Unqork Revenue, Valuation, Funding & Investors
Unqork is valued at $2B as of October 2020, a 15.0x multiple on its last reported $133M revenue.
Last Unqork valuation
$2B
Series C · Oct 2020
Last Unqork funding round
$207M
Series C · Oct 2020
Unqork revenue
$133M
Series C · Oct 2020
Key investors in Unqork
Summerfield Capital Management
BlackRock
CapitalG
Blue Collective
Generation Ventures
Goldman Sachs
About Unqork
Unqork is a New York-headquartered no-code platform for building complex enterprise applications in insurance, banking, and government sectors. Launched in 2017, it enables drag-and-drop development of forms, workflows, and integrations, serving clients like Liberty Mutual and JPMorgan Chase with faster deployments.
Founded
2017
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$133M (Oct 2020)
Valuation
$2B (Oct 2020)
Unqork Valuation
Unqork is currently valued at $2B, based on its Series C in October 2020.
The $207M round was led by BlackRock.
Unqork valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2020 | Series C | $2B | 15.0x |
Unqork Revenue
Unqork's latest recorded revenue is $133M, as of its Series C in October 2020. At a $2B valuation, that implies a 15.0x revenue multiple.
Unqork revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Oct 2020 | $133M | $2B | 15.0x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Unqork Funding History
Unqork has raised a total of $365M across 5 funding rounds.
Unqork's first fundraising round was a $5M seed round in March 2018. The most recent completed round was a $207M Series C in October 2020.
Unqork funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2020 | Series C | BlackRock (lead) | $207M | $2B | Unqork is the leading enterprise no-code platform that enables large organizations in financial services, insurance, government, and health care to build complex custom software applications visually without writing code, addressing mission-critical needs like underwriting, onboarding, risk assessments, and policy issuance. Founded by former MetLife CIO Gary Hoberman, the platform supports deployments for clients including Liberty Mutual, Goldman Sachs, John Hancock, New York City, and Washington D.C., offering faster and cheaper development than traditional methods. On October 6, 2020, Unqork announced a $207 million Series C funding round led by funds and accounts managed by BlackRock, with participation from Eldridge, Fin Venture Capital, Hewlett Packard Enterprise, Schonfeld Strategic Advisors, Sunley House Capital Management (Advent International subsidiary), and existing investors CapitalG (Alphabet's growth fund), Goldman Sachs, Broadridge Financial Solutions, Aquiline Technology Growth, and World Innovation Lab. This round raised the company's post-money valuation to $2 billion, following a Series B totaling $131 million closed in tranches ($80M in Oct 2019, $51M in Feb 2020), bringing total funding over $365 million at the time. The funding supports global expansion, including a new London office, growth of the salesforce from 165 to 350 employees, investment in engineering and platform technology, and partnerships with systems integrators like Capco, Cognizant, Deloitte, EY, KPMG, and Virtusa. Unqork reported rapid 2020 growth, including triple-digit annual recurring revenue growth for the third year, senior hires like its first CFO, and COVID-19 response initiatives with municipalities, positioning it to capture a $500 billion market opportunity in custom enterprise code. |
| Feb 2020 | Series B | CapitalG (lead); Aquiline Technology Growth; World Innovation Lab; Goldman Sachs | $51M | - | Unqork is an enterprise no-code platform enabling large organizations in financial services, insurance, government, and healthcare to build and deploy complex applications without coding. The February 26, 2020 funding was a $51 million extension to its Series B round, led by CapitalG, with participation from Goldman Sachs, Aquiline Technology Growth, and World Innovation Lab, bringing total funding at that point to $158.2 million. This was noted as the fourth-largest Series B round for a New York City-based company. Unqork competed with platforms like Appian, Mendix, Microsoft PowerApps, Google App Maker, and Salesforce Lightning. By October 2020, it raised a $207 million Series C led by BlackRock, achieving a $2 billion valuation, with investors including CapitalG, Goldman Sachs, and others from the prior round. The company reported triple-digit ARR growth for the third consecutive year in 2020, driven by new customer wins and expansion, alongside headcount doubling to over 350 and international growth into EMEA. Customers included Aon, Goldman Sachs, Liberty Mutual, New York City, and Maimonides Medical Center. Sacra later estimated Unqork's 2021 revenue at $130 million, reflecting 277% year-over-year growth from 2020, fueled by doubled customers and digital transformation demands in asset management, insurance, and banking, with revenue from platform subscriptions and professional services. Total funding reached approximately $367 million by 2021, with a $2 billion valuation and estimated 15x revenue multiple, aligning with peers like Mendix. |
