Montréal-based Unito, which offers a workflow management software, has announced the closing of a $20 million funding round.
The financing was led by Caisse de dépôt et placement du Québec (CDPQ), with participation from new investors Rainfall Ventures and Investissement Québec, as well as existing investors Bessemer Venture Partners, angel investor and Williams family office CEO Tom Williams, as well as Mistral Ventures.
“As SaaS tools proliferate, companies are embracing integrations that bring tools together and power the cross-functional teams that are the future of work.”
– Marc Boscher, Unito CEO
Founded in 2015 by co-founders Marc Boscher (CEO) and Eryk Warren (CTO), Unito integrates disparate SaaS applications, enabling workflows that can function across a variety of tools, teams, and organizations. Its no-code, two-way integrations allow information to flow freely between platforms like Asana, GitHub, Google Sheets, Jira, Salesforce, and Trello.
“As SaaS tools proliferate, companies are embracing integrations that bring tools together and power the cross-functional teams that are the future of work,” said Boscher. “Unito’s integrations cut tool license costs, eliminate hours of manual copy and pasting, and empower teams to close projects faster and rapidly scale.”
According to Unito, this latest investment will go toward hiring talent and adding new integrations. Since 2020, Unito said that it has tripled its headcount to keep up with growing demand. It claims a user base of over 50,000 users at 7,000 companies worldwide with workflows in IT, project management, sales, spreadsheets, and software development, among others. Unito’s clients include the likes of Atlassian, Corpay, Teamwork, the Cincinnati Reds, and Wrike.
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CDPQ’s investment in Unito was made through Equity 253, CDPQ’s investment fund created to increase diversity and inclusion at growing companies. Unito noted that it achieved most of the Equity 253 diversity requirements for its board of directors, management team, and shareholding five years ahead of the deadline.
Unito said it also has a transparent pay structure and adjusts for gender-based salary disparities, improving its gender pay gap to four percent compared to an industry average of 11 percent.
In 2020, Unito raised $10.5 million CAD in Series A funding led by Jeremy Levine, a partner at Bessemer Venture Partners. It also previously closed $2 million in seed funding in 2018, and raised $575,000 in 2016.
Featured image courtesy Unito