TechWire Rewind: Raleigh s hot job market; funding news; VentureSouth bullish on NC; SPAC trend grows -79 headlines to review wraltechwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wraltechwire.com Daily Mail and Mail on Sunday newspapers.
DURHAM – Success did not come overnight for Durham-based ProcessMaker, which just raised $45 million from Aldrich Capital Partners in its first outside investment for its open source automated workflow product.
“It was a long haul,” said CEO Brian Reale in an interview with WRAL TechWire. “We took a lot of different paths. Most people don’t do that.”
The funding is big news in the emerging field of no-code/low-code that ProcessMaker has helped pioneer.
“The promise of no-code platforms is that they’ll make software development just as easy as using Word or PowerPoint so that the average business user can move projects forward without the extra cost (in money and time) of an engineering team,” notes VentureBeat.
February 12, 2021 @ 11:01 am By JD Alois
Durham-based ProcessMaker is announcing today that it has closed $45 million in Series A funding from Aldrich Capital Partners. The financing marks the first outside investment for the previously bootstrapped Durham-based technology company.
ProcessMaker is a leading no-code/low-code open source process automation platform founded during the dotcom boom and bust of 2000 by Bobby Vernon and Brian Reale. The two entrepreneurs failed early and quite often during their initial years, but in 2008 the team launched what is now known around the world as ProcessMaker – one of the first open source workflow software solutions in the industry at the time.