1 00:00:02,520 --> 00:00:09,799 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. You're listening to Bloomberg 2 00:00:09,880 --> 00:00:15,120 Speaker 1: Business Week with Carol Masser and tim Stenoveek on Bloomberg Radio. Carol, 3 00:00:15,160 --> 00:00:16,680 Speaker 1: did you catch this story in the New York Times 4 00:00:16,680 --> 00:00:19,639 Speaker 1: over the weekend? I might have the computer science grads 5 00:00:19,640 --> 00:00:20,920 Speaker 1: they're having trouble getting jobs. 6 00:00:21,000 --> 00:00:23,079 Speaker 2: I am amazed at some of the stuff that's going 7 00:00:23,120 --> 00:00:24,640 Speaker 2: on and how quickly it's changed. 8 00:00:24,680 --> 00:00:26,439 Speaker 1: So like ten years ago, we were all told to 9 00:00:26,480 --> 00:00:28,920 Speaker 1: go learn how to code. You can get these great jobs, 10 00:00:29,200 --> 00:00:31,120 Speaker 1: entry level jobs, and some of the biggest tech firms 11 00:00:31,240 --> 00:00:35,120 Speaker 1: hundreds of thousands of dollars a year. Yeah. The Times 12 00:00:35,120 --> 00:00:37,160 Speaker 1: profiled this twenty five year old is a computer science 13 00:00:37,159 --> 00:00:40,320 Speaker 1: major at Oregon State University. He's applied to more than 14 00:00:40,440 --> 00:00:45,879 Speaker 1: fifty seven hundred jobs. He's received thirteen interviews and no 15 00:00:46,040 --> 00:00:49,280 Speaker 1: job offers. He was actually rejected from McDonald's because of 16 00:00:49,280 --> 00:00:50,280 Speaker 1: a lack of experience. 17 00:00:50,760 --> 00:00:52,960 Speaker 2: That's amazing. Yeah, So it makes me think that the 18 00:00:52,960 --> 00:00:54,960 Speaker 2: people who are out there that are all looking have 19 00:00:55,080 --> 00:00:57,480 Speaker 2: tons of experience, so those people who are just kind 20 00:00:57,480 --> 00:00:58,760 Speaker 2: of out don't even have a chance. 21 00:00:58,880 --> 00:01:01,560 Speaker 1: Yeah. I had this conversation some executives who are involved 22 00:01:01,560 --> 00:01:03,520 Speaker 1: in AI just in the last couple of days at 23 00:01:03,520 --> 00:01:05,680 Speaker 1: this Bloomberg event and they were saying, it's entry level 24 00:01:05,840 --> 00:01:08,080 Speaker 1: right now, that's really seeing the effect of this. 25 00:01:08,440 --> 00:01:10,000 Speaker 2: But the thing is, and I don't know whether it's 26 00:01:10,040 --> 00:01:12,320 Speaker 2: AI or some other things that are going on, if 27 00:01:12,319 --> 00:01:14,600 Speaker 2: you can't get that entry experience, how can you forget 28 00:01:14,640 --> 00:01:17,480 Speaker 2: to be experienced and kind of move up the chain. Hey, 29 00:01:17,480 --> 00:01:19,480 Speaker 2: we're wondering what our next guest has to say about it. 30 00:01:19,959 --> 00:01:23,640 Speaker 2: Katherine Costareva, she thinks about it. She is CEO and 31 00:01:23,680 --> 00:01:27,160 Speaker 2: maging partner at Creatio. It's a customer relationship management company 32 00:01:27,480 --> 00:01:32,400 Speaker 2: sells software that automates workflows using no code and AI tools. 33 00:01:32,440 --> 00:01:34,520 Speaker 2: Catherine joining us from Boston. Good to have you back 34 00:01:34,560 --> 00:01:35,319 Speaker 2: with us. How are you. 35 00:01:37,160 --> 00:01:40,479 Speaker 3: It's good to be here back. Hello Carol, Hello Teams. 36 00:01:40,480 --> 00:01:41,760 Speaker 3: So nice meeting you today again. 37 00:01:41,880 --> 00:01:43,480 Speaker 1: Yeah, good to see you again. You know, I was 38 00:01:43,520 --> 00:01:45,720 Speaker 1: thinking of you when we were preparing for the segment 39 00:01:45,959 --> 00:01:47,720 Speaker 1: and about the way that we've been talking to you 40 00:01:47,760 --> 00:01:50,360 Speaker 1: for quite a bit of time about no code and 41 00:01:50,680 --> 00:01:54,360 Speaker 1: low code and AI. You guys were into this really early. 