# Leapwork
Leapwork is a Copenhagen-based software company that sells a no-code test and process automation platform to large enterprises; it was founded in 2015, is still operating as a private company as of 2026, and its largest reported funding event is a $62 million Series B raised in August 2021. The company (Leapwork ApS) positions its platform as a visual, flowchart-based way for non-programmers to automate software testing and business processes across web, desktop, SAP, Salesforce, and other enterprise applications.[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/)
| Key fact | Detail |
|---|---|
| Founded | 2015, Copenhagen, Denmark[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) |
| Founders | Christian Brink Frederiksen (now Chairman) and Claus Topholt (CPO & Co-Founder)[2](https://leapwork.com/about/) |
| What it sells | No-code visual automation for software testing and enterprise processes; a "Continuous Validation Platform" as of 2026[3](https://leapwork.com/blog/leapwork-announces-continuous-validation-platform/) |
| Largest funding round | $62M Series B, August 2021, co-led by KKR and Salesforce Ventures[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) |
| Valuation at Series B | $312 million post-money (about €265.1 million)[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) • [4](https://www.eu-startups.com/2021/08/copenhagen-based-leapwork-snaps-up-e52-6-million-for-its-no-code-software-test-automation-platform/) |
| Status (September 2026) | Operating; CEO Kenneth Ziegler; 2026 budget projects ~USD 38.4M revenue and a ~USD 13.1M net loss[3](https://leapwork.com/blog/leapwork-announces-continuous-validation-platform/) • [5](https://regnskaber.cvrapi.dk/xhtml/52242963/amNsb3VkczovLzAzLzAxL2RkL2VkL2RlLzU4MGEtNDU1My1iNjgwLTU1NzAyMTI0OGU4OQ.pdf) |
## History and founders
Christian Brink Frederiksen and Claus Topholt founded Leapwork in 2015 and bootstrapped it from proceeds of their earlier exits. The platform launched in 2017, a $10 million Series A followed in 2019, and by 2021 the company reported more than doubling its customer base year on year since launch.[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) At the 2021 round Frederiksen was CEO and Topholt chief product officer; the leadership changed in 2025, when the annual report records changes in the CEO role and Board leadership, and Frederiksen moved to Chairman while Kenneth Ziegler became CEO.[5](https://regnskaber.cvrapi.dk/xhtml/52242963/amNsb3VkczovLzAzLzAxL2RkL2VkL2RlLzU4MGEtNDU1My1iNjgwLTU1NzAyMTI0OGU4OQ.pdf) • [2](https://leapwork.com/about/) The company's leadership page as of September 2026 lists Ziegler as CEO, Topholt as CPO & Co-Founder, Rohit Raghuvansi as CTO, and Frederiksen as Chairman & Co-Founder.[2](https://leapwork.com/about/)
## How the platform works
Leapwork's core idea is that automation should be designed visually rather than coded. Topholt, who worked in enterprise IT at an international investment bank, described a "eureka" moment when he realized that flowcharts are an ideal way to describe a process: users record a process, and the platform breaks the workflow into graphical building blocks that can be connected without programming.[6](https://venturebeat.com/business/process-automation-startup-leapwork-nabs-62m) The platform uses robotic process automation (RPA) techniques to build, maintain, and scale workflows, and can run in the cloud or on-premises.[6](https://venturebeat.com/business/process-automation-startup-leapwork-nabs-62m) The company describes the platform as application-agnostic, spanning AI, web, desktop, mobile, mainframe, SAP, Oracle, Salesforce, Dynamics 365, Workday, and Citrix environments, both on-premises and in cloud.[3](https://leapwork.com/blog/leapwork-announces-continuous-validation-platform/)
## Funding and valuation
Leapwork's reported funding history has three equity events: founder bootstrapping before 2019, a $10 million Series A in 2019, and a $62 million Series B in August 2021 co-led by KKR and Salesforce Ventures with existing investors DN Capital and Headline participating. TechCrunch described it as Denmark's largest-ever Series B at the time.[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) The round implied a post-money valuation (company value after new investment is included) of $312 million, reported by EU-Startups as around €265.1 million.[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) • [4](https://www.eu-startups.com/2021/08/copenhagen-based-leapwork-snaps-up-e52-6-million-for-its-no-code-software-test-automation-platform/) The capital funded expansion into North America from a newly opened New York office.[4](https://www.eu-startups.com/2021/08/copenhagen-based-leapwork-snaps-up-e52-6-million-for-its-no-code-software-test-automation-platform/) KKR and Salesforce Ventures hold board representation, including a seat associated with KKR's Patrick Devine.[2](https://leapwork.com/about/) No equity round after August 2021 appears in the record; the most recent financing event in the sources is an October 2025 repayment of the Hercules loan and a refinancing with CIBC.[5](https://regnskaber.cvrapi.dk/xhtml/52242963/amNsb3VkczovLzAzLzAxL2RkL2VkL2RlLzU4MGEtNDU1My1iNjgwLTU1NzAyMTI0OGU4OQ.pdf)
