ProcessMaker, a Durham maker of no-code automation software, raises $45M
ProcessMaker, a Durham-based technology firm that creates no-code automation software, said Friday that it has raised $45 million from Aldrich Capital Partners, a private-equity firm out of Virginia.
It’s the first time the Durham company has taken on money from investors since it was founded by Brian Reale and Bobby Vernon in 2008.
ProcessMaker, which is headquartered in downtown Durham, has grown to 140 employees since then.
The company’s customers include banks, manufacturers and higher-education institutions, which use its software to automate routine tasks.
For example, the company says that some universities have used it to automate things like grade changes and transfer of credit approvals.
“At ProcessMaker our mission is to make every second count,” Reale, the company’s CEO, said in a statement. “This resonates in everything we do. At the most obvious level, it means empowering organizations to make their business processes more efficient. On a deeper level, it means giving customers a way to quickly build and deploy beautiful, engaging digital business processes that users love.”
The company’s software is open-source, meaning it’s made freely available for modification, and it has been used across the world.
ProcessMaker’s no-code focus is also a feature that has become more attractive to investors and companies in recent years. No-code apps make it easier for people without a development background to create applications.
In January, Cary-based SAS Institute bought a no-code startup that makes it easier to use its analytics software.
“We love low-code process automation and fully expect hundreds of market verticals to be transformed in the next decade,” Aldrich Capital’s managing partner, Mirza Baig, said in a statement. “(W)e expect ProcessMaker to continue to be a leader in this huge opportunity.”
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