Smardaten announced the completion its Round B financing, led by Sequoia China, Yunqi Partners, Parantoux Capital and Innovation Dark Horse with a ballpark valuation of several hundred million RMB.
This round of financing is used to strengthen the product and technology R&D of Smardaten, the enterprise-level no-code software platform, strive to enhance the global core competitiveness of products, build an industrial cooperation ecosystem in an all-round way, deepen market footprint and support the rapid expansion of its business.
No-code development platform completes application construction through configuration, and the process does not involve any coding in the process. It reduces the threshold of application construction and the response period of business requirements, and adapts to the "ever-changing" characteristics of current requirements. Globally, low-code development platforms such as OutSystems, Mendix, Pega, Microsoft, Salesforce have all been well received by the market, but they are still limited by the architecture and technology when the products are launched.
After long-term R&D and verification in more than 100 projects, Smardaten can support enterprise-level applications of customer no-code configuration with a single project scale of 700 multi-functional items and tens of millions of different functions with high reliability. The platform has built-in data management capabilities such as data management, integration and analysis visualization, along with AI-powered functionalities such as image recognition, speech recognition and natural language processing. These capabilities will greatly improve the development efficiency of applications and further improve the final application experience.
At present, Smardaten platform can shorten the delivery cycle of large-scale enterprise projects to only 1 or 2 months, and realize 100% of no-code delivery and 90% of the remote delivery rate. The platform has effectively helped customers reduce the development cost by 67% and the development cycle by 45%, significantly reducing the entry threshold of enterprise IT personnel.
1. Faster delivery. It connects requirements, design, implementation and delivery in an end-to-end fashion without the necessity to write even a single line of code. It remarkably reduces the threshold of delivery to improve the ability to lower uncertainties and risks.
2. Lower threshold. Unlike the low-code platforms which the main users are developers, no-code development can be developed by anyone from developers to business associates, and ultimately becomes accessible to everyone. There is no need to learn any programming languages and technologies, and all the complicated code-related work can be done by the platform.
3. Better experience. No-code development platforms is set to provide better experiences thanks to the development of various interactive technologies and a general shift to retail distribution. The deepening of digital transformation has also improved users' expectation for better experiences.