Leapwork is an information technology and software startup that offers a platform for accessible automation. It's a tech firm that has been making news in business circles recently with its recent infusion of venture capital funding that has delivered tens of millions for the growth and expansion of the European operation. If you're not familiar with this global tech enterprise, here are 20 things you probably didn't know about Leapwork.
1. Leapwork is a versatile company
Leapwork is first and foremost a tech company, but it falls under three major industry categories. It is an information technology company that provides software for its clients. It is powered by the latest in artificial intelligence technology that it uses to create its automated access platform that is vital for businesses to safely provide access to authorized users, according to Crunchbase.
2. Leapwork is a European startup
Leapwork was founded on June 5, 2015. It has been in operation for six years and is still a relatively new company. Its headquarters are located in Copenhagen, Hovestaden, Denmark. The company is also known as Leaptest, but the official legal name of the organization is Leapwork A/S.
3. Leapwork helps IT teams to make digital transformations
One of the most advantageous features of the Leap work platform is its visual approach that is codeless. It gives IT professionals and users to automate processes that are repetitive to adopt and scale automation more quickly. Its ease of use is one of the factors that makes it so popular. It provides confidence by offering a user-friendly platform that is secure and helps to make the digital transformation successful.
4. Leapwork is used by large enterprises
Leapwork has grown and expanded quickly in the short six years that it has been in operation. Large companies have signed on for the tech products and services that the company offers. It serves over four hundred global enterprises. These companies are distributed across all industry types from insurance companies to banks and others. Notable clients of Leapwork include Dimler, of the auto industry, BMP Paribas, PayPal, NASA, and others. The platform is adaptable and may be used in practically any type of business setting where digital transformation and automation are helpful.
5. Leapwork is a global enterprise
Although Leapwork is headquartered in Copenhagen, Denmark, it is considered to be a global company. Offices are distributed throughout key cities across the world. It's remarkable that in just six years of operation, Leapwork has expanded its network of offices across Asia, the United States, and various countries throughout Europe.
6. Leapwork uses a complex array of technologies
The technologies used to power the Leapwork website are complex, but they provide users with a smooth and seamless experience. The website uses a total of 45 technologies actively, which is distributed across 20 technology products and services. Some of these tech products and services include jQuery, Google Analytics, HTML5, Viewport Meta, SPF, iPhone Mobile Compatible, and several others. The overhead costs for these tech products often run into the tens of thousands of dollars per year or more.
7. Leapwork maintains an edge over its competitors
Leapwork has secured one registered trademark in the machines and machine tools category. This means that the intellectual property that is protected gives it uniqueness and helps it to stand out from companies that provide similar products and services.
8. Interest in Leapwork is increasing
The analytics maintained for the Leapwork website shows that the number of monthly visits made to the website is growing. Over the past 30 days, there have been 45,852 visitors to the website. This represents a monthly visits growth rate of 2.26 percent. The number of monthly visitors has resulted in Leapwork receiving a ranking of number 476,886 of the millions of websites registered on the world wide web.
9. Leapwork is the most popular in the United States
Although Leapwork is based out of Copenhagen, Denmark, it has received the highest percentage of web traffic from people living in the United States. Thirty-two percent of the website visitors are from this country which shows a 39.25 percent increase in monthly visits growth. Fifteen percent of the web traffic comes from people living in India. Twelve percent of the web traffic is from the United Kingdom, which also shows a 22.77 percent monthly visits growth. Eleven percent of the web traffic is from Germany and nine percent is from Vietnam.
10. Leapwork has a 3-member executive leadership team
There are three people in charge of the executive leadership of Leapwork. Although the team is small, they are dynamic and have led the company forward into a massive success. Claus Topholt is a co-founder and the chief product officer. Christian Brink Frederiksen is a co-founder and the chief executive officer. Beatrice Askaner is the CMO.
11. Leapwork has a strong management support team
The management support team that reinforces the executive team is comprised of four members. Mohit Dodwal is the partner alliance manager. Rishi Gaurav is the director and senior automation delivery manager. Jannik Sorensen is a senior software developer which is a non-management engineering position. Simon Renner is a business development representative in charge of non-management operations.
12. Leapwork has one board member listed
There is just one person listed on the board of directors for Leapwork. Christian Miele joined the board as a member in December of 2018. He is a partner at Headline. He has founded two organizations and he currently serves on six boards of directors in advisory roles. He brings years of experience in the business world to the job and provides advisement for strategic and financial planning to Leapwork key decision-makers.
