UK’S NO CODE DISRUPTOR TOCA RAISES €2.37M TO ENHANCE ITS RPA POSITION AND NO-CODE APP MARKET
UK-Based no-code apps and automation fabric pioneer just announced additional fundraise in its latest seed round from a group of private investors. However, Toca raising €2.3m is understood to be additional funds to the €1.6 million secured by the company during the 2018 seed round.
Looking at the current age of digital transformation in addition to continued pressure on organizations and businesses which meant to digitally transform, hence, the subject company is believed to be poised to provide an alternative to more traditional robotic process automation (RPA) processes. Further on this, the Reading-based tech company will in addition provide integration with legacy platforms that in most cases underpin enterprises. While the latest fundraised will be deployed to enhance the startup’s position that cut across the RPA market and the emerging no-code market, with a combined value predicted to be in the region of €17 billion by 2027.
Going forward, it’s worth noting that the subject startup is understood to be offering the capabilities behind low code app development and RPA markets that are delivered into a no-code platform that operates across diverse systems and infrastructures. In view of this, the company plans to get rid of integration challenges, liberate coders from pressure, while propelling business transformation in the right trajectory.
Moreover, in a broader dimension, it’s been figured out as well that the company’s vision is to reimagine business processes as a way of integrating people through apps. Resulting in an automation fabric that is embedded into a business, and in the process allows for control of any system, data structuring, automation processes, and rapid app development – ranging from simple web portals to more complex, logic-based applications. This will see Toca address the problem of data silos between legacy systems and modern applications that include APIs, owing to the fact that their technology will combine RPA in addition to direct integration into a single no-code platform. Hence, Toca fabric will, in turn, allow for digital transformation that promises cheaper, faster, and less technical know-how.
“This €2.3 million of funding will enable us to accelerate business growth and build awareness of the transformational capabilities of a no code apps and automation fabric combination. Toca enables businesses to breathe and innovate. We’ve built the Toca apps and automation fabric to bring legacy and cloud-native environments and address the integration problems that have plagued IT for decades. We are democratizing application building so businesses can automate enterprise-wide. This will help organizations shift from using technology to solve just 5% of business problems, to finally address the remaining 95%”, ‘Mat Rule’ Toca’s founder and CEO stated.
Having achieved over 257% growth in FY21 in addition to a strong reputation, however, the subject company plans to use the new capital to strengthen and mature its own internal processes, bolster sales and marketing, and accelerate its revenue growth.
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