True Altitude’s Investment in Tangle.io
We recently announced our pre-seed investment into low-code platform, Tangle.io. After managing and delivering their pre-seed round and EIS submission, their round became oversubscribed, with some exciting investors on board - and for a good reason.
Founded in 2018, Tangle has the ability to make application development faster, more integrated and more reliable, making the offering a highly valuable solution for many businesses. With multiple customers and their first partner deal secured, Tangle is ready to disrupt the trillion-dollar software market as the first open-source, low-code platform, offering simplicity and full developer power.
We only ever invest in innovative companies we know we can work closely with, taking a hands on approach to help them meet their goals. Perhaps even more uniquely in this case, we’ve seen first-hand the benefits the Tangle platform can provide, as they’ve supported the development of our portal build.
The Market Opportunity
Spending on enterprise software development was $503 billion in 2020, likely due to high license costs from SaaS and Enterprise software. All too often, these can’t be configured to meet specific business requirements, interrupting workflow and resulting in long implementation times. Consumer platforms like browser-based spreadsheets offer no extensibility and serve more as an IT-workaround. Similarly, application builders often leave developers frustrated by their experience.
According to research by Gartner, by 2024, low-code application development will be responsible for more than 65% of application development activity, and 75% of large enterprises will be using at least four low-code development tools for both IT application development and citizen development initiatives. With 30% annual growth, the low-code market is estimated to be $86 billion by 2027.
Recent trends continue to raise the bar, which in turn has led to software that is progressively complex, fragmented, slow and expensive. A driving force is the rise of ‘micro apps’ used by companies to add functionality on top of increasingly clunky existing legacy systems. In addition, there’s increased expectation from employees for the software they use to match the speed, mobility and social components of apps like Facebook. Tangle offers users a fast, simple and easy option, providing a solution to this challenge.
The Platform
Tangle provides users with customisation, giving them full design control to generate web and mobile applications, making application development faster, more integrated and more reliable.
Every application is automatically consumer-ready and enterprise-grade without the extra work. Developers and IT teams can fully extend with best practice components, standard code and tooling. Users can also automatically install and use any API to integrate with anything using simple scripts in orchestrated workflows.
What might otherwise take months can be done in a fraction of the time.
Final Thoughts
In the words of Marc Andressen “software will eat the world”. Demand for the low-code, usable developer experience continues to increase as software experiences exponential growth. Tangle is a disruptive product in the low-code market with a seasoned and charismatic software expert at the helm. It has the potential to be a leader in this market — it’s in the right place at the right time, and we’re delighted to be involved.
