Leapwork, a no code automation platform, announced on 26th August that it had raised $62 million in a Series B funding round. The round was co-led by KKR and Salesforce Ventures, and existing investors DN Capital and Headline also participated. This is the highest Series B funding ever, and the company now has a post-money valuation of $312 million.
About Leapwork – No Code Automation Platform
Leapwork was started in 2015, and it helps the world’s leading companies secure and successfully implement digital transformation. It is trusted by about 300 companies around the world to automate ordinary business procedures, particularly software testing, at scale. Businesses can achieve a 10X faster time to market, a 97 percent increase in productivity, and a 90% reduction in software application faults using Leapwork.
“Since launching in 2015, we have more than doubled our growth year on year. We intend to accelerate that trajectory by investing heavily in product development and building our global presence to capitalize on the automation opportunity,” said Christian Brink Frederiksen, co-founder, and CEO at Leapwork.
The company will use the funds to expand the reach of its market-leading no code automation platform to more companies around the world. The focus of the expansion will be on the North American market, where the company just inaugurated a New York office and will be dramatically boosting its personnel headcount. It will also be used to enhance Leapwork’s worldwide expansion in other major markets, where they have recently established their presence.
“The team at Leapwork has done a fantastic job building a best-in-class corporate culture which has allowed them to continuously innovate, execute and push the boundaries of their automation platform,” said Stephen Shanley, Managing Director at KKR.
The funding will also be used to boost product development, as the company plans to expand the size of its tech hubs in Copenhagen and India over the next year. Regular business users and IT teams can adopt Leapwork’s no code automation technology more quickly and easily, allowing them to grow test automation faster which will result in short test cycles.