Innoveo Records Record Growth in 2021 as Demand for Enterprise No-Code Accelerates

NEW YORK, Jan. 20, 2022 /PRNewswire/ -- Innoveo, a global technology firm and a pioneer in enterprise no-code technology solutions today announced a year of substantial growth, recording a year-over-year increase of over 75% growth in its licensing revenue, and witnessed a 50% growth in employee count. It added new offices in New Jersey, Puerto Rico and expanded its delivery center in Budapest.

Over the last 12 months, the company made major capability and technology upgrades to its no-code development platform, making it even easier for business users and IT alike to build complex workflows and enterprise applications with no-code leading to a 2x increase in its enterprise clients and exciting business enabling and business growth use cases. It includes creating market leadership in enabling end-to-end digital operating models and embedded business models leveraging its marquee platform Innoveo Skye®.

Following the $15M Series A fundraise in April, the company established Innoveo Inc's new HQ in the New York metro area while adding key leadership positions including President Vinod Kachrooand Chief Marketing Officer Ashish Jha.

"This has been a dynamic, fast-paced, and exciting year of growth for Innoveo," said Vinod Kachroo, President at Innoveo. "Enterprises across industries are embracing no-code as they realize the value that it can bring in enabling speed, agility, and efficiencies throughout the application development lifecycle. It helps them launch new business capabilities at the speed of thought and change rapidly as their market and customer needs evolve. We look forward to another banner year ahead."

About Innoveo

Innoveo is a cloud-based SaaS company and a pioneer in no-code technology. With our functionally rich no-code platform, Innoveo Skye® and our robust set of solution accelerators, we enable anybody across the enterprise to build their own applications in weeks - not months. Our mission is to empower enterprises in complex and regulated industries to re-imagine application development. Innoveo has a proven track record of enabling enterprises to unlock innovation, simplify technology landscapes, harness digital ecosystems, accelerate speed to market and deliver winning digital experiences at a fraction of a cost and without writing a single line of code. Innoveo has delivered over 500 applications and processed 1+ billion dollars' worth of transactions globally. For more information visit: www.innoveo.com.

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SOURCE Innoveo