Low code/no code platform firm Genesis bags $200 million in a Series C round
Globally trusted low-code, no-code company bags a huge funding of $200 million in its Series C funding round. The IT delivery strategy company, Genesis said that it will use the newly raised funds for expand its developer community and grow the platform as a whole. The Series C funding round for Genesis was led by Tiger Global and was supported by Insight Partners, Google Ventures, Accel, Tribeca Early Stage Partners, Illuminati Financials, and Salesforce Ventures.
The $200 funding to be used for expansion
The development platform built especially for financial markets players said that the funds are to be used for further expansion of the Genesis platform, its developer community, and Genesis’s buy-to=build model. This is a great model that enhanced operational efficiency and empowers IT teams across the globe by offering them a platform that enables them to accelerate and streamline development of software apps, customization of 3rd party solutions, and system integrations.
Stephen Murphy, Chief Executive Officer Genesis said that “The Genesis platform is already trusted by leading institutions from Citi, who is also a strategic investor from previous funding rounds, and ING to Alliance Bernstein and B3 to speed innovation and accelerate delivery of purpose-built financial markets applications”.
Murphy added that the company has worked hard to become the primary solution for IT deliveries across financial markets, and that Genesis is also increasing its focus as well as commitment towards its developers community. In the next coming months, with the latest round of funding, Genesis expects to welcome thousands of developers and support them in their “build-to-buy” journeys as they continue to expect their international network of institutional partners.
The Genesis low code, no code platform seamlessly integrates with an organization’s technology ecosystem, eliminating the need to invest any resources into new systems. Genesis’s unique buy-to-build approach allows firms to deploy apps with scale and speed which provides them with a strategic advantage via rapid technology development.
Partner at Tiger Global, John Curtius said “The rise of low-code development as a centerpiece of every IT stack is undeniable – the market is predicted to reach $21 billion by 2022 – but what Genesis represents is clearly the next-generation of low code/no code path forward for the highly complex, highly regulated, and extremely valuable financial markets.”
Curtius believes that Genesis has a proven track record of creating enduring, world-class low-code/no-code platforms and solutions, which makes them the perfect complement to Tiger Global’s exciting portfolio of investments. He further added that Tiger Global Management looks forward to supporting Genesis as it continues to go from strength-to-strength.
About low/no code platform provider Genesis
Headquartered in New York, Genesis is the leader of financial institutions “buy-to-build” of the world. With Genesis, developers can power application development in weeks, not years. Its platform has numerous capabilities, has incredible speed and performance, and possesses the flexibility that today’s financial institutions require to get a competitive edge.
Created with some of the most modern technologies, Genesis has an event-driven architecture, many internal as well as external APIs, and is ready to handle the performance and scalability requirements of the world’s pioneer financial markets organizations.
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