Appsmith, a low-code platform for building business apps, lands $41 million – TechCrunch

Over the past few years, Appsmith has been quietly building an open-source platform for in-house development teams to build the custom apps they need. These are business applications that companies tend to build themselves to give them access to data in a more fluid and visual way.

Although the company considers it low-code, it is designed to speed up the development process for experienced developers, rather than helping business users build apps, as some low-code app environments want.

Today the company announced a $41 million Series B round, a pretty big round at a time when venture capital dollars are becoming harder to come by, especially for a pre-revenue company, but investors examine the startup’s growth potential, using the open source project as a springboard.

The company’s co-founder and CEO, Abhishek Nayak, said that while they fall into the low-code category, this is really a product for developers who want to progress faster when they’re working. is about creating internal applications.

“These applications are intended for use by internal team members and not by external customers. So that’s Appsmith’s goal. It does things much faster for a developer and that’s why you can consider it a low code product because it means a developer writes less code… but a lot of developers consider Appsmith as a framework to build apps ,” Nayak explained.

It does this by providing many of the components you need to build the application, whether it’s front-end parts, data connectors, or access control parts that developers often need to build. from scratch. This involves providing user interface components via drag and drop. Second, developers can connect to a data source or use an API to connect to an unavailable source. Finally, it handles access control so you can control who can use the tool internally. Each component is customizable, so developers have great flexibility to adapt the components provided by Appsmith.

The company currently has 95 employees, spread across 16 countries, with the majority in India, followed by the United States and Nigeria, he said. He plans to double the workforce by early next year and believes geographic diversity helps build a diverse workforce overall.

He points out that the remoteness has especially helped when it comes to hiring more women. “We have found that remote and flexible working definitely helps us attract more women to come work with us. While we can certainly do a lot more, we are very happy with the rate at which we are able to hire women, especially around the world, not just in India,” he said.

Although the company is still in the pre-revenue phase, it has grown its user base 15x over the past year and has over 7,000 active users on the platform using the tool every month. . The new investment buys him time to focus on the open source community before creating the inevitable commercial product. He thinks he has at least 4 years of track, so plenty of time to build a product and generate revenue, but he’ll start looking at that within a year, he said.

Today’s $41 million Series B investment was led by Insight Partners with participation from Accel, Canaan Partners, OSS Capital and individual angel investors.

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