- General
- September 20, 2018
- 5 minutes read
Walkme raises $40 million at over $1 billion valuation
WalkMe Chief Information Security Officer Daniel Chechik image source : WalkMe WalkMe, A San Francisco based software-as-a-service company which provides tools…
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| WalkMe Chief Information Security Officer Daniel Chechik image source : WalkMe
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WalkMe, A San Francisco based software-as-a-service company which provides tools that assist users to navigate the features of other web based services has now raised $40 million in a Series F round led by Insight Venture Partners (IVP) with participation from Mangrove Capital Partners which stands as its first institutional investor in a bid to further its hyper-growth and domination of the digital adoption category it kicked off.
The company which has now raised $207 million in total counts this investment as its 3rd round led by Insight Venture Partners which notably led its previous Series D and E rounds where it raised a total of $125 million.
With nearly 2,000 global customers including 30% of the Fortune 500, WalkMe stands as a major player in the Enterprise Software scene with notable names among its customer lineup including Microsoft, Adobe, PayPal, Delta Airlines, Zuora, Upwork and Cisco among others.
Its software enables companies of all sizes to gain remarkable productivity improvements for both employees and customers through the application of artificial intelligence, real-time analytics, and automation technologies.
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| image source : WalkMe |
WalkMe is aiming to expand and localize its offerings in new markets while continuing to steer investments towards gaining multinational customers with this round providing more capital for the company.
“Digital transformation holds great promise, which is why most organizations today are highly engaged in their efforts. While the potential is huge, expectations are not met due to a reality of poor user adoption. Our customers are leveraging WalkMe’s Digital Adoption Platform to ensure their business transformation goals and expectations are met and exceeded,” Dan Adika, WalkMe co-founder and CEO said in a statement “This latest round of funding will help us grow at an even faster rate globally, while ensuring our leadership position in creating and forging the digital adoption category.”
With close to 660 employees across the U.S., Europe and Asia-Pacific, WalkMe aims for more expansion and growth for its operations as it scales its software ecosystem.
“WalkMe pioneered and developed the Digital Adoption Platform, with a bold vision of transforming the way users interact with technology, just like navigation systems (GPS) changed the way we drive. With WalkMe, users no longer need to learn or recall how to use any software, application or website,” said Roy Saar, partner at Mangrove Capital Partners which also participated in this round. “Although we are traditionally an early stage investor, we decided to take part in WalkMe’s growth round because we are witnessing how more and more of WalkMe’s customers see WalkMe as a strategic enabler of their digital transformation. We look forward to continuing our partnership with WalkMe as they continue to revolutionize the future of work.”
