Nocode is a company that has traditionally had to rely on tech experts when non-technical employees want to do something, and it’s becoming pervasive in different layers of IT. And the startups that develop no-code tools are growing fast and raising a lot of money.
Let me introduce the latest case. EasySend is a Tel Aviv startup developing a platform that allows you to build the ability to interact with customers with a drag-and-drop interface without having to know the coding language at all. The Easy Send raised $ 50.5 million in Series B. With this money, the company will increase the number of templates available on the platform, hire human resources, and develop its business.
The round was led by Oak HC / FT, with participation from previous supporters Vertex IL, Intel Capital and Hanaco Venture. According to EasySend, it also raised $ 5 million (about 570 million yen) from Silicon Valley Bank through a venture debt. EasySend CEO and COO Omer Shirazi and CTO Eran Shirazi and Tal Daskal, who founded the company, haven’t disclosed the EasySend valuation, He said it was five times more than the previous valuation.
For reference, PitchBook estimates that the company’s previous round valuation was $ 31.4 million, and if this number is correct, the current valuation is about 1. It will be 557 million dollars (about 17,988 million yen). In any case, EasySend is growing its business rapidly, especially in the US with 10x sales.
Currently, EasySend has about 100 customers and covers a wide range of fields such as education, administration, financial services, and insurance. Especially strong in the fields of financial services and insurance, Cincinnati Insurance, NJM Insurance Group, PSCU, Sompo Japan, Petplan, etc. are using the company.
EasySend is targeting a market where paper forms are created to gather customer information and non-technical employees often handle such materials.
As companies rapidly move their customer service to virtual environments, they are being required to move away from paper-based operations. According to Daskull, the EasySend team saw an opportunity to “help companies build their digital customer journey from scratch.” The company first looked at traditional banks, but soon realized that many similar markets had similar problems and potential solutions.
In addition, the corona wreck also influenced its development. Many companies have driven a shift called “digital transformation” that has rapidly reduced paper-based offline operations. This has led even more companies to use EasySend as one of the ways to work with employee-friendly digital tools.
And digital tools that replace analog tools are often more functional than analog. Analysis is one of the areas that EasySend has developed and is trying to enhance in the future. With analytics, users can track the engagement they have built with their customers. Daskull told TechCrunch that it will soon be able to enhance AI insights to provide more trend and forecast data.
EasySend plans to not only enhance the use cases of the “customer journey” with future investments, but also develop processes that can incorporate technologies such as RPA and integrate with other operations. Combining new services from other companies, such as ID verification and digital signature technologies, has the potential to handle even more complex and wide-ranging customer service.
Oak HC / FT partner Dan Petrozzo said in a statement, “Today, companies need to create a better customer experience than ever before to be competitive. EasySend Transformed the way enterprises deliver digital experiences to their customers quickly and efficiently. We believe EasySend, which is unique in leading enterprises to the digital age, has significant growth opportunities in the future. The investment is the result. “
Image Credit: EasySend
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(Sentence: Ingrid Lunden, Translation: Kaori Koyama)