In a significant move, no-code startup Softr has added Google Sheets to its integration list. This expansion of its capabilities is expected to increase its potential customer pool, as it can now tap into the vast user base of Google’s spreadsheet product.
Softr’s Rapid Growth
Before this expansion, CEOMariam Hakobyantold TechCrunch+ that her company grew its annual recurring revenue 3x from December 2021 to December 2022. This remarkable growth is a testament to the popularity and effectiveness of Softr’s no-code platform.
The Connection Between AI and No-Code
While AI tooling has been gaining significant attention in recent times, it shares an interesting connection with no-code – both are potentially great expanders of human capability. AI tooling can operate as a second brain for the digitally busy, while no-code services may allow non-developers to build the tools they need to complete their work.
Accessibility and Growth
Softr’s growth is also a testament to its accessibility. The company has seen its base of signed-up users grow from 35,000 to 150,000 in 2022, which is quite an impressive feat for a service that was initially Airtable-specific. Similarly, modern AI tooling has also become increasingly accessible, with market demand for LLM tooling at an all-time high.
The Power of No-Code
No-code and low-code platforms have been gaining popularity in recent years due to their ability to empower non-technical users to build software applications without extensive coding knowledge. Softr’s no-code platform is a prime example of this trend, allowing users to create custom applications without writing a single line of code.
Softr’s Burn Rate and Funding
The company has managed its 3x growth with only a doubling of its staffing, keeping a ‘very low’ burn rate. This efficient use of resources is a key factor in Softr’s success. However, this also means that the company doesn’t need external funding at the moment, making it a hot ticket for venture investors.
The Conundrum of Efficient Startups
When venture investors demand that startups get efficient to unlock external investment, they partially engender a class of companies that don’t need external funds. This creates a conundrum – when startups are too efficient and don’t need funding, it becomes difficult for VCs to invest.
Conclusion
Softr’s expansion with Google Sheets is a significant move in the no-code space, increasing its potential customer pool and solidifying its position as a leading player in the industry. The company’s rapid growth and efficient use of resources make it an attractive target for venture investors, but also create a conundrum – when startups are too efficient, it becomes difficult for VCs to invest.
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