SmartFin Capital Backs Betty Blocks in $33M Round
August 12, 2021
Betty Blocks has raised $33 million in funding.
The round was led by European Private Equity and Venture Capital
investor SmartFin Capital. Also participating were existing
investors Morse Investments and NIBC Bank.
Betty Blocks enables fusion teams – people from the business-side
and IT – to quickly build software together in order to speed up
innovation and improve time-to-market. Betty Blocks’ customers
include industry leaders such as The Dutch National Police, Clifford
Chance, TaskUs, and Anglian Water.
Betty Blocks says it will use the funding to expand its operations
and further develop the platform. Plans include making the platform
even easier to use, enhancing the citizen development governance
features, introducing more templates, and enriching its Block Store
with more standard integrations.
Founded in 2016, the Betty Blocks platform helps IT and the business
side work together to build business-critical applications.
Recognized by industry analysts for its versatility and ease of use,
the Betty Blocks platform is well suited to enterprises that are
looking to speed up application development by empowering a new
breed of developer. These business developers (or citizen
developers) are employees that do not necessarily have programming
knowledge, but understand processes and data. With the help and
assistance of IT, they build software solutions that immediately
impact their work and the organization’s bottom line in a secure,
sustainable, and governed way.
By radically changing the approach to software development,
enterprises are more agile, improve competitive value, and increase
employee engagement. New-breed developers use templates and no-code
building blocks to build apps without coding, connect apps to the
existing enterprise application landscape, and provide the IT
department with more control over shadow-IT.
“We’re on a mission to unlock the potential of all those new-breed
citizen developers within enterprises who really want to get more
control over their software needs, and to provide IT departments
with more control while doing so. All offered on our powerful
cloud-native platform, offering the best possible customer
experience,” said Chris Obdam, CEO of Betty Blocks. “This additional
funding is a huge milestone for Betty Blocks in proving the success
of our company in this very interesting and fast-growing market.”
SmartFin Capital led the round, combined with current investor Morse
Investments, and joined by NIBC Bank, providing funding via their
structured finance offering. SmartFin Capital founding partner, Bart
Luyten, will be joining the investor committee.
“We’re excited to lead Betty Blocks’ next round of funding and help
them on their path to conquer the no-code for citizen development
market. Low-code has been one of the top priorities for our company.
No-code for enterprises will be a significant part of the overall
software development market and we see Betty Blocks in pole position
to become the leading player,” said Bart Luyten.
and supporting our clients at decisive moments is in the DNA of our
bank so we are very happy to continue our partnership with Betty
Blocks. Supporting Betty Blocks with an innovative new banking
product is an important step for us,” said Jeroen Conijn, Head of
FinTech, Mobility & Structured Finance with NIBC Bank.
“Having experienced the first wave of low-code personally, I see the
next big wave happening in enterprise no-code. Betty Blocks has the
platform and the track record to lead this wave and I’m pleased to
help them with this round,” said Roel de Hoop, partner of Morse
"Digital transformation has only become more important during the
Covid-19 pandemic, and as one of the world's leading law firms we
use Betty Blocks to innovate faster and to engage with new
generations of lawyer developers,” said Paul Greenwood, CIO for
Clifford Chance. “Over the past few years we have built dozens of
applications with Betty Blocks to help keep our competitive edge.”