SoftBank invested USD50m in a USD75m Series C for Pipefy, a Brazilian low-code BPO platform, with participation from Redpoint eventures and Steadfast Capital, and follow-on from Redpoint eventures. Insight Partners led a USD45m Series B in July 2019; Pipefy raised a USD16m Series A in 2018.
(Press Release) – Pipefy, the low-code workflow management software platform that transforms the way teams work, today announced completion of $75 million in Series C funding, bringing its total funding to date to $138.7 million. Led by $50 million from SoftBank Latin American Fund, with additional participation from Steadfast Capital Management, Insight Partners, Redpoint eventures and others. Pipefy’s new capital will significantly accelerate its global expansion with solutions that empower teams and organizations to nimbly automate and customize their integrated workflows.
Since it was founded in 2015, Pipefy has redefined workflow management for the era of digital transformation. It now is the preferred workflow solution for over 4,000 corporate customers including GE Healthcare, Lacoste, Magalu, Rivian, and Nubank, among many others, in more than 215 countries.
“The huge success of our Series C financing round underscores the broad appeal and utility of the Pipefy platform,” commented Alessio Alionço, founder and CEO of Pipefy. “Our low-code approach is meeting the needs of distributed workforces around the world. SoftBank, along with the other investors in this round, have given us the ability to accelerate our efforts to make Pipefy the most popular solution for automating operations and business processes.”
With Pipefy, anyone can build and deploy workflows that improve operations for business functions including finance, human resources, customer service, procurement and marketing. The platform scales easily to satisfy the needs of any organization, from emerging companies to the largest multinational corporations.
“We are thrilled to partner with the exceptional team at Pipefy,” noted Matthew Pieterse, Investment Leader of SoftBank Latin America Fund. “The company is building on its Latin American roots to bring global teams a solution critical to helping them navigate the increasingly complex and distributed enterprise software environment.”
“Low-code tools are the solution for overworked IT organizations struggling to meet the demand of the dramatic shift to a distributed workforce,” said Ananth Avva, President and COO of Pipefy. “Gartner reports that by 2024, more than 65% of new app development will be built on no-code or low-code solutions. Pipefy is ideally positioned to optimize the future of work by accelerating app development on our low-code platform, reducing IT backlogs and improving a reported 20% loss in productivity for both IT and business leaders.”
Pipefy (www.pipefy.com) is the workflow management software that increases team productivity, centralizes data and standardizes processes for teams like Finance, HR, Customer Service and more, so those requesting services, those processing the requests, and those managing the operation are more efficient. Through automated workflows and a no/lo-code platform, Pipefy enhances speed, increases visibility, and delivers higher quality outcomes with ready-to-use, customizable workflows. Digitally transform your team in a matter of hours, not weeks or months. The company is headquartered in the Silicon Valley. Try Pipefy today!
About Softbank Group
The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers; the SoftBank Vision Funds, which are investing more than US$135 billion to help extraordinary entrepreneurs transform industries and shape new ones; the US$5 billion SoftBank Latin America Fund, the largest venture fund in that region; the newly-launched US$3 billion SoftBank Latin America Fund II; and the SB Opportunity Fund, a US$100 million fund dedicated to investing in enterprises founded by entrepreneurs of color in the U.S. To learn more, please visit https://group.softbank/en.