Pipefy raised US$75M for its tool

Pipefy, a “low-code” workflow management SaaS startup, issued a statement today announcing the completion of its US$75 million Series C funding round.

The funding round was led by SoftBank Latin America Fund with a US$50 million commitment, raising the total amount acquired by Pipefy since launching in 2015 to US$138.7 million.

Other institutional investors including Steadfast Capital Management, Insight Partners, and Redpoint eventures also made commitments towards the round. 

The San Francisco-based firm declined to disclose the valuation at which the funding was raised. However, it indicated that the round brings it “close to unicorn status.”

Pipefy initially had its headquarter in Brazil, and given that much of the startup’s R&D operations are still situated in the country, and it has a pronounced presence there, the firm was still considered for the SoftBank Latin America Fund.

In the clearest possible terms, Pipefy’s mission is to revolutionize workflow management. It has acquired over 4,000 corporate clients across the globe, including GE Healthcare, Lacoste, Magalu, electric truck maker Rivian, and Nubank, among others.