Coherent, a Tampa, FL-based provider of a no-code software-as-a-service (SaaS) platform that converts any business logic within a spreadsheet into an API, raised $75M in Series B funding.
The round was led by Maverick Capital, including Maverick Ventures, with participation from Owl Rock, GreatPoint Ventures, Cathay Innovation and Franklin Templeton.
The company intends to use the funds to expand across the global insurance industry, capitalize on the momentum in new industry verticals, such as capital markets, banking, and asset management, accelerate growth of product, engineering, and sales teams in the U.S. and Asia-Pacific regions, onboard additional services partners, and deploy out-of-box connectors with enterprise and SaaS solutions.
Led by CEO John Brisco, Coherent provides a software-as-a-service (SaaS) no-code platform, Coherent Spark, that automatically converts any business logic within a spreadsheet – such as rules, formulas, and data models – into an Application Programming Interface (API) that can connect to other front- and back-end applications.
More than 60 Fortune 500 global insurance companies and banks have already started using Coherent solutions. Furthermore, the company continues to amplify its impact with a growing technology and services partner network including Microsoft Azure, Amazon Web Services, Salesforce, Cognizant, Capgemini, Capco, and Synpulse amongst others.
FinSMEs
28/04/2022