Process Street, which has developed no-code workflow builder, has raised a $12 million Series A led by Accel.
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Atlassian, Salesforce Ventures 1 and others also participated in the round.
Australian-born Vinay Patankar came up with the idea for Process Street when running a distributed marketing agency through contractors all over the world. The spreadsheets and project management tools were causing more problems than solutions, he said.
So, the concept behind Process Street was born. Initially, it was an internal tool to structure and manage internal workflows by doing things like documenting and tracking simple checklist-based processes for Patankar’s company.
But then Patankar teamed up with Cameron McKay to form a company based on that initial concept while both were staying at a hostel in Argentina.
Today, Process Street has evolved into “a fully-fledged no-code workflow builder with an easy-to-use interface that can handle almost any type of business process, from client implementation to employee onboarding and content approvals,” according to Patankar. And it does this by giving small-and-medium-sized businesses (SMBs) and enterprises the ability to create those workflows without having to write code. (Customers are mostly SMBs, with 10 to 20 percent being enterprises.)
The company services over 450,000 registered users – both free and paid – including enterprise customers like Colliers, Accenture, Spotify and Airbnb, as well as institutions like Columbia University and Johns Hopkins University.
“Process Street lets you build these workflows and plug them into other SaaS products, all without engineering,” Patankar told Crunchbase News. “It’s the same as a SAP workflow, for example, but for those you need an engineer to come in and design the flow, build integrations and connect the whole thing. Instead, we sell directly into sales or to a customer success manager.”
Over time, the company realized that remote team use was still a “pretty small market,” despite growing fast. So it began to focus on an even greater market–enterprises with distributed teams “looking to standardize and automate work across vast geographical areas.”
“So, while some of these companies are not technically remote, they have a lot of the same challenges as a larger, distributed team,” Patankar said.
As a fully distributed company itself, Process Street has 45 employees working across North America and Europe. It’s grown its revenue to the $3 million to $4 million range and previously raised about $3 million across two seed rounds.
The strategy
The choice of investors was largely strategic, according to Patankar. As part of the financing, Accel Partner Rich Wong will join Process Street’s board. Accel, Patankar said, made sense to lead the round considering its understanding of the SaaS space.
“process.st is a very intriguing story of a fully distributed team building no-code workflow tools for all types of other distributed teams around the world,” Wong told me.
The company’s customers integrate with hundreds of different SaaS products, and Salesforce, Trello and Jira are among the most popular, according to Patankar. As such, Salesforce Ventures and Atlassian were “obvious partners.”
“Process Street workflows are tightly integrated with other SaaS products and rely on the data and activity happening in these systems to automate work,” he said.
Looking ahead
Process Street’s ultimate goal “is to be the no-code workflow solution for teams everywhere.”
As part of that mission–and what some of its new capital will go toward–the company will be launching a mobile app, introducing more enterprise features and opening up greater API access so that users can control their data and build custom automations.
Process Street also has a large library of premade plug-and-play process templates created by its team, customers and partners. It plans to grow that library with the goal of making it “the largest repository in the world for all business processes and operational playbooks.”
Illustration: Li-Anne Dias
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