Bubble, a New York-based start-up that permits non-coders to design and create web applications, raised $100 million in a funding round led by private equity firm Insight Partners.
“At the end of the day, choosing a lead investor is a little bit like getting married. You choose someone that you think you’re going to get along with for a long time,” Straschnov, the Bubble’s CEO, said. “It comes down to intuition.”
Bubble aims to authorise the democratization of software development by letting anyone enter the space. Through its platform, Bubble enables coders or non-coders to build new web applications using a single line of code and merely relying on graphical user interfaces along with plug-ins to integrate software tools that might require code.
“No-code multiples the software engineering market by 100X, turning millions of non-tech users into software builders. The market opportunity is immense,” claims an investor pitch deck given to Insider.
Bubble allows building web applications like Airbnb or Twitter without the expense of a large engineering team writing codes from scratch. It claims to have 34 percent of users who never built anything online, while 70 percent of the applications built with Bubble are customer-facing. Today it has more than 1 million users worldwide and has tripled its revenue in the past year, the company said.
Currently, the company has about 45 employees. It is mainly focused in New York City but has people in 15 states, including France. According to Straschnov, the company is looking to hire technical talent to build out the product using its new funds.
The company currently charge prices depending on the performance requirements of an application. There’s a free tier, and then professional pricing starts at $25/month all the way to $475/month for its top-listed offering. Enterprise pricing and special pricing for students is also available. As far as Bubble’s revenue is concerned, the company says Bubble that the number has tripled over the past year. But is the revenue generated profitable? What is its valuation with this new funding round? Where do those numbers about a 100x market opportunity come from? All of these questions are yet to be answered by Bubble. Till then, let’s go with the flow.