Jitterbit is to extend its platform after it announced the acquisition of Zudy. Zudy provides an end-to-end enterprise development platform called Vinyl. It allows citizen or professional developers to build integrated enterprise apps without code. Zudy estimates that development costs are reduced by 90% and can help increase the speed of digital transformation.
For Jitterbit, this extends its hyperautomation capabilities that combine a fully developed low-code platform with its IPaaS capabilities. It will enable customers to build applications that connect and fully integrate their applications, whether on-premise or in the cloud. Neither party disclosed the terms of the deal. However, Zudy raised $7.5 million in a funding round led by Miami Stuff in 2014 (Source Crunchbase). ZoomInfo estimates its revenues at around $31.7 million, so this was not a small acquisition.
George Gallegos, CEO of Jitterbit, commented, “The acquisition of Zudy positions Jitterbit as the platform of choice in the low-code development space. In addition to the added scale and enhanced ARR profile, this acquisition further differentiates Jitterbit’s capabilities, while enhancing our ability to meet the app-development and automation needs of businesses across industries with offerings to serve both on-prem and cloud environments.”
More than a Startup
Founded by Tom and Trish Kennedy, Zudy has over 150 enterprise customers across more than 50 industries. Customers include private and public sector organisations. Among those is are the US Department of Defense and Otis Worldwide Corp who use the platform. iHeart Media leveraged Vinyl to create an application to efficiently search, book and manage qualified DJ talent for paid on-air Endorsement opportunities.
Brooks Brothers built a clienteling solution to eliminate cumbersome manual processes within a week. In total, customers have built over 3,500 applications using the platform. Combined with Jitterbit, the two solutions can provide automation to a wider set of organisations across more automation use cases.
Zudy has received recognition from G2 as one of the top 50 development products and has frequently been named on Constellation Shortlists for Enterprise Low-Code Tools and Platforms. Zudy has also formed partnerships with several major software firms, including SAP and Microsoft.
Tom Kennedy, Founder and CTO of Zudy, commented, “We created Vinyl to reduce the technology barriers required to build powerful, customized business solutions that easily integrate into and across the enterprise of our customers. Joining Jitterbit is the next phase of expanding our integration capabilities to empower companies across the globe to build and deploy the solutions they need in weeks, rather than months and years.
“We see this combination as the perfect match to meet the growing demand for faster, more powerful enterprise-level application development. Our shared vision with Jitterbit is to enable our customers to accelerate the pace of development and deployment of fully integrated business solutions.”
Enterprise Times: What does this mean
This acquisition makes sense. Hyperautomation is top of mind for many organisations as they look to bring together their hybrid application landscape. Integration technology complements low-code platforms, and each is more powerful with the other.
That Jitterbit has chosen to invest in Zudy rather than partner also makes sense. It allows it to control the roadmap better. It can also ensure that the solutions align and generate greater customer value. The acquisition also opens up the global low-code platform market. A market that Statista estimates was worth almost $22.5 billion in 2022 and will reach $32 billion by 2024 at a CAGR of 26.1%.
This acquisition will allow Jitterbit to extend its capabilities and reduce the time to value for its customers— important factors in a world filled with disruption and the need for agility and speed.