Low code platform 3forge received funding from Morgan Stanley.
The amount of the round, which marked 3forge’s first external investment since it was founded in 2011, was undisclosed.
3forge will use the funds to fuel its global go-to-market strategy and expand its development community.
Low code platform 3forge has landed its first external investment round since it was founded in 2011. Morgan Stanley invested an undisclosed amount in the New York-based company.
3forge, which counts banks, hedge funds, asset managers, exchanges, and sovereign wealth funds among its clients, offers a low-code platform developers can use to build front-end, enterprise applications. The company is able to reduce development time, minimize maintenance costs, offer scalability, and ensure uptime because it built its own web server, database, and messaging layer from scratch in-house.
“We are thrilled to close on an investment by Morgan Stanley, a longstanding partner who truly understands the value and performance of 3forge technology,” said 3forge Founder Robert Cooke. “This is an exciting milestone as we continually expand our capabilities to help enhance client workflows and productivity.”
3forge will use the funds to accelerate its global go-to-market strategy and expand its development community.
3forge is known for its high-performance data visualization and application development platform. The company’s competitors include companies like Appian and OutSystems, which offer similar low-code solutions designed to streamline the development process. 3forge’s platform, however, differentiates itself because of its ability to handle complex data environments, an attribute that makes it a valuable tool for banks with large data volumes.
Low-code/no-code platforms became popular in fintech in the mid-2010s. Today, their use is changing how banks and developers build and deploy applications. That’s because they enable organizations to create custom solutions quickly–without the need for coding skills. This not only speeds up the development cycle but also reduces operational costs.
Banks need to make changes to their applications faster and more frequently than ever before, but there is a talent gap between banks that demand strong developer talent and the availability of developers. The promise of a low-code platform can help banks and fintechs adapt to evolving customer demands and regulatory requirements while limiting the need to hire new developer talent.
Photo by Sven Piper on Unsplash
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Conclusion:
3forge’s funding from Morgan Stanley marks a significant milestone for the low-code platform, signaling a vote of confidence in its technology and potential for growth. The undisclosed investment will enable 3forge to accelerate its global expansion and further develop its community of developers.
With its focus on high-performance data visualization and application development, 3forge is positioned as a key player in the low-code space, offering a unique solution for handling complex data environments. As banks and financial institutions increasingly turn to low-code/no-code platforms to streamline their development processes and meet evolving customer demands, 3forge’s capabilities stand out as a valuable asset in an ever-changing industry.
Looking ahead, the partnership with Morgan Stanley paves the way for exciting new opportunities for 3forge to enhance client workflows and productivity, driving innovation and efficiency in the financial services sector. As the demand for faster application development and deployment continues to rise, 3forge is well-positioned to lead the way with its cutting-edge technology and commitment to empowering developers worldwide.
