Friday, February 23, 2024
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Digibee raises $60M to help companies integrate their software apps

Digibee, a low-code integration platform geared toward enterprise organizations, today announced that it raised $60 million in a Series B funding round led by Goldman Sachs with participation from Leadwind, Southern Europe, Vivo Ventures, Brazilian telco Vivo, Kinea and G2D.

The round brings Weston, Florida-based Digibee’s total raised to $90 million, which CEO Rodrigo Bernardinelli said is being put toward growth in the U.S. and Latin America with a particular focus on expanding customer support stateside.

“From a product perspective, Digibee will drive AI capabilities into the platform as well as substantially focusing on developer enablement,” Bernardinelli told TechCrunch in an email interview. “In terms of the market motion, Digibee expects to focus on relieving the pain of working with entrenched, legacy integration technologies that are not delivering value commensurate with their costs.”

Bernadinelli and Digibee’s second co-founder, Peter Kreslins, worked together for several years in sales and technical roles and met the startup’s third co-founder, Vitor Sousa, as a customer. Bernadinelli says they all saw a need to address a challenge — app and process integration — that’d been around for decades in a “modern” way.

The fruit of their labor is Digibee, which offers a set of automated tools that integrate apps that are then deployed in different environments. The startup’s cloud services support the development and governance of integration flows that connect on-premises and cloud-based processes, services apps and data across an organization.

With Digibee, customers can create integration flows, or pipelines, leveraging components like enterprise apps, files and other tools. Modules provide pre-packaged business logic that can be reused by internal teams and partners.

“Traditional and legacy integration platforms require months of training before certification and productivity can be achieved,” Bernadinelli said. “This makes the implementation of integration technology challenging and costly. By providing a low-code platform for pro coders, Digibee allows a wide spectrum of engineers the opportunity to be productive in days or weeks — helping to punch down technical debt.”

Bernadinelli acknowledges that Digibee competes with a range of legacy integration vendors including MuleSoft, Boomi, Software AG and TIBCO in addition incumbents like Oracle, SAP, Microsoft and IBM. But he stressed what he sees as Digibee’s biggest differentiator, which is a consumption-based pricing model that doesn’t require customers to pay for the maximum potential usage.

“Although we sometimes run into Workato, Tray.io, Celigo and other companies focused on non-mission critical use cases in shadow IT, these are not our primary competitors,” Bernadinelli added.

Digibee also has the good fortune of occupying an industry in high demand. According to a survey by IDG and TeamDynamix, platforms like Digibee — known as iPaaS, or integration platforms as a service — are becoming the solution of choice for enterprises adopting new digital technologies. The survey found that 27% of companies had already invested in iPaaS as of November 2021, and that 66% had plans to do so in the next 12 to 24 months.

“The major challenge for the iPaaS industry is clearly delineating use cases for enterprise-class platforms like Digibee’s from point-to-point capabilities from many of the upstarts that have seen huge growth in the past couple of years,” Bernadinelli said. The former are strategic and core to enterprise requirements, including notable digital transformation initiatives, while the latter are tactical and tend to have very discrete, minor impact. In digital transformation initiatives, the value is at the point of integration.”

Digibee, which has roughly 280 employees and 250-plus customers, plans to expand its workforce to over 300 people by the end of the year.

Digibee raises $60M to help companies integrate their software apps by Kyle Wiggers originally published on TechCrunch

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