QUALITY CLOUDS HAS SECURED A €1.2M ROUND FOLLOWED UP BY ADARA VENTURES.
As we continue to adapt to challenges borne from the Coronavirus pandemic, we’re excited to share our investment in Quality Clouds, demonstrating our ongoing commitment to backing the best European deeptech businesses.
Announcing our investment in Quality Clouds
Quality Clouds, a cloud-based software for the management of Low Code / No Code (LC/NC) platform customisation from Barcelona, Spain, recently announced that it had raised €1.2m from venture capital firm Adara Ventures. Quality Clouds resolves a complex problem in a high value, attractive market capitalising on the problems that arise from enterprise customisation of Low Code / No Code platforms. We are delighted to back Albert Franquesa and the team as they drive efficiency and security for enterprises around the globe.
What do Quality Clouds do and why did we invest? What is a Low Code / No Code platform?
Every large enterprise, regardless of its industry or geography, is now also a technology company. However, not every enterprise can invest in developing proprietary tech, given time pressure and resource constraints. The large majority instead adopt LC/NC platforms (e.g. Salesforce, Office365) where the sophisticated core development has already been completed. LC/NC platforms allow enterprises to quickly integrate technology across the organisation.
Use of LC/NC platforms represents a very large and fast growing market, expected to be worth $21.2 billion by 2022, up from $3.8 billion in 2017 (Forrester). By another measure, LC/NC platforms are expected to account for 65% of all application development by 2024 (Gartner).
Whilst the advantages of using such platforms are clear (time saving on developing an in-house comparative, security and privacy by design), there is a hidden cost associated to the configuration and customisation required to bring them into production for the enterprise. Custom code can make the platform less secure, less efficient or harder to upgrade in the future. This hidden cost is known as Technical Debt, and at present, IT Managers have no way of measuring it.
The Quality Clouds platform analyses at the code level and calculates Technical Debt generated by each line of code, helping IT Managers not only monitor development efficiency, but understand the impact of Developers decisions and react to them in real time. At the Enterprise level, in large scale deployments with multiple development teams, onshore and offshore, this single source of development truth helps optimise the usage and return on investment in software subscriptions.
For a deeper dive into why we invested, read our blog post, written by Ross by clicking here.
Nuevos informes y series de datos: El Capital riesgo Informal en España 2019 / Informe de Impacto Económico y Social del Capital Privado en las operaciones de Middle Market en España. 2018 (ASCRI) / Informe de Impacto Económico y Social de los préstamos otorgados por Enisa
Otros informes destacados: Madurez del Venture Capital en España. Hechos relevantes y detalle de más de 60 casos de éxito desde los años 90 hasta la actualidad… Also in english / Financiación de startups de Energía en España / El Préstamo Participativo como herramienta para el arranque de empresas en España / El tiempo de las desinversiones en Private Equity en España (Also in english)