For long, no-code and low-code development suites have been used mostly by marketers and analysts. Now, the winds are shifting as these suites are finding a place in DevOps and security. The functionality offered by low-code solutions has come a long way in recent times and a few VCs predicted many use cases that would spur the demand for this technology.
WeLoveNoCode, a no-code marketplace headquartered in San Francisco, has announced that it raised $3 million in funding. The investment round was led by Mantis Venture Capital (invested in a US outdoor living brand Outer) alongside participation from K5 Global, Liquid2, CapitalX, Gaingels and Abe Burns.
WeLoveNoCode uses the subscription monetisation model and has two offices in the United States and the UK. The startup plans to invest new funds to strengthen its market position.
Responding to TFN in an exclusive questionnaire, Nik Shevchenko, CEO and founder of WeLoveNoCode said, ”We will be spending our investment on scaling. We will spend most of the financing on acquiring new no-code developers and hiring world-class talent into our internal team.”
Regarding the investment, Shevchenko said, “We have many great investors including MantisVC, not one. We firstly met these wonderful guys at MantisVC through an introduction to one of their portfolio companies founded by Ex-Snapchat Product Directors. Most of the other investors got in touch with us through introductions as well after hearing about our growth rates.”
How did WeLoveNoCode evolve?
The market size of the global Low Code Development Platform is projected to reach almost $400 billion by 2027 and reach 30.9% CAGR during 2021-2027. By 2024, 65% of all apps in the Western countries will be created by no-coders, and over half the IT services will be provided by alternative programming platforms. Some of the projects developed by the coders employed through the platform include a B2B online community Revgenius and Near.org.
WeLoveNoCode was founded in 2020 by Nik Shevchenko, who has built over 15 no-code apps. In 2019, he went through 500 startups to help companies build products with no-code.
Shevchenko further stated, “I built my own no-code app and launched it by earning $5,000 within the first day. The app was built within 2 weeks. Understanding the power of no-code tools I started to help my friends to build no-code apps for them and this is how WeLoveNoCode was born. Starting as an agency and becoming the biggest no-code marketplace in the world.”
What problem does WeLoveNoCode solve?
WeLoveNoCode solves the problem of vetting the best 1% of no-code developers in the world and making sure they are hired by great companies. Mostly, the service is used by Product Managers in scaling companies who are tired of waiting for software developers to deliver a simple landing page or an MVP.
A no-code development platform is a tool for building software applications without coding. It is a popular and promising alternative to traditional software development for non-technical business users, which hopes to build their own full-fledged applications. With this, users can meet the demands of faster application delivery, building business, web and mobile applications on their own.
WeLoveNoCode provides a robust matching process and a fixed monthly fee for no-code development of products starting from $2.5K). Users just have to tell them what they want to build and use the 7-day trial priced at $9. The platform matches them with the right no-code experts and agree on a tentative timeline and roadmap for a fixed monthly fee. Users can track their daily progress and stay connected to the no-code team via the WeLoveNoCode platform.
He added, “One of the biggest challenges so far is hiring talent. While having a very young team it became hard for us to find other great people through network (simply because we don’t have a huge network). However, this year alone we plan to add +100 people into our team and to grow by 3x times team-wise and 8x times revenue-wise.”
On the competitors front, he said “The main difference from the competitors is that we allow companies to hire 1% of the best people by providing very detailed information on each person, including personality testing, English testing, detailed portfolio and testing for hundreds of different no-code tools.”
Intends to help communities
The largest no-code marketplace that connects 5,000 companies and 36,000 no-code developers. It launched an app that connects people in need with those who can help in communities worldwide. WeLoveNoCode expects to earn $24 million in ARR within a year. It came forward to help Ukrainian citizens by donating 10% of its margin income in March to help Ukrainians in need.
WeLoveNoCode encourages people in need to fill out the contact information form from here if they need assistance in Ukraine or want to help.