| Oct 2019 | Series B | CapitalG (lead); Summerfield Capital Management; Collate Capital; Generation Ventures; BlackRock; Blue Collective | $80M | - | Unqork is a New York-based cloud-based no-code enterprise application development platform primarily serving financial services and insurance industries, founded in 2017. The company closed an $80 million Series B funding round in October 2019, led by CapitalG (Alphabet's growth equity fund), with participation from BlackRock funds, Goldman Sachs, and Summerfield Capital Management, bringing total funding to over $110 million following a prior $22 million Series A in April 2019. Funds were allocated to expand into new geographic and vertical markets, grow the engineering team from 30 to over 150 employees in 2019, and support go-to-market operations. Customers included Goldman Sachs (banking and insurance), Liberty Mutual, Nationwide, Principal, John Hancock, and The Hanover. In 2019, Unqork achieved significant milestones including growing from 30 to over 150 employees, moving to a 40,000 square foot office in Union Square, New York, and expanding its annual recurring revenue at a triple-digit rate over the past 12 months through new customer acquisitions and ARR expansion within existing base. The platform enables enterprises to build complex custom software visually without code, targeting mission-critical applications in regulated sectors. This Series B was the first tranche, followed by a $51 million second tranche in February 2020 (also led by CapitalG with overlapping investors), and a $207 million Series C in October 2020 that valued Unqork at $2 billion post-money, led by BlackRock with participation from prior investors. Aggregate funding reached approximately $365-416 million across rounds by 2020. |
| Apr 2019 | Series A | Goldman Sachs Growth Equity (lead); Sinai Capital Partners; Summerfield Capital Management; Generation Ventures; Broadridge | $22M | - | Unqork is a no-code enterprise application development platform founded in 2017 that enables businesses to build complex applications without writing code, using a drag-and-drop interface. The platform combines enterprise-grade functionality with ease of use and serves major clients including Goldman Sachs, John Hancock, Liberty Mutual, and other financial services and insurance companies. In April 2019, Unqork raised a Series B (Series A in source ) funding round of $22 million led by Goldman Sachs Growth Equity with participation from other investors. By October 2019, the company had completed an $80 million Series B funding round led by CapitalG (Alphabet's growth equity fund), bringing total funding to more than $107-110 million. During 2019, Unqork demonstrated strong growth metrics including growing annual recurring revenue at a significant triple-digit rate over the prior twelve months, driven by both new customer acquisition and ARR expansion within existing customers. The company expanded rapidly from 30 employees at the start of 2019 to over 150 by October, and established its headquarters in a 40,000 square foot space in Union Square, New York. By 2021, Unqork had reached an estimated $130 million in revenue with a $2 billion valuation, reflecting a 277% year-over-year growth rate and demonstrating the strong market traction of its no-code enterprise application platform. |
| Mar 2018 | Seed | Summerfield Capital Management (lead); Daniel Petrozzo; Blue Collective | $5M | - | Unqork is an enterprise no-code platform that enables businesses to develop applications without writing code, using a drag-and-drop interface. The company secured $5.17 million in seed funding in March 2018 led by Summerfield Capital Management. By October 2019, Unqork had raised a total of $107 million across seed and Series A/B rounds, growing its workforce from 30 employees at the start of 2019 to over 150 by the Series B close, with annual recurring revenue increasing at a triple-digit rate. The company's customer base includes major enterprises such as Goldman Sachs, Liberty Mutual, and John Hancock, along with government clients. In October 2020, Unqork closed a Series C round of $207 million at a $2 billion valuation, led by BlackRock, with the company at that point operating in multiple geographies and maintaining triple-digit ARR growth. |
Who has invested in Unqork?
