Appsmith Raises $41M in Series B Funding

AppsmithSan Francisco, CA-based open source low-code software for developers that allows them to create internal tools has raised $41m in Series A funding.

Insight Partners was the lead investor. Other investors included Accel, Canaan and OSS Capital. Angel investors also participated, including Jeff Hammerbacher, cofounder of Cloudera and Abhinav Andthana, cofounder of Postman.

The company plans to use the funds to build out its open-source software and provide support services, as well as a paid version with additional security features for enterprises.

Led by Abhishek Nayak, co-founder and CEO, Appsmith provides open-source low code software that helps developers build internal and CRUD (create, read, update and delete) type applications within hours. Pre-built components are used to build the user interface. The business logic is connected using application programming interfaces (APIs). Finally, the software engineer tests and deploys a web app where users can authenticate via a dashboard.

Open source software was introduced just two years ago. It has been downloaded more than 10,000,000 times and is currently used by over 10,000 organisations.

The company released more than 150 enhancements last year. These included major features such as JS Editor, version control and 30+ new widgets. There were 184 new features. Appsmith now boasts more than 18,000 members and 192 contributors.

FinSMEs

23/06/2022

Leave a Comment