Toca secures £2m in private investment
Toca, provider of the world’s first no-code apps and automation fabric, is today announcing £2m of funding from private investors – an extension to the £1.4m raised since 2018.
Organisations are under more pressure than ever to digitally transform. While RPA has been successful in helping businesses start this journey, the technology is built on aging foundations, requiring time, money and high code developer skills to implement.
Meanwhile, emerging no code application development environments often don’t enable integration with the legacy platforms that continue to underpin the vast majority of enterprises. With this £2m investment, Toca is set to disrupt both these markets, which are predicted to have a combined value of $20bn by 2027.
“This £2m of funding will enable us to accelerate business growth and build awareness of the transformational capabilities of a no code apps and automation fabric combination,” said Mat Rule, Founder and CEO of Toca.
“Toca enables businesses to breathe and innovate. We’ve built the Toca apps and automation fabric to bridge legacy and cloud-native environments and address the integration problems that have plagued IT for decades. We are democratising application building so businesses can automate enterprise-wide. This will help organisations shift from using technology to solve just 5% of business problems, to finally address the remaining 95%.”
Toca has built strong momentum since it was founded in 2018, achieving more than 257% growth in FY21. The company has a roster of clients spanning the healthcare, legal, utilities, not-for-profit, retail and tech industries, and is using this new round of funding to strengthen and mature its own internal processes, bolster sales and marketing, and accelerate revenue growth.