PE Tech Report


Like this article?

Sign up to our free newsletter

Toca secures GBP2m extension to seed funding

Toca, provider of no code apps and automation fabric, has raised an additional GBP2 million of funding from private investors – an extension to the GBP1.4 million raised in a 2018 seed round. 

Toca, provider of the world’s first no code apps and automation fabric, is today announcing GBP2 million of funding from private investors – an extension to the GBP1.4 million raised since 2018.

The innovative Toca fabric disrupts the low code app development and traditional RPA markets, bringing these capabilities together into a single no code platform that works across any infrastructure and system. Woven in once and then reused many times, Toca removes integration challenges, reduces pressure on high coders and propels business transformation forward.
Organisations are under more pressure than ever to digitally transform. While RPA has been successful in helping businesses start this journey, the technology is built on ageing foundations, requiring time, money and high code developer skills to implement. Meanwhile, emerging no code application development environments often don’t enable integration with the legacy platforms that continue to underpin the vast majority of enterprises. With this GBP2m investment, Toca is set to disrupt both these markets, which are predicted to have a combined value of USD20 billion by 2027.
Toca allows companies to reimagine business processes. It goes beyond traditional RPA by integrating people through apps to deliver business transformation. Toca’s fabric is embedded into a business to enable control of any system, shaping of any data, automation of any process and rapid development of apps – from simple web portals to complex, logic-based applications. This addresses the problem of data silos between legacy systems and modern applications and APIs, by combining RPA and direct integration in a single no code platform. As the Toca fabric is threaded throughout the enterprise, digital transformation projects are delivered faster, at lower cost and with minimal technical debt.
“This GBP2 million of funding will enable us to accelerate business growth and build awareness of the transformational capabilities of a no code apps and automation fabric combination,” says Mat Rule, Founder and CEO of Toca. “Toca enables businesses to breathe and innovate. We’ve built the Toca apps and automation fabric to bridge legacy and cloud-native environments and address the integration problems that have plagued IT for decades. We are democratising application building so businesses can automate enterprise wide. This will help organisations shift from using technology to solve just 5 per cent of business problems, to finally address the remaining 95 per cent.”
Toca has built strong momentum since it was founded in 2018, achieving more than 257 per cent growth in FY21. The company has a roster of clients spanning the healthcare, legal, utilities, not-for-profit, retail and tech industries, and is using this new round of funding to strengthen and mature its own internal processes, bolster sales and marketing, and accelerate revenue growth.

Like this article? Sign up to our free newsletter