## Business, customers and traction
By August 2021 Leapwork reported more than 300 customers worldwide, including PayPal, Mercedes-Benz, BNP Paribas, and [Accenture](https://www.edgepedia.org/accenture), and a team of about 170 people across nine offices.[1](https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/) • [6](https://venturebeat.com/business/process-automation-startup-leapwork-nabs-62m) The company's own claims on customer outcomes include 10X faster time to market, 97% productivity gains, and a 90% reduction in software application errors (2021), and, in its 2026 release, up to 75% faster test automation implementation, 50-70% less test maintenance effort, and up to 90% fewer functional defects reaching production; these are company-reported figures, not independently audited.[4](https://www.eu-startups.com/2021/08/copenhagen-based-leapwork-snaps-up-e52-6-million-for-its-no-code-software-test-automation-platform/) • [3](https://leapwork.com/blog/leapwork-announces-continuous-validation-platform/)
## Competitive position
At the 2021 Series B, Leapwork competed in an intelligent process automation segment that KBV Research projected would be worth $15.8 billion by 2025, against far larger rivals: UiPath had raised $2 billion to that point and [Automation Anywhere](https://www.edgepedia.org/automation-anywhere) had last raised at a $6.8 billion valuation, alongside [WorkFusion](https://www.edgepedia.org/workfusion), Redwood Software, Blue Prism, and others.[6](https://venturebeat.com/business/process-automation-startup-leapwork-nabs-62m) Leapwork's differentiation has been its visual no-code design language, aimed at business users rather than engineering teams. Since 2025 it has repositioned away from pure RPA comparison toward a "trust layer for enterprise software delivery," combining AI-powered test automation, [Playwright](https://www.edgepedia.org/playwright), performance testing, and enterprise governance.[2](https://leapwork.com/about/) The sources do not establish how Leapwork compares with test-focused rivals such as Testim, Mabl, Rainforest QA, or Katalon, nor what share of the market it holds.
## Recent developments
In 2024 Leapwork launched Leapwork-as-a-Service (LaaS), a fully hosted cloud deployment of its Windows-based platform, and built on a strategic partnership with Microsoft while targeting enterprise expansion in North America and Europe.[7](http://regnskaber.virk.dk/52242963/amNsb3VkczovLzAzLzcxLzgwL2FlL2IwLzkwZDItNDU1Zi1hZDJiLTgyMGU3NGYzNTdjNg.pdf) At the beginning of 2025 the company reorganized its operations, terminating 60 employees, and later that year it repaid its Hercules loan and refinanced with CIBC.[5](https://regnskaber.cvrapi.dk/xhtml/52242963/amNsb3VkczovLzAzLzAxL2RkL2VkL2RlLzU4MGEtNDU1My1iNjgwLTU1NzAyMTI0OGU4OQ.pdf) During 2025 it expanded the platform with Leapwork Performance and AI Studio and scaled its cloud offering.[5](https://regnskaber.cvrapi.dk/xhtml/52242963/amNsb3VkczovLzAzLzAxL2RkL2VkL2RlLzU4MGEtNDU1My1iNjgwLTU1NzAyMTI0OGU4OQ.pdf) On April 15, 2026 the company announced its Continuous Validation Platform, an agentic offering covering test automation, performance testing, and AI-native quality orchestration, with the AI-native module Leapwork Play entering Live Preview in early May 2026 and general availability targeted for June.[3](https://leapwork.com/blog/leapwork-announces-continuous-validation-platform/)
## References
1. "'No-code' process automation platform, Leapwork, fires up with $62M Series B," TechCrunch, 26 Aug 2021, https://techcrunch.com/2021/08/26/no-code-process-automation-platform-leapwork-fires-up-with-62m-series-b/
2. "About Us," Leapwork (company leadership page, retrieved September 2026), https://leapwork.com/about/
3. "Leapwork Announces Continuous Validation Platform," company press release, April 15, 2026, https://leapwork.com/blog/leapwork-announces-continuous-validation-platform/
4. "Copenhagen-based Leapwork snaps up €52.6 million for its no-code software test automation platform," EU-Startups, Aug 2021, https://www.eu-startups.com/2021/08/copenhagen-based-leapwork-snaps-up-e52-6-million-for-its-no-code-software-test-automation-platform/
5. Consolidated report 2025, Leapwork ApS (Danish CVR statutory annual report), https://regnskaber.cvrapi.dk/xhtml/52242963/amNsb3VkczovLzAzLzAxL2RkL2VkL2RlLzU4MGEtNDU1My1iNjgwLTU1NzAyMTI0OGU4OQ.pdf
6. "Process automation startup Leapwork nabs $62M," VentureBeat, Aug 2021, https://venturebeat.com/business/process-automation-startup-leapwork-nabs-62m
7. Leapwork ApS Annual report 2024 (Danish official filing), http://regnskaber.virk.dk/52242963/amNsb3VkczovLzAzLzcxLzgwL2FlL2IwLzkwZDItNDU1Zi1hZDJiLTgyMGU3NGYzNTdjNg.pdf
---
*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Business and work overview › Companies and corporations › Venture-backed startups and growth companies › Software, internet, and enterprise-technology startups › Developer tools and open-source software*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license