Business

Pipefy closes $ 75 million Series C in round led by SoftBank

The SaaS startup wants to use its new capital to accelerate its global expansion; today, Pipefy has over 4,000 corporate customers

Pipefy series c SoftBank — Workflow management SaaS startup Pipefy secured $ 75 million to expand globally. Photo: Pipefy/Courtesy

LABS

26.Oct.2021 16:25 BRT

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The low-code workflow management software platform Pipefy announced this Tuesday the completion of a $75 million in Series C funding, bringing its total funding to date to $138.7 million. The round was led by $50 million from SoftBank Latin American Fund, with additional participation from Steadfast Capital Management, Insight Partners, Redpoint eventures and others.

According to the company, Pipefy’s new capital will significantly accelerate its global expansion with solutions that empower teams and organizations to nimbly automate and customize their integrated workflows.

Founded in 2015, Pipefy has now over 4,000 corporate customers including GE Healthcare, Lacoste, Magalu, Rivian, and Nubank, among others, in more than 215 countries.

“Our low-code approach is meeting the needs of distributed workforces around the world. SoftBank, along with the other investors in this round, have given us the ability to accelerate our efforts to make Pipefy the most popular solution for automating operations and business processes”, commented founder and CEO of Pipefy, Alessio Alionço.

The San-Francisco-based company was originally headquartered in Curitiba (Brazil). And much of the SaaS startup’s research and development is still located in the country. Pipefy’s solution improve operations for business functions including finance, human resources, customer service, procurement and marketing.

“We are thrilled to partner with the exceptional team at Pipefy,” noted Matthew Pieterse, Investment Leader of SoftBank Latin America Fund. “The company is building on its Latin American roots to bring global teams a solution critical to helping them navigate the increasingly complex and distributed enterprise software environment.”

“Low-code tools are the solution for overworked IT organizations struggling to meet the demand of the dramatic shift to a distributed workforce,” said the president and COO of Pipefy, Ananth Avva. “Pipefy is ideally positioned to optimize the future of work by accelerating app development on our low-code platform, reducing IT backlogs and improving a reported 20% loss in productivity for both IT and business leaders.”