Unqork IPO: Will This No-Code Platform Company Be a 2021 Unicorn?
Will Unqork IPO in 2021? Recently, this startup was chosen as a possible 2021 unicorn. And the rumors of it going public have investors looking for Unqork stock.
But is Unqork going public? Here’s what we know…
Unqork IPO: The Business
CEO Gary Hoberman founded Unqork in 2016. It’s a startup software company. Unqork provides a cloud-based no-code platform. It lets companies build, deploy and manage applications, all without writing a single line of code. Unqork claims this creates a faster, simpler and more cost-effective process.
Some of Unqork’s clients include the District of Columbia, New York City, Goldman Sachs (NYSE: GS), Liberty Mutual and Nationwide. But the company is also creating a new philanthropic program called Unqork Forward. It’s for small and midsize businesses. The program offers grant recipients access to the platform to digitize operations, return employees to work and drive revenue.
Recently, analysts placed Unqork at the center of the “no-code movement.” And that’s why investors are looking for the startup to announce an Unqork IPO. But what is the no-code movement? And is Unqork stock really a possibility?
The No-Code Movement: Unqork’s Platform
The no-code movement is simply that: no code. It promotes tools that let people with no knowledge of coding create applications. No-code tools provide a visual platform where users can use methods such as drag-and-drop.
On Unqork’s website, the company describes its platform as “Everything you need to build complex software on a single platform, in a completely visual environment, with enterprise-grade security and scale.” Let’s take a look at the four core features of Unqork’s platform.
Build. The platform uses an entirely visual interface for users to build complex applications. It has a component library with industry-specific templates. Users can build business rules, send messages and assign work to specific roles or automated tasks. Users can also move data out of their system for analysis.
Integrate. The platform can be integrated with everything from legacy systems to current APIs. It uses a plug-in component for easy configuration. Unqork also has a turnkey system to process paper, formatting data to be machine-readable.
Manage. Unqork allows you to keep version control and reversion capabilities. That means no matter how far you’ve come in the project, you can go back to any step. The platform provides a system structure for staging, testing and production. Users can monitor application performance, find problems and improve efficiency.
Secure. Users can encrypt data to and from the application, track an audit trail and create versions of data that can’t be edited. The platform also has role-based access control to manage user access to certain tasks and processes.
Unqork’s platform is one of the most developed no-code tools today. If there is an Unqork IPO, the company is well-positioned in a growing industry. But there are some risks for Unqork stock.
Unqork Stock: Industry and Market
Low-code and no-code systems are increasingly growing in popularity. But there are quite a few players in the field, such as Microsoft (Nasdaq: MSFT), Salesforce.com (NYSE: CRM) and Oracle (NYSE: ORCL). There are also some growing startups such as Zoho and Quick Base. And as the industry grows, so will the number of players looking to take advantage of the opportunity.
According to Prescient & Strategic Intelligence in August 2019, the low-code market had a value of $5.6 billion in 2018. It’s expected to grow to $52.3 billion in 2024. And Grand View Research forecasts revenue of $86.2 billion in 2027. In 2019, the large enterprises segment of the industry accounted for 70% of the market. But analysts expect the small and medium enterprise segment to grow at a compound annual growth rate (CAGR) of 23.3% from 2020 to 2027. This is partly due to the coronavirus’s impact on digital operations, highlighting its importance in today’s world.
As a result of society’s continued movement towards no-code platforms, Unqork is strategically placing itself to grab a large portion of the market. Even with the increasing competition, the market size should allow for healthy growth. Hoberman commented…
At Unqork, we pride ourselves in fearlessly taking on huge challenges with our customers. That’s an important characteristic to have when your mission is to completely change the way enterprises create software by offering a better way without code. The same scale that cloud computing brought to infrastructure, Unqork is now bringing to all enterprise software in every industry. That places Unqork in a unique position to capture the $500 billion wasted annually on custom enterprise code.
Will Unqork IPO?
Unqork recently announced the end of its Series C funding led by BlackRock (NYSE: BLK). The company raised $207 million, for an increased valuation of $2 billion. It will use the funds to grow its sales force, invest in the company’s technology, and expand training and partnerships worldwide. Unqork operates in North and South America and recently expanded into the EMEA markets, opening a London office. Unqork also reported triple-digit revenue growth for the third year in a row.
There are currently no plans for an Unqork IPO. The rumor of possible Unqork stock is speculation. But the company recently hired CFO Dan Murphy, showing that it could be making moves in preparation for an offering.
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Will Unqork be a 2021 unicorn? Despite its increasing growth, Unqork is still a young company. So it seems unlikely that Unqork stock will trade on the market anytime soon. But investors should keep an eye on it. When the company does announce an Unqork IPO, it could be an interesting opportunity.
About Amber Deter
Amber Deter has researched and written about initial public offerings (IPOs) over the last few years. After starting her college career studying accounting and business, Amber decided to focus on her love of writing. Now she’s able to bring that experience to Investment U readers by providing in-depth research on IPO and investing opportunities.