No‑code startups see hiring surge of 227%
The IPOs of Squarespace and Monday.com have sparked investor interest, with both companies outperforming their initial share prices. Squarespace, which debuted in mid‑May, ended its first day at $43.65 and reached $57.01 by July 2. Meanwhile, Monday.com, having debuted three weeks ago, saw its share price increase by 28.15% to $229.23 as of July 2. This success is part of a broader trend in the software as a service (SaaS) industry, particularly among no‑code startups. The public offering also turned Monday.com’s chief executive, Roy Mann, into a billionaire‑level shareholder, as the value of his six million shares surged past the billion‑dollar threshold.
No-Code Startups on the Rise
No‑code startups provide services that enable users to customize, build, or modify digital products without coding experience. Companies like Wix.com, Squarespace, and WebFlow offer site‑building services, while Monday.com specializes in workflows, and Figma in storefronts and apps. These six startups have raised a combined $1.518 billion in funding. Beyond website creation, no‑code platforms are beginning to appear in video‑game development pipelines and education‑software tools, expanding the reach of the movement into creative and learning environments.
The demand for these services has led to significant job growth. According to Thinknum data, job listings at these six companies have increased by 25% to 227% over the last two years. Wix.com leads the pack with 316 open listings, while Figma has seen the greatest percentage increase of 265%. Webflow’s hiring surge was amplified at the start of the year after a $140 million Series B round led by Accel and Silversmith Capital Partners, reinforcing its momentum in the competitive site‑builder space.
Headcount expansion mirrors the influx of capital, especially for still‑private firms. Figma’s workforce has more than doubled, while Webflow reported an 187% rise in employee numbers over the same period, showing how rapidly these companies are scaling to meet market demand.
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Investment in No-Code Services Booming
The money flowing into no‑code startups isn’t just a trickle; it’s a deluge. Figma, for instance, recently raised $200 million in a funding round that valued the company at $10 billion. This investment surge can be attributed, in part, to the rapid digital shift forced by the pandemic. Coding may be taught in schools, but the majority of the U.S. population still lacks coding knowledge. In this digital economy, services that enable people to build a digital presence without coding experience have a clear advantage.
These firms are now positioning themselves as direct competitors to established public software giants such as Adobe, whose products typically require a steeper learning curve. The competitive pressure has spurred speculation about potential acquisitions, as larger players seek to incorporate no‑code capabilities into their portfolios.
Analysts also note that the IPO wave may continue, with industry observers expecting additional public listings from other high‑growth no‑code companies. The combination of robust funding, expanding headcount, and widening application areas suggests a sustained upward trajectory for the sector.
Thinknum tracks companies’ performance using online data, including jobs, web traffic, and app ratings. While data sets may not be fully full, they can provide valuable insights into factors like hiring and sales. By aggregating information from social channels, product‑sales reports, and user‑generated ratings, Thinknum creates a composite view that helps investors gauge the health and momentum of these rapidly evolving businesses.
