Betty Blocks, a leading enterprise no-code application development platform for citizen development, announced it has raised $33 million in funding. The round was led by European Private Equity and Venture Capital investor SmartFin Capital. Also participating were existing investors Morse Investments and NIBC Bank.
Betty Blocks enables fusion teams – people from the business-side and IT – to quickly build software together in order to speed up innovation and improve time-to-market. Betty Blocks’ customers include Deloitte, The Salvation Army, The Dutch National Police, Clifford Chance, TaskUs, and Anglian Water.
Betty Blocks will use the funding to expand its operations and further develop the platform. Plans include making the platform even easier to use, enhancing the citizen development governance features, introducing more templates, and enriching its Block Store with more standard integrations.
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Founded in 2016, the Betty Blocks platform helps IT and the business side work together to build business-critical applications. Recognized by industry analysts for its versatility and ease of use, the Betty Blocks platform is well suited to enterprises that are looking to speed up application development by empowering a new breed of developer. These business developers (or citizen developers) are employees that may not necessarily have programming knowledge and expertise, but understand processes and data. With the help and assistance of IT, they build software solutions that immediately impact their work and the organization’s bottom line in a secure, sustainable, and governed way.
By radically changing the approach to software development, enterprises are more agile, improve competitive value, and increase employee engagement. New-breed developers use templates and no-code building blocks to build apps without coding, connect apps to the existing enterprise application landscape, and provide the IT department with more control over shadow IT.
“We’re on a mission to unlock the potential of all those new-breed citizen developers within enterprises who really want to get more control over their software needs, and to provide IT departments with more control while doing so. All offered on our powerful cloud-native platform, offering the best possible customer experience,” said Chris Obdam, CEO of Betty Blocks. “This additional funding is a huge milestone for Betty Blocks in proving the success of our company in this very interesting and fast-growing market.”
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SmartFin Capital led the round, combined with current investor Morse Investments, and joined by NIBC Bank, providing funding via their structured finance offering. SmartFin Capital founding partner, Bart Luyten, will be joining the investor committee.
“We’re excited to lead Betty Blocks’ next round of funding and help them on their path to conquer the no-code for citizen development market. Low-code has been one of the top priorities for our company. No-code for enterprises will be a significant part of the overall software development market and we see Betty Blocks in pole position to become the leading player,” said Bart Luyten.
“Innovation and supporting our clients at decisive moments is in the DNA of our bank so we are very happy to continue our partnership with Betty Blocks. Supporting Betty Blocks with an innovative new banking product is an important step for us,” said Jeroen Conijn, Head of FinTech, Mobility & Structured Finance with NIBC Bank.
“Having experienced the first wave of low-code personally, I see the next big wave happening in enterprise no-code. Betty Blocks has the platform and the track record to lead this wave and I’m pleased to help them with this round,” said Roel de Hoop, partner of Morse Investments.
“Digital transformation has only become more important during the Covid-19 pandemic, and as one of the world’s leading law firms we use Betty Blocks to innovate faster and to engage with new generations of lawyer developers,” said Paul Greenwood, CIO for Clifford Chance. “Over the past few years, we have built dozens of applications with Betty Block’s to help keep our competitive edge.”
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