New York-based technology startup Bubble that facilitates non-coders with tools to design and create web applications raised $100 million. According to a statement released by the company, the funding round was led by private equity firm Insight Partners.
Founded in 2012 to equip entrepreneurs with programming resources to save on their input costs and help to start their company, Bubble was a bootstrapped startup for around seven years. In 2019 it received $6.25 million in the seed round led by SignalFire along with Neo.
Besides the significant investors, others investing in the round were several individual entrepreneurs, including the artist Nas and the founders of the unicorns Warby Parker, Harry’s, Allbirds, Okta, MuleSoft and Flatiron Health. Later, New York investors BoxGroup and ThirdKind also joined.
Bubble’s no-code gaining popularity
Bubble’s technology application, known as ‘no-code’ or ‘low-code’ designed to assist people with little or no knowledge of coding, is gaining traction by the day. The application has caught the fancy of users who want to build technological platforms sans coding expertise.
The startup performed well during the pandemic to help overcome a bottleneck created by a surge in e-commerce and the digitization of businesses amid a shortage of coders.
Emmanuel Straschnov, Bubble co-founder, said he and his partner started the company in New York in 2012. The city was seeing a jump in tech startups. Still, entrepreneurs with expertise in different industries with good ideas struggled to find programmers to help them launch their companies.
Bubble’s platform allows entrepreneurs to build web applications like Airbnb or Twitter without relying on engineers, he said. Today it has more than 1 million users worldwide and has tripled its revenue in the past year, the company said.
Straschnov declined to disclose the company’s latest valuation. He said the funding would be used to hire more engineers and launch ‘boot camps’ to teach students and others how to use Bubble.