10 June 2023, Bengaluru, India
A low-code integration platform for enterprise companies called Digibee has revealed today that it has raised $60 million in a Series B fundraising round, which was headed by Goldman Sachs and included Leadwind, Southern Europe, Vivo Ventures, Brazilian telco Vivo, Kinea, and G2D.
The round increases Digibee’s total funding to $90 million. CEO Rodrigo Bernardinelli said the money will be used to build the company in the United States and Latin America, with an emphasis on enhancing customer assistance domestically.
In an email conversation with TechCrunch, Bernardinelli said, “From a product perspective, Digibee will drive AI capabilities into the platform as well as substantially focusing on developer enablement.”
Regarding market movement, Digibee anticipates concentrating on easing the discomfort of dealing with firmly established, outdated integration solutions that are not providing value on par with their expenses.
Bernadinelli and Peter Kreslins, who served as Digibee’s second co-founder, collaborated on sales and technical projects for several years before meeting Vitor Sousa, who would later join the company as a third co-founder. According to Bernadinelli, everyone recognized the need for a “modern” solution to an issue that has existed for many years: app and process integration.
The result of their labor is Digibee, which provides a collection of automated tools for integrating apps before deploying them in various settings. The cloud services offered by the firm assist in the creation and administration of integration flows that link on-premises and cloud-based services, apps, and data throughout a business.
Customers can build integration flows, or pipelines, using Digibee by combining elements like business apps, data, and other technologies. Modules offer pre-packaged business logic that internal teams and partners can reuse.
According to Bernadinelli, traditional and legacy integration systems need months of training before certification and productivity can be attained. “As a result, integrating technology is difficult and expensive to deploy. Digibee gives a variety of engineers the chance to be productive in days or weeks by giving professional coders a low-code platform, which helps reduce technical debt.
Bernardinelli notes that in addition to market leaders like Oracle, SAP, Microsoft, and IBM, Digibee also faces competition from a variety of legacy integration suppliers, such as MuleSoft, Boomi, Software AG, and TIBCO. However, he emphasized what he believes to be Digibee’s key distinction, which is a consumption-based pricing mechanism that exempts users from paying for all possible usage.
Digibee also enjoys the benefit of working in a highly sought-after sector. According to a survey by IDG and TeamDynamix, platforms like Digibee, also known as iPaaS, or integration platforms as a service, are quickly becoming the preferred choice for companies integrating new digital technologies. According to the survey, 66% of organizations planned to invest in iPaaS within the next 12 to 24 months, and 27% of enterprises had already done so as of November 2021.
According to Bernadinelli, “the main challenge for the iPaaS industry is differentiating use cases for enterprise-class platforms like Digibee’s from point-to-point capabilities from many of the upstarts that have seen a huge growth in the last couple of years.”
In contrast to the latter, which are tactical and frequently have small, inconspicuous effects, the former are strategic and essential to corporate requirements, including noteworthy digital transformation programs. Value is found at the point of integration in digital transformation activities. Digibee now has about 250 clients and employs over 280 employees; by the end of the year, they hope to have over 300 clients.
[Source: Techcrunch.com]
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