Insight Partners made a US$45m Series B investment in Pipefy, a business process optimization platform that was founded in Brazil, with participation from existing investors Openview and Trinity Ventures. Pipefy raised a US$16m Series A in 2018 from Trinity Ventures, Openview, Redpoint eventures, Funders Club, Valor Capital, ONEVC, and Edelweiss. Previous investors include 500 Startups, Founders Fund, and others.
(Venture Beat) Pipefy, a San Francisco firm developing a process pipeline management platform for enterprises, today revealed that it this month closed a $45 million series B funding round led by Insight Partners, with participation from existing investors OpenView and Trinity Ventures. The fresh funds bring the four-year-old startup’s total raised to $65 million following a $16 million series A in March 2018, and CEO Alessio Alionço said they’ll be put toward continued product investment and scaling the company’s go-to-market operations.
“Our vision is to empower every do-er in an organization to create and execute their own custom workflows,” said Alionço, who cofounded Pipefy with Leandro Johann, Magnus Arantes, and Raphael Costa in 2015. “We are excited to bring the benefits of Lean Management to managers in every business — without needing technical skills or lean training.”
Pipefy’s no-code, Heroku- and AWS-hosted solution enables managers and team members alike to plot out standard, replicable operating procedures that guide multistep processes. Users can create conditional logic and required steps, or tap hundreds of templates designed to fit the needs of industries and departments like human resources, sales and marketing, and help and service desks.
Pipefy further automates repetitive and monotonous work with autofill, prebuilt forms, and intra-service connections with over 500 apps such as Slack, Pipedrive, and Zendesk. Within the platform’s card-based and collated dashboards, admins can program automations that update fields when an action triggers the response, or take advantage of email features that send messages whenever cards enter or leave a phase. A centralized database stores information like customer, supplier, and product records, and access controls let admins restrict access to sensitive information (mainly by setting different permission levels or marking certain pipes as private).
Pipefy optionally keeps tabs on productivity companywide, by individual division, and by employee with a sophisticated metrics tracker, and it provides a monthly, weekly, and daily calendar view of ongoing tasks and subtasks. Advanced reporting tools allow admins to filter and combine processes’ information and save the resulting audits so they can be accessed at any time, and Pipefy’s SLA management feature helps track the progress of standard-level agreements from start to finish.
Pipefy counts companies in over 150 countries among its customer base, including Santander, Accenture, IBM, TEDx, Capgemini, EmblemHealth, GE, and Telefonica. Alionço says it’s growing at over 300% annually in a range of segments, from small businesses and venture-backed startups to large corporations.
Pipefy offers a free plan, but the cheapest paid plan (which starts at $9 per user per month) unlocks reports and data filters, unlimited pipe connections, chat support, late and expired cards, and more. The $18 per user per month Business subscription adds admin controls, field conditionals, data recovery, API access, and private pipes. And Pipefy’s variably priced Enterprise tier comes with two-factor authentication, a custom email domain, single sign-on, Google Apps authentication, scaled database records, and more.
“Today, Pipefy is revolutionizing workflow management while creating the operating system of tomorrow for growing enterprises,” said Trinity Ventures general partner and Pipefy board member Karan Mehandru. “The technology is built with a product-first approach and has been adopted by end-users who just want to make things work. Agile and Lean have already disrupted the product development space; Pipefy brings this capability to entire enterprises, enabling organizational transformations using Lean management concepts.”
Pipefy, which was originally based in Brazil before relocating its headquarters to San Francisco, also has offices in Curitiba, Brazil and Austin, Texas.