and Bain Capital Ventures, among others.
How’s the company performing?
- Massachusetts-based Reprise’s data and analytics-powered platform helps software companies create product demonstrations and tours. The platform enables sales and marketing teams to create immersive, lightweight experiences of their products.
- The company also offers an API solution that helps companies extract data from its platform and combine it with data from other platforms to gain customer behavior insights.
- Since its inception in 2020, Reprise has witnessed more than 900% year-over-year ARR growth and 700% year-over-year growth of its employee base.
- It caters to companies like Cloudera, Outreach, ZoomInfo, Pendo, Medallia, Icertis, and Gainsight, among others.
Why does the market matter?
- The low-code development platform market is projected to expand at a CAGR of 31.3% to reach a value of $190.8B by 2030, according to Prescient & Strategic Intelligence.
- Increased demand for business digitization, strict government regulations, reduced dependency on IT professionals, rising need for workflow automation, and higher use of low-code development tools are some of the key factors behind the growth of the market.
- The Covid-19 pandemic has led to increased demand for remote work functions and a surge in remote software development, further fueling the market’s growth.