Celigo, the leading Integration Platform as a Service (iPaaS) provider for the mid-market, has announced that the company raised $48 million in Series C funding to optimize end-to-end business automation for mid-market companies. The company will use the funds to increase its go-to-market capacity and accelerate global expansion. The funding round was led by OMERS Growth Equity and joined by NewSpring Capital.
“For too long, the promise of the modern iPaaS has gone unrealized. Legacy providers connect cloud-based business applications, but the automation of business processes that use those applications has not improved,” said Jan Arendtsz, founder and CEO at Celigo. “With the support of our investors, Celigo will enable breakaway growth, controlled cost management, and superior customer experiences for our customers by ensuring that every process — at every level of the organization — can be automated in the most optimal way from a single platform.”
“Worldwide end-user spending on public cloud services is forecast to grow 23.1% in 2021 to total $332.3 billion, up from $270 billion in 2020,” according to the latest forecast from Gartner, Inc.1 According to another report by GartnerⓇ, “the global enterprise software market grew 9% in 2020 to over $535 billion, confirming its status as the most dynamic and fastest-growing IT market.”2 The significant increase in spend and adoption is directly attributable to the change in the way people work and the need to streamline processes to accommodate the new ways of doing business.
As companies continue to add best-of-breed applications to their technology stacks and as digital processes multiply, the need for automation will become even more critical. Celigo is positioned to deliver on the promise of end-to-end business automation by creating perfect business processes based on best practices and past results.