• Thunkable, a no-code mobile application building platform, raised USD 30 million in Series B funding led by Owl Ventures with participation from Lightspeed Venture Partners, NEA and PJC, the DJ Diplo, and Sky9 Capital, among others. This round brings the company’s total funding to USD 41 million.

• The funds will be used to invest in product development (including more tools to build Android and iOS apps), a larger marketplace for third-party creators to add their own templates, and an expansion in scope to enterprise use cases such as building internal applications.

<ul><li> Analyst QuickTake: Thunkable is the third no-code mobile app building platform in our coverage to receive funding in 2022, following Lumavate’s ( USD 6 million ) and Vajro’s ( USD 8.5 million ) funding rounds in January. Thunkable is the most established of its peers in the customer-facing mobile app development space, comfortably being the highest funded compared to Lumavate and Vajro, who have USD 15.3 million and USD 8.5 million in total funding, respectively. However, as the company ventures into business app development, it is likely to face stiff competition from Lumavate and Vajro, who are both already active in the segment. Lumavate already serves large clients such as Roche; Vajro serves over 2,000 enterprise clients as of January 2022.</ul>