Coherent, a global no-code software-as-a-service (SaaS) provider, has closed a $75 million Series B funding round led by Maverick Capital, including Maverick Ventures.
Owl Rock, a Blue Owl division, GreatPoint Ventures, and existing investors Cathay Innovation and Franklin Templeton, also participated.
Coherent’s annual recurring revenue grew more than 10x and its customer base quadrupled, now stretching over six continents, since the company’s Series A in November 2020. This round, which brings Coherent’s total funding to $89 million, will support the continued expansion of Coherent across the global insurance industry and capitalise on the momentum in new industry verticals, such as capital markets, banking, and asset management.
