We’re pleased to announce Crowdbotics has raised $40M in Series B funding, led by New Enterprise Associates (NEA) with participation from Harrison Metal, Jackson Square Ventures, Homebrew, Bee Partners, and the House Fund.
Crowdbotics has tripled its growth in each of the past three years with no slowdown in sight. We've seen our platform help everyone from small start-ups to large enterprise organizations decrease development time and cost, serving as a resounding validation of our core philosophy: that the future of software development is increasingly built on strategies proven to work in the past.
This round of funding will allow us to bring more advanced products to market, increase our offerings for enterprise-level organizations, and improve support offerings for our existing customers. Here are a few upcoming changes to get excited about in 2023:
Because up to 70% of requirements can be shared between software products, customers can build applications using strategies and reusable modules of code that have worked in the past, and focus custom engineering efforts just on the parts of their application that are truly unique. This makes software development processes substantially more predictable than building from scratch, and helps parts of an organization other than IT plan and launch software applications using IT-approved components and strategies.
The future of software development is increasingly built on strategies proven to work in the past.
Not only does Crowdbotics reduce overall cost and overhead per project, but it also gives teams a clear path to scalable code reuse, ensuring that these efficiencies compound across future builds. When internal teams have their project pipelines freed from developing low-level functions that have already been built, they’re able to focus on creating the features that directly help businesses reduce costs, serve customers better, and innovate against their rivals.
Aaron Jacobson, Partner at NEA explained, "Demand for software developers reached in an all-time high in 2022, but there is a shortage of talent. The U.S. Labor Department estimates that the global shortage of engineers may reach 85.2M by 2030, putting trillions of dollars in GDP at risk. Crowdbotics solves this challenge with a solution that enables non-technical users to build fully featured applications. They uniquely combine an intuitive UI with pre-built software components, generative code, and crowdsourced developers. This enables rapid and cost-effective software creation without sacrificing the breadth of possibility presented by 'full-code' approaches such as internal or outsourced developers.
"Crowdbotics is at the conflux of multiple tailwinds. The rise of AI for code generation presents an opportunity to expand the development capability of non-technical users. Furthermore, in a recessionary environment, there are even fewer development resources to go around, and Crowdbotics presents a cost-effective solution for enterprises to meet software development goals that can help their businesses save money."
We've seen this strategy benefit Crowdbotics customers of all sizes in a huge range of industries, with particular traction in health, finance, entertainment, logistics, and government. We see it in our partnership with the USAF, which has expanded as we continue to identify new efficiencies in flight analysis using machine learning. We’ve seen it at Arootah, where their team digitized their goal-setting workbook to drive peak executive performance. And we've seen it while working with the long list of creative entrepreneurs with great ideas who use Crowdbotics to turn those ideas into code.
Crowdbotics presents a cost-effective solution for enterprises to meet software development goals that can help their businesses save money.
We owe a huge thanks to the team here at Crowdbotics for being on the journey through this milestone, especially our growing community of top developers, product managers, and designers. If you’re looking to join us as we scale up to enable anyone to turn their ideas to code, then please get in touch.
And if you want a better way to build your next great idea, don’t hesitate to reach out.
January 25, 2023