Adalo raises $8 million in series A round for product development and employment

SaaS News -Adalo-nabs-$8M(source: SaaS Industry)
At a Glance

Adalo, formerly known as Foundry, has raised an $8 million series A round with Oceans Ventures and OldSlip Group participation. Adalo is a no-code platform for creating cross-platform mobile and web applications.

Individual investors Jason Warner, Wade Foster, and Ben Tossell joined Oceans and OldSlip in Adalo’s newest fundraising round.   

According to co-founder and CEO David Adkin, the money will go into product development and employment and support the company’s go-to-market activities. Adalo currently has 20 employees. 

Adalo, named after the mathematician Ada Lovelace, provides drag-and-drop design tools for consumers to create apps. Users can choose from pre-configured modules or create their own, integrating with existing systems via database setups and APIs. It can assist update and track user data as well as add entries to databases. Furthermore, the platform can construct native apps for both iOS and Android.

Adkin told VentureBeat, “About five years ago, founders Ben Haefele and I were noticing just how quickly design tools were progressing and figured there had to be a way to create apps without coding. We decided to attack the problem from a different angle than everyone else, asking the question: what if instead of trying to make a programming language visual, we made design tools functional?”

He said that before Adalo was launched publicly in 2019, they created and sold apps to both new and established businesses using their platform. They recognized how solid and extensive the custom software they were developing for those businesses might be after seeing how beneficial it was, so they decided to pursue venture funding.

Adalo supports lists, text inputs, number fields, dropdowns, calendars, and navigation bars with customizable icons. Customers may integrate payment providers such as Stripe and develop dynamic dashboards that update automatically based on user data.

With an additional focus on education, Adalo also plans to create an academy to help its users throughout the entire app development process, from strategy to design and everything in-between. Finally, we’ll be expanding our Adalo Experts program to connect more freelancers and agencies with existing businesses.

David Adkin,
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