42 00:01:55,160 --> 00:01:58,000 Speaker 1: I'm wondering if you're seeing Yeah, I'm wondering if you're 43 00:01:58,040 --> 00:02:01,360 Speaker 1: seeing this the way it affects your business and the 44 00:02:01,400 --> 00:02:04,560 Speaker 1: way it affects your clients, because if you're able to 45 00:02:04,840 --> 00:02:07,760 Speaker 1: do things that previously coders were able to do with 46 00:02:07,800 --> 00:02:11,440 Speaker 1: actually having no computer science experience, then how is it 47 00:02:11,480 --> 00:02:12,480 Speaker 1: played out of Creatio? 48 00:02:13,760 --> 00:02:16,359 Speaker 3: Right? And as you can imagine, it is a phenomenal 49 00:02:16,360 --> 00:02:19,560 Speaker 3: opportunity here at Creatia and for us as a company 50 00:02:19,600 --> 00:02:22,480 Speaker 3: because we've been talking about no code for ten years now, right, 51 00:02:22,520 --> 00:02:25,160 Speaker 3: So the company was founded ten years ago and every 52 00:02:25,240 --> 00:02:28,640 Speaker 3: time we connected with both of you, I've been talking 53 00:02:28,680 --> 00:02:30,919 Speaker 3: about no code and this is the future. So here 54 00:02:30,960 --> 00:02:33,360 Speaker 3: it is the future has come, So we can be 55 00:02:33,400 --> 00:02:36,600 Speaker 3: more excited, but first and foremost because of the value 56 00:02:36,720 --> 00:02:40,320 Speaker 3: we delivered to our clients thanks to no code and AI. 57 00:02:40,880 --> 00:02:44,680 Speaker 3: So basically what we do at Creatio we combine no code, 58 00:02:44,800 --> 00:02:49,760 Speaker 3: visual design tools, and AI together to help them build 59 00:02:49,960 --> 00:02:53,760 Speaker 3: applications and automate workflows much faster than ever before. 60 00:02:54,760 --> 00:02:58,120 Speaker 2: So talk to us about the workflows that you guys 61 00:02:58,160 --> 00:03:02,520 Speaker 2: are most automating for your customers. What is it that 62 00:03:02,560 --> 00:03:04,559 Speaker 2: they want automated? 63 00:03:05,720 --> 00:03:09,560 Speaker 3: Absolutely, so, Creatia as a remind is a no code 64 00:03:09,680 --> 00:03:14,280 Speaker 3: agentic platform. When I say agentic, meaning that we automated 65 00:03:14,320 --> 00:03:18,480 Speaker 3: with applications but also with agents, and we automate CRM 66 00:03:18,600 --> 00:03:24,120 Speaker 3: mostly customer front office workflows, marketing, sales service, but also 67 00:03:24,240 --> 00:03:29,279 Speaker 3: middle office operations and workflows like customer onboarding, employee onboarding, 68 00:03:29,600 --> 00:03:31,480 Speaker 3: loan origination, all kinds of. 69 00:03:33,560 --> 00:03:36,400 Speaker 2: Okay, time out, time out here, all right, CRM Customer 70 00:03:36,440 --> 00:03:40,680 Speaker 2: Relationship Management. I understand helping companies deal with their customers, 71 00:03:40,680 --> 00:03:42,960 Speaker 2: but talk to us about onboarding. Is that means about 72 00:03:43,080 --> 00:03:45,720 Speaker 2: customer acquisition? Kind of break it down for us so 73 00:03:45,800 --> 00:03:48,040 Speaker 2: that somebody listening is like, oh, okay, that's what they 74 00:03:48,080 --> 00:03:48,960 Speaker 2: do for customers. 75 00:03:49,800 --> 00:03:53,760 Speaker 3: Oh absolutely. Just think about a bank or a credit union. 76 00:03:53,880 --> 00:03:56,680 Speaker 3: When you open a new account, for example, at a 77 00:03:56,680 --> 00:04:02,360 Speaker 3: credit union or a bank, the whole onboarding starts right KEYYC, 78 00:04:02,640 --> 00:04:06,560 Speaker 3: know your client and all different checks and compliance checks 79 00:04:06,560 --> 00:04:09,080 Speaker 3: and filling in all the data about clients and then 80 00:04:09,120 --> 00:04:12,400 Speaker 3: communicating with your clients. So all of that is automated 81 00:04:12,440 --> 00:04:16,400 Speaker 3: on the workflow platform of Creatia agantic platform, partially with 82 00:04:16,440 --> 00:04:20,240 Speaker 3: the help of agents today and this is what helps 83 00:04:21,080 --> 00:04:26,320 Speaker 3: in my example, banks growth efficiency and partially with traditional applications. 