Software is permeating every business process in both our personal and professional lives. The tens of trillions of GDP in the U.S. alone is undergoing a massive shift towards the use of software – every person, every process, every company, already runs or will run in software in the future. And while the growth in value from packaged software from companies like Salesforce, ServiceNow, Adobe, Snowflake, and others is valued in the trillions of dollars today, the market for internally built software has not caught up. With 9 out of 10 Global 2000 executives planning digital transformation initiatives (LTM Research), there is a huge gap between what packaged software vendors provide with their one-size-fits-all approach vs. what companies need to address in use-cases that are unique to their own businesses, users, and customers. As the scope of every company grows and software becomes the dominant engagement mechanism for companies, their users, and customers, the limited customization of packaged software vendors forces companies to adopt point solutions or build it themselves.
The need for internally-built software is growing exponentially, but the status quo approach of building internal software is expensive and takes significant time and effort. Forrester did a study that showed building a large-scale custom software product can take years to develop and still doesn’t meet the needs of end-users on day 1, thus creating expensive and burdensome ongoing maintenance costs. Moreover, developer resources are getting more and more scarce with the macro risks in our economy, companies can no longer spend precious developer time on building and maintaining internal tools. These compounding effects have created a massive market opportunity for a next-generation player. Forrester estimates the size of the internal software market was almost $150B in 2017 and that the low-code development software market was growing at almost a 60% CAGR (compound annual growth rate) through 2020. The need couldn’t be greater for a modern platform to change the way companies build and deploy internal software to serve their own businesses, users, and customers. Enter Superblocks.
Meritech is thrilled to announce our investment in Superblocks and support their mission of freeing up 1,000s of developer hours by bringing together the building blocks developers need to create internal software into a single, programmable platform. Superblocks offers a programmable set of building blocks for developers to build mission-critical custom internal apps, workflows, and scheduled jobs, at a fraction of the time and cost of legacy solutions or DIY approaches. A core differentiation is Superblocks’ focus on the developer as they are the builders creating and maintaining internal applications and where companies are currently spending the most time, effort, and dollars. Today, Superblocks announced their $37 million dollar series A to fuel their rapid growth and help developers and companies save countless hours on internal applications and advance their business goals. Superblocks has quickly become the backbone for mission-critical applications at hundreds of companies such as Motive, Payhawk, Papaya Global, and many others.
At Meritech, we exist to help teams build market-leading companies in the technology markets that matter, and we couldn’t be more excited about the Superblocks’ founders Brad and Ran, and the opportunity in front of them and the entire Superblocks team. We’re thrilled to be a small part of what is the first inning for Superblocks and their massive opportunity. Lastly, we’re convinced there is no better way to build and scale internal applications than Superblocks, so get started for free here. :).