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Hong Kong SaaS firm Coherent raises $75M Series B led by Maverick Capital

Thursday, April 28, 2022

(Technode Global by Staff Writer) - Coherent, a Hong Kong-based no-code software-as-a-service (SaaS) provider, announced Wednesday it has closed a $75 million Series B funding round led by Maverick Capital, including Maverick Ventures, with participation from Owl Rock, a Blue Owl division, GreatPoint Ventures, and existing investors Cathay Innovation and Franklin Templeton.

This round, which brings Coherent’s total funding to $89 million, will support the continued expansion of Coherent across the global insurance industry and capitalize on the momentum in new industry verticals, such as capital markets, banking, and asset management, Coherent said in a statement.

The investment will also allow the company to meet increasing demand by fueling the growth of product, engineering, and sales teams in the U.S. and Asia-Pacific regions, onboarding additional services partners, and deploying out-of-box connectors with leading enterprise and SaaS solutions.

Coherent is a global software-as-a-service (SaaS) company redefining how business and information technology (IT) teams build software together. Its core technology Spark automatically converts any business logic within a spreadsheet – such as rules, formulas, and data models – into an Application Programming Interface (API) that can easily connect to other front- and back-end applications.


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