84 00:04:26,560 --> 00:04:29,440 Speaker 2: When does it help us customers? We customers, because man, 85 00:04:29,520 --> 00:04:32,680 Speaker 2: I am so tired of filling out so much stuff you. 86 00:04:32,800 --> 00:04:34,080 Speaker 1: Just have to remember your password. 87 00:04:34,320 --> 00:04:36,320 Speaker 2: I well, yeah, that's another thing, but you know what 88 00:04:36,360 --> 00:04:38,720 Speaker 2: I mean. Yeah, I feel like I'm constantly filling out 89 00:04:38,760 --> 00:04:41,280 Speaker 2: wherever I go, the same stuff over and over and 90 00:04:41,320 --> 00:04:41,839 Speaker 2: over again. 91 00:04:42,000 --> 00:04:44,080 Speaker 1: I want single sign on for everything. I will say 92 00:04:44,080 --> 00:04:46,960 Speaker 1: one thing that's great about working here, among many things, 93 00:04:47,000 --> 00:04:49,440 Speaker 1: is we have the single sign on technology. And I 94 00:04:49,440 --> 00:04:51,440 Speaker 1: think a lot of companies do. But it's like it 95 00:04:51,440 --> 00:04:53,160 Speaker 1: doesn't matter if we're logging into and I'm not going 96 00:04:53,200 --> 00:04:56,279 Speaker 1: to name the third party services, but you know them all. Yeah, 97 00:04:56,920 --> 00:05:00,160 Speaker 1: we use the same single sign on tech. How are 98 00:05:00,160 --> 00:05:01,880 Speaker 1: we doing that everywhere? I mean, that's not really within 99 00:05:01,880 --> 00:05:04,760 Speaker 1: your wheelhouse, but you could give me an answer just to. 100 00:05:04,680 --> 00:05:06,400 Speaker 2: Make it easier. But it just feels like more complicated 101 00:05:06,400 --> 00:05:07,800 Speaker 2: at least from this perspective. 102 00:05:08,640 --> 00:05:12,040 Speaker 3: And this is a wonderful question actually, because now we 103 00:05:13,600 --> 00:05:18,200 Speaker 3: dive into the security and compliance and governance questions which 104 00:05:18,200 --> 00:05:22,440 Speaker 3: are critical for all the enterprises globally, and if we 105 00:05:22,520 --> 00:05:26,120 Speaker 3: take regional specificity as well, like, for example, we have 106 00:05:26,320 --> 00:05:29,160 Speaker 3: many many clients in Europe, and in Europe, it's going 107 00:05:29,200 --> 00:05:32,880 Speaker 3: to be GDPR compliance right because of all the compliance 108 00:05:32,960 --> 00:05:36,080 Speaker 3: and regulations and layers and layers of that and that 109 00:05:36,200 --> 00:05:39,520 Speaker 3: is why creation is and enterprise software exists to help 110 00:05:39,600 --> 00:05:43,120 Speaker 3: you simplify all these processes as much as we potentially can. 111 00:05:43,560 --> 00:05:46,200 Speaker 2: And GDPR, of course, is the General Data Protection Regulation. 112 00:05:46,320 --> 00:05:49,920 Speaker 2: That's the European Union law that's focusing on protecting personal 113 00:05:50,000 --> 00:05:53,200 Speaker 2: data of individuals within the EU, and many say is 114 00:05:53,279 --> 00:05:56,120 Speaker 2: really setting the standards for the world like that is 115 00:05:56,200 --> 00:05:59,160 Speaker 2: kind of becoming the gold standard because they are super 116 00:05:59,320 --> 00:06:02,400 Speaker 2: superocused on protecting individual data. 117 00:06:02,440 --> 00:06:04,640 Speaker 1: Hey, Catherine, one thing I want to talk to you about, 118 00:06:04,640 --> 00:06:06,960 Speaker 1: because it's been quite a while since we spoke, is 119 00:06:07,160 --> 00:06:10,679 Speaker 1: just where you are as a business. Last I found 120 00:06:10,880 --> 00:06:14,520 Speaker 1: a bit over a year ago two hundred million dollars 121 00:06:14,680 --> 00:06:19,320 Speaker 1: round raise from venture capitalists including Sapphire Ventures and others 122 00:06:19,360 --> 00:06:23,320 Speaker 1: Horizon Capital as well, that was valuing the company at 123 00:06:23,320 --> 00:06:27,839 Speaker 1: one point two billion dollars. How's that give us an update? 