Press Release: Turbo Systems Debuts with $8 Million Series A Round
Pleasanton, CA – February 25, 2019 – Turbo Systems, the first universal, no-code engagement platform, today announced an $8 million Series A funding round. Led by Mayfield, an investor in ServiceMax, Marketo, Moat, Outreach, Hashicorp, and several other leading SaaS/Cloud companies, the funding will be used to accelerate Turbo’s growth, through investments in engineering, marketing, and sales.
The shift to the cloud is accelerating; every industry is being transformed by software. This has created an incredible shortage of software developers, overwhelming IT departments. Turbo is the first universal, truly no-code platform enabling businesses to easily build custom applications that can be rapidly and seamlessly deployed to any user, including deskless and field-based workers. These applications drive high levels of user engagement to maximize adoption and productivity. Initially, Turbo is developing drag and drop, customizable application sets for industries with strong mobile and field workforces, including construction, healthcare, manufacturing, retail, and telecommunications.Research and Market projects the global low-code development platform market size to grow from$4.32 billion in 2017 to $27.23 billion by 2022.
“Turbo’s mission is to empower business users – who are closest to their workflows and possess the most operational knowledge – to create quick solutions that automate their processes, and create unprecedented productivity,” said Hari Subramanian, Turbo Systems Founder and CEO. “In the past, the biggest obstacle for businesses was knowing how to program or understanding the nuances of each system of record. Turbo was created as an agnostic, complementary platform, so users can drag-and-drop the applications their workers need, with no coding knowledge required.”
Turbo Systems was founded by Hari Subramanian, Co-Founder and former CTO of ServiceMax, a leading provider of cloud-based software for field service management and technology. Subramanian served as the company’s CTO for a decade prior to its acquisition by GE Digital in 2016 for $1 billion. Subramanian and his team founded Turbo with years of expertise and credibility in developing the agile, reliable applications that field service enterprises need and use to drive success.
“While ServiceMax was a great success and transformed field service by leveraging the cloud, Turbo Systems has the potential to disrupt the very nature of how applications are built, managed, and consumed––especially for the billions of deskless and mobile users worldwide,” said Rajeev Batra, Mayfield investor and Turbo Systems board member. “Turbo’s no-code platform promises to be as transformative to cloud and mobile software as Salesforce’s SaaS innovation was to on-premise software. We are delighted to partner with Hari Subramanian again to support and enable his incredible vision for the future of software.”
About Turbo Systems
Turbo Systems is the first universal, no-code engagement platform built to deliver immediate and lasting value for enterprises. Working across any and all systems of record, Turbo enables users to rapidly deploy the custom applications and automate the core functions that power their business. Turbo is built to seamlessly integrate and dynamically evolve with businesses’ operations, needs, and technologies, over time and in the field. Turbo is vendor- and system-neutral, extending the capabilities of systems of record, such as Salesforce and SAP, for businesses today and tomorrow.
Mayfield is a global venture capital firm with a people-first philosophy and $1.8 billion under management. Mayfield invests primarily in early-stage consumer, enterprise and health IT companies. Since its founding 50 years ago, the firm has invested in more than 530 companies, resulting in 116 IPOs and more than 200 mergers or acquisitions. Recent investments include HashiCorp, Lyft, Mammoth Biosciences, Marketo, Moat, Outreach, Poshmark, ServiceMax, and SolarCity. For more information, go to https://www.mayfield.com or follow @MayfieldFund.
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