Overview
Digibee, a low-code integration platform geared towards enterprise organizations, has announced the completion of its Series B funding round, securing $60 million from prominent investors. This latest development brings Digibee’s total raised capital to $90 million, with plans to utilize this investment for growth in the US and Latin America.
Key Highlights
- Series B Funding: Digibee has successfully concluded its Series B funding round, raising an impressive $60 million.
- Total Raised Capital: With this new funding, Digibee’s total raised capital now stands at $90 million.
- Investors: The round was led by Goldman Sachs, with participation from Leadwind, Southern Europe, Vivo Ventures, Brazilian telco Vivo, Kinea, and G2D.
Growth Plans
Digibee plans to allocate its newly acquired funds towards expanding its customer support in the US. Additionally, the company will focus on driving AI capabilities into its platform and enhancing developer enablement.
According to CEO Rodrigo Bernardinelli, "From a product perspective, Digibee will drive AI capabilities into the platform as well as substantially focusing on developer enablement." The company aims to relieve the pain of working with entrenched, legacy integration technologies that are not delivering value commensurate with their costs.
History and Founding
Digibee’s co-founders, Rodrigo Bernardinelli and Peter Kreslins, have a strong background in sales and technical roles. They met the startup’s third co-founder, Vitor Sousa, as a customer. Together, they recognized a need to address the challenge of app and process integration in a modern way.
Product Overview
Digibee offers automated tools for integrating apps that are then deployed in different environments. The company’s cloud services support the development and governance of integration flows that connect on-premises and cloud-based processes, services, apps, and data across an organization.
With Digibee, customers can create integration flows or pipelines leveraging components like enterprise apps, files, and other tools. Modules provide pre-packaged business logic that can be reused by internal teams and partners.
Traditional Integration Platforms
Bernardinelli acknowledges that traditional and legacy integration platforms require months of training before certification and productivity can be achieved. This makes the implementation of integration technology challenging and costly.
By providing a low-code platform for pro coders, Digibee allows a wide spectrum of engineers to be productive in days or weeks — helping to punch down technical debt.
Competition
Digibee competes with legacy integration vendors like MuleSoft, Boomi, Software AG, and TIBCO, as well as incumbents like Oracle, SAP, Microsoft, and IBM. However, the company stresses that its biggest differentiator is a consumption-based pricing model that doesn’t require customers to pay for maximum potential usage.
Market Demand
The industry in which Digibee operates is experiencing high demand. According to a survey, 75% of businesses are already using or planning to use integration platforms.
Investment and Future Plans
Digibee plans to utilize its newly acquired funds to expand into the US and Latin America, further driving growth and innovation within the company.
With this investment, Digibee is poised to make significant strides in the market, providing a more streamlined and efficient solution for businesses looking to integrate their apps and processes.
Conclusion
Digibee’s successful Series B funding round marks an exciting milestone for the company. With its newly acquired funds, Digibee is well-positioned to drive growth, expand into new markets, and continue to innovate in the integration platform space.
