When it comes to designing bespoke applications for internal development teams, Appsmith has been quietly working on an open source platform for years. Companies often develop their own business apps to make it easier for them to access data in a more simplified and visible manner.
While it’s marketed as low-code, it’s really meant to speed up the development process for experienced developers, rather than enabling line of business users construct apps, as other low-code application environments are aimed at doing..
Today, the firm announced a $41 million Series B round of funding, a big sum for a startup, particularly one that is still in the early stages of income generation. Investors, however, see the open source initiative as a springboard for the company’s future development.
It’s a low-code solution, but it’s actually a product for developers who want to create internal apps quickly, according to the company’s co-founder and CEO Abhishek Nayak.
Internal team members, not external clients, are the intended audience for these apps” As a result, Appsmith is primarily concerned with this. You may think of this product as a low-code one since it allows developers to work more quickly. As Nayak put it, “A lot of developers think of Appsmith as a framework.”
Developers don’t have to construct many of these components themselves, such as the front-end elements or the data connections or the access control. This is done by supplying a number of these components. Drag and drop user interface components are needed for this. Second, developers may utilise an API to connect to a data source that isn’t built-in. Finally, it takes care of access management, allowing you to decide who has internal access to the tool. Appsmith offers a wide range of components that may be tailored to suit the needs of developers.
According to him, the firm presently employs 95 people across 16 countries, the bulk of whom are based in India, with the remainder working in the United States and Nigeria. He wants to more than double the number of employees by the beginning of next year, and he feels that having a geographically varied team helps in achieving this goal.
According to him, working from home has made a big difference when it comes to employing more female employees. In our experience, allowing women to work remotely and on their own schedules has helped us hire more female employees. The rate at which we are able to employ women throughout the globe, and not only in India, is something we are really pleased with,” he added. “There’s obviously more we can do.”
Even though the firm is still in the pre-revenue stage, its user base has increased 15 times in the previous year and now has over 7000 monthly active users. In order to focus on the open source community before developing the eventual commercial product, he has received additional funding from the investors. Within the next year, he plans to begin looking at revenue and product development, which he estimates will take at least four years.
Insight Partners, Accel, Canaan Partners, OSS Capital, and individual angel investors participated in today’s $41 million Series B investment, which was headed by Insight.
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