13. Leapwork is an early-stage venture capital-backed organization
Leapwork has participated in two rounds of venture capital funding so far. This puts it in the category of an early-stage VC-backed organization. The most recent fundraising round closed on August 25, 2021. The Series B round of funding was funded by four investors including DN Capital and Kohlberg Kravis Roberts as the most recent investors to join in the efforts. The total amount raised is $71.8 million according to Techcrunch. The latest round brought in $62 million in funds. Other investors include Headline and Salesforce Ventures who kicked off the fundraising efforts with the initial Series A round. The Series B round was the largest round of fundraising in the history of Denmark.
14. Leapwork started as a bootstrapped company
Before investors became interested in helping the efforts to get Leapwork on its feet, it was touch and go. The company launched in 2015 and struggled financially to get itself established with the founders using their own money to get the business up and running. It was a bootstrapped operation that was dependent on funds that the owners had earned through other successful business exits, but more was needed to fully realize the potential of Leapwork. In 2019, they made a good pitch and piqued the interest of four investors, who invested $10 million in the Series A round, bringing in the needed funds to further expand the platform. The platform was officially launched in 2017 and found instant success in the market. It has grown its customer base across the globe.
15. Leapwork has a solid valuation
After Leapwork's most recent round of VC funding, it has gained in its post-money valuation in a meaningful way that allows the business to continue its growth and expansion. The current valuation is at $312 million. The future looks bright for the fairly new startup as it continues to make wise choices with its methodical expansion throughout the world, to maintain its status as a global company.
16. Leapwork's no-code tech is a disruptor in the industry
The creators of the technology that Leapwork employs established a platform that is different from its competitors. The tools provided allow for software testing to help quality assurance and test teams at companies more easily do their jobs. This no-code-tech simplifies the processes without compromising the integrity, security, or functionality. The software is designed to be accessible to non-technical staff which increases its applicability and utility providing clients with a time to market that is up to ten times faster. The stats also boast the potential for a 90 percent reduction in application errors and a 97 percent gain in productivity for clients. It's the vehicle for obtaining the fast track to digital transformations within an organization's existing mix of in-house skills. The no-code visual language is the single feature of the software that sets Leapwork apart from all of the others. It is the only technology of its kind that is currently being used by those who need it for non-technical staff that needs to have such access. This factor alone has resulted in a gain of a unique audience within the business world. It represents a new way of interfacing with information and manipulating it in more meaningful ways for the business professionals that benefit from these new streamlined methods.
17. Leapwork has plans to grow its workforce
According to LinkedIn, Leapwork currently employs a total of 155 employees throughout its global workforce. The new funds that have recently been brought in are in part, earmarked to grow and expand the current infrastructure by adding new members to the global team of workers. The $61.8 million investment will allow them to create new jobs and further expand their operations throughout key cities in the world. They're not quite to that point yet, as there are just 3 new job openings listed for Leapwork, but soon, there will be more positions available. The current listings are for two positions in Copenhagen, Denmark, and one in London, England. We fully expect to see a slew of new jobs within the year's end as Leapwork starts off the new year. There isn't much to hold them back now except for their strategic planning to target the best areas for the growth and development of the global network.
18. Leapwork is a privately held organization
Leapwork is still a privately owned company. Although the details of the investment agreements have not yet been disclosed, it is assumed that the investors have a specified stake in the future profits of the company as it continues to grow and become profitable. For now, at least, you won't find Leapwork stock shares available on any of the public stock exchanges. They've decided to keep Leapwork as a privately owned company. Our research has found no indication of any plans to go public as of yet.
19. Leapwork provides training webinars for clients
Another impressive feature offered by Leapwork is its help and assistance for new clients. They offer webinars that help users to become familiar with the full potential of the software solutions with interactive pieces of training that provide all of the information needed for successful integration and use of the products. This is a value-added bonus that extends to anyone who wants to become more familiar with the products, and for those who desire to obtain the most value from their use.
20. Leapwork is an organization to keep your eye on
So far, Leapwork is only open to investments from private investors, but you never know when the situation could change. We assume that as more investors come on board, they'll populate the board of directors with yet more advisors, providing insights into the best avenues for Leapwork to achieve lasting success in the business world. It's still uncertain whether or not an IPO could be in their future, but it's not something that has been ruled out either. It's a young company that has gotten off to a strong start. The forecast for its continued growth, expansion, and sustainability is good due to its uniqueness within the tech industry. It's a company to keep your eye on in the months and years to come.
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Written by Allen Lee
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