124 00:06:28,000 --> 00:06:30,560 Speaker 1: Do you need to raise more money or you an IPO? 125 00:06:31,320 --> 00:06:34,280 Speaker 3: Oh, we absolutely not raised more money because we are 126 00:06:34,320 --> 00:06:37,279 Speaker 3: a capital efficient company. But team, you remember when we 127 00:06:37,680 --> 00:06:40,560 Speaker 3: spoke class time, it was around a year ago. I 128 00:06:40,600 --> 00:06:43,279 Speaker 3: shared with you that we raised this fund actually to 129 00:06:43,360 --> 00:06:46,600 Speaker 3: invest in AI. So that's exactly what we have been doing. 130 00:06:46,640 --> 00:06:49,280 Speaker 3: And the revenues of the company has grown since then 131 00:06:49,560 --> 00:06:53,440 Speaker 3: since this capital raise by forty six percent, So forty 132 00:06:53,520 --> 00:06:56,440 Speaker 3: six percent capital efficient growth. So this is what we 133 00:06:56,600 --> 00:06:57,200 Speaker 3: leave our first. 134 00:06:57,200 --> 00:06:59,720 Speaker 1: So you're you're never you never have to go back 135 00:06:59,760 --> 00:07:01,760 Speaker 1: to venture capitalists to raise more money. 136 00:07:02,839 --> 00:07:05,600 Speaker 3: Oh, we are absolutely not. We actually even a year 137 00:07:05,640 --> 00:07:07,560 Speaker 3: ago when we had a conversation, we're not in this 138 00:07:07,640 --> 00:07:10,920 Speaker 3: situation then we needed this money. We just wanted to 139 00:07:11,080 --> 00:07:15,560 Speaker 3: clearly articulate to the market that issue is unicorn and 140 00:07:15,600 --> 00:07:17,280 Speaker 3: continues to grow very very fast. 141 00:07:17,320 --> 00:07:18,440 Speaker 1: So next stop IPO. 142 00:07:19,840 --> 00:07:21,720 Speaker 3: We'll see how it goes well. 143 00:07:21,760 --> 00:07:24,920 Speaker 1: I mean, this environment seems to be pretty good for ipoing. 144 00:07:25,280 --> 00:07:27,360 Speaker 1: What would a timeline be like, what would what needs 145 00:07:27,360 --> 00:07:30,760 Speaker 1: to happen at at the company before at IPOs? 146 00:07:31,240 --> 00:07:33,920 Speaker 3: We need to keep up this growth rate, and from 147 00:07:34,000 --> 00:07:36,160 Speaker 3: what we're seeing right now, the demand is there and 148 00:07:36,200 --> 00:07:39,400 Speaker 3: the technology we delivered because because again it is a 149 00:07:39,520 --> 00:07:44,080 Speaker 3: getic platform and we raise efficiency for our clients significantly, 150 00:07:44,440 --> 00:07:46,840 Speaker 3: the demand is there. So we need to deliver this 151 00:07:47,000 --> 00:07:49,880 Speaker 3: growth rates that we've been delivering over the last several years. 152 00:07:49,960 --> 00:07:52,520 Speaker 1: How long do you need to continue this growth rate 153 00:07:52,560 --> 00:07:55,360 Speaker 1: in order to be comfortable tapping the capital market. So 154 00:07:55,400 --> 00:07:56,800 Speaker 1: we're not going to be talking to you about an 155 00:07:56,840 --> 00:07:58,600 Speaker 1: IPO until twenty twenty seven. 156 00:08:00,520 --> 00:08:03,280 Speaker 3: Maybe maybe twenty twenty six. We'll see how it goes. 157 00:08:03,520 --> 00:08:05,200 Speaker 1: Okay, we got somewhere. 158 00:08:05,320 --> 00:08:07,160 Speaker 3: I love I love heathern. 159 00:08:07,200 --> 00:08:09,480 Speaker 2: One thing I want to ask you, who are your customers? 160 00:08:09,640 --> 00:08:14,000 Speaker 2: And I'm curious, based on the business flow that you 161 00:08:14,040 --> 00:08:16,760 Speaker 2: are seeing from them, what does it tell you about 162 00:08:16,800 --> 00:08:18,440 Speaker 2: the global economy? What does it tell you about the 163 00:08:18,520 --> 00:08:19,240 Speaker 2: US economy? 