13 investors have backed Unqork across its funding rounds, including Summerfield Capital Management, BlackRock, CapitalG, Blue Collective, Generation Ventures and Goldman Sachs.
Lead investors include BlackRock, CapitalG, Goldman Sachs Growth Equity and Summerfield Capital Management.
Unqork Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 3 | Lead | Mar 2018 | |
| San Francisco, CA | 2 | Participant | Apr 2019 | |
| United States | 2 | Lead | Oct 2019 | |
| San Francisco, CA | 2 | Lead | Oct 2019 | |
| New York City, NY | 2 | Participant | Mar 2018 | |
| New York City, NY | 1 | Participant | Apr 2019 | |
| New York City, NY | 1 | Participant | Feb 2020 | |
| San Francisco, CA | 1 | Participant | Feb 2020 | |
| New York City, NY | 1 | Participant | Oct 2019 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Daniel Petrozzo | United States | 1 | Participant | Mar 2018 |
| New York City, NY | 1 | Participant | Feb 2020 | |
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Start Free TrialUnqork Competitors
Unqork competitors include listed companies like ServiceTitan and Polaris Holdings, and private ones like OutSystems, Mural, HoneyBook and Linear.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Boston, MA | Private | $486M | - | $4.3B | 8.8x | |
| San Francisco, CA | Private | $125M | - | $2B | 16.0x | |
| San Francisco, CA | Private | $80M | - | $2.4B | 30.0x | |
| San Francisco, CA | Private | $100M | - | $2.5B | 25.0x | |
| United States | Publicly listed | $961M | ($86M) | $5.2B | 4.5x | |
 Japan | Publicly listed | $312M | $45M | $283M | 1.3x |
Unqork Public Comps
Unqork is still privately-owned, but its public comps include Freee, Digiwin, Intapp, Kingdee, Asseco Business Solutions, Inspur, RWS Holdings, Hangzhou Anysoft, Business Engineering and Koal Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $214M | $6M | 6.3x | 4.8x | 237.7x | 65.4x | |||
| $363M | $48M | 4.0x | 3.8x | 30.1x | 23.6x | |||
| $578M | ($16M) | 4.6x | 4.5x | (164.3x) | 20.9x | |||
| $1B | $95M | 2.7x | 2.5x | 29.9x | 24.2x | |||
| $126M | $49M | 5.8x | 5.2x | 14.9x | 12.8x | |||
| $172M | ($31M) | 3.7x | 2.7x | (20.3x) | - | |||
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
| $150M | $15M | 5.5x | - | 54.3x | - | |||
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Common questions about Unqork
| When was Unqork founded? | Unqork was founded in 2017. |
| Where is Unqork headquartered? | Unqork is headquartered in New York City, NY, United States. |
| Is Unqork publicly listed? | No, Unqork is a private, VC-backed company. |
| What is Unqork's valuation? | Unqork was last valued at $2B in its Series C in October 2020. |
| How much funding has Unqork raised? | Unqork has raised $365M across 5 funding rounds. |
| What was Unqork's last funding round? | Unqork's last funding round was a $207M Series C in October 2020, led by BlackRock. |
| Who are Unqork's investors? | Unqork's investors include Summerfield Capital Management, Generation Ventures, BlackRock, CapitalG, Blue Collective, Sinai Capital Partners, Aquiline Technology Growth, World Innovation Lab, Collate Capital, Daniel Petrozzo and 3 others. |
| What is Unqork's revenue? | Unqork's latest recorded revenue is $133M (October 2020). |
| What is Unqork's revenue multiple? | Unqork's latest valuation implies a 15.0x revenue multiple ($2B valuation on $133M of revenue). |
| Which companies are comparable to Unqork? | Companies comparable to Unqork include OutSystems, Mural, HoneyBook, Linear, ServiceTitan and Polaris Holdings. |
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