The Covid-19 outbreak has heightened the urgency for businesses of all sizes to speed their digital transformation initiatives and increase cloud application usage. Those who presented solutions fast to adapt and generate rapid innovation are emerging as industry leaders due to the pandemic.
$48M Series C
Meanwhile, Celigo, the Integration Platform as a Service (iPaaS) provider, has raised $48M in Series C funding to improve end-to-end business automation for mid-market enterprises. OMERS Growth Equity led the round, which was joined by NewSpring Capital. With this, the total funding raised by the company would be around 76M.
The proceeds will be used to expand the company’s global reach and boost its go-to-market capacity.
“For far too long, the modern iPaaS’s promise has remained unfulfilled. “While legacy providers connect cloud-based business apps, the automation of business processes that employ those applications has not improved,” Jan Arendtsz, Celigo’s founder and CEO, explained. “With the help of our investors, Celigo will assist our customers to achieve runaway growth, cost control, and exceptional customer experiences by ensuring that every process — at every level of the organisation — can be automated in the most efficient way from a single Platform.”
Headquartered in San Francisco with satellite offices in the Netherlands, India, and the Philippines, Celigo is the iPaaS provider that was founded in 2011 and it offers pre-built business process automations that are powered by embedded business logic.
How does Celigo function?
The business logic enables IT and non-IT users to influence the behaviour of numerous downstream flows using predefined parameters, resulting in the most efficient automation of business operations. The business logic was created based on best practices lessons learned from thousands of customer deployments and tens of thousands of procedures that have been implemented. Artificial Intelligence improves the inherent logic even further.
The company claims that its platform also enables IT teams to manage business process automations, error handling, compliance with global security and privacy standards, and full reporting and analytics via a centralized dashboard, while delegating control of each automated business process to the line of the business group closest to it.
According to Gartner, Inc.’s latest prediction, “global end-user spending on public cloud services is anticipated to climb 23.1 percent in 2021 to total $332.3B, up from $270B in 2020.” While another study showed that “the worldwide enterprise software industry will expand 9 percent to over $535B in 2020, reaffirming its standing as the most dynamic and fastest-growing IT sector.” The large growth in spending and adoption is directly related to a shift in how people work and the need to streamline operations to accommodate new methods of conducting business.
“Automation of the modern enterprise needs a next-generation iPaaS that is user-friendly while also offering best practices and governance at cloud scale,” stated Mark Shulgan, Managing Director and Head of OMERS Growth Equity. “With the combination of a robust integration engine and the usability of a modern SaaS application, Celigo has established itself as a market leader, enabling enterprises to be more agile and develop faster.” “We are happy to invest in Celigo and passionately support its efforts to continue to pioneer the future of cloud-based application integration,” he added.
Meanwhile, Celigo goes head to head with other global iPaaS leaders including Zapier, Workato, Boomi and more.