164 00:08:20,200 --> 00:08:24,280 Speaker 3: Okay, brilliant. So we operate in one hundred countries and 165 00:08:24,400 --> 00:08:28,840 Speaker 3: we mostly serve mid sized and large organizations, organizations who 166 00:08:28,880 --> 00:08:32,520 Speaker 3: have at least one hundred million in revenues. Why because 167 00:08:32,559 --> 00:08:36,600 Speaker 3: they already get into this complexity with workflows and customer 168 00:08:36,640 --> 00:08:41,240 Speaker 3: relationships and they have very complex infrastructures. So to make 169 00:08:41,320 --> 00:08:44,520 Speaker 3: their life easier and again to automate their work with 170 00:08:44,640 --> 00:08:48,160 Speaker 3: AI agents, that's who we target. That's who we mostly 171 00:08:48,400 --> 00:08:53,320 Speaker 3: work with, mid sized and large organizations globally. We have 172 00:08:53,440 --> 00:08:57,559 Speaker 3: clients in the Middle East, in Australia. In fact, today, 173 00:08:57,920 --> 00:09:00,600 Speaker 3: just today in jia Karta in Indiania, we had a 174 00:09:00,600 --> 00:09:04,400 Speaker 3: big no code day. Six hundred people came our clients 175 00:09:04,440 --> 00:09:08,280 Speaker 3: from the region, not only Indonesia, but APEC region. So yes, 176 00:09:08,360 --> 00:09:13,199 Speaker 3: this is a global operations that we provide to our clients. 177 00:09:13,280 --> 00:09:16,600 Speaker 2: So what does it tell you with that perspective advantage 178 00:09:16,600 --> 00:09:18,840 Speaker 2: point about what's going on in the global economy and 179 00:09:18,880 --> 00:09:21,080 Speaker 2: what's going on? How much of your businesses to the US. 180 00:09:22,440 --> 00:09:25,400 Speaker 3: Oh, that's our biggest market by far. Of course, the 181 00:09:25,480 --> 00:09:30,119 Speaker 3: company is headquartered and was founded here in Boston headquarters. 182 00:09:30,240 --> 00:09:33,240 Speaker 2: So tell me what your perspective is, just briefly, the 183 00:09:33,240 --> 00:09:36,079 Speaker 2: global economy in the US economy, how would you describe it? 184 00:09:38,480 --> 00:09:41,439 Speaker 3: Listen, with all the recent changes in the economy, it's 185 00:09:41,480 --> 00:09:43,640 Speaker 3: not the easiest time for our clients, I can tell 186 00:09:43,679 --> 00:09:46,600 Speaker 3: you that. And again this is another reason what we're 187 00:09:46,640 --> 00:09:48,920 Speaker 3: seeing on the market, what we're seeing in terms of 188 00:09:48,960 --> 00:09:53,240 Speaker 3: budgets for technology, everyone is cutting costs and everyone is 189 00:09:53,400 --> 00:09:56,680 Speaker 3: looking for the most efficient solutions, something that will immediately 190 00:09:56,720 --> 00:10:00,520 Speaker 3: provide the ROI. So time to value. Like clients today, 191 00:10:00,720 --> 00:10:04,040 Speaker 3: organizations today, because of the global economy, they have to 192 00:10:04,080 --> 00:10:07,079 Speaker 3: be very very efficient in all their operations. That is 193 00:10:07,120 --> 00:10:10,040 Speaker 3: why on our market, our buyers they are very very 194 00:10:10,600 --> 00:10:14,640 Speaker 3: kind of cautious about time to value. If we purchase 195 00:10:14,720 --> 00:10:17,920 Speaker 3: and when we implement your software, how fast we will 196 00:10:17,960 --> 00:10:21,000 Speaker 3: be getting this ROI. We will be getting the efficiency 197 00:10:21,280 --> 00:10:24,600 Speaker 3: from your software, and this is our primary focus in 198 00:10:24,640 --> 00:10:26,480 Speaker 3: all our collaboration with clients. 199 00:10:26,760 --> 00:10:28,880 Speaker 2: All right, we're going to leave it on that note. Catherine, 200 00:10:28,880 --> 00:10:30,560 Speaker 2: thank you so much. Good to check in with you. 201 00:10:30,880 --> 00:10:35,000 Speaker 2: Stay well, Catherine coast Reva. She is the CEO Managing 202 00:10:35,000 --> 00:10:37,720 Speaker 2: Partner at Creatia, joining us from Boston.