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WalkMe Raises $50M

SAN FRANCISCO, CA, WalkMe secures $50 million in a Series E round.
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According to the website Geektime and to sources familiar with the company, Israeli online assistance platform toolkit provider WalkMe pulled in a whopping $50 million in Series E funding last month.

At this point, the company has been silent regarding the investment, releasing no information pertaining to the deal, including the identities of the investors. However reports are that the round has been closed now for a month, and the money is sitting comfortably in the bank.

Co-founded by CEO Dan Adika, COO Eyal Cohen, and President Rafi Sweary in 2012, the San Francisco-based startup works with clients to make the online experience even easier for users. They also maintain offices in Tel Aviv and Melbourne.

WalkMe's last funding round was in June 2015, when their Series D, led by Greenspring Associates, brought in $25 million. Among their other well known investors of recent rounds are names like Scale Venture Partners, Giza Venture Capital, and Gemini Israel Ventures.

Once confirmed, this round will more than double the company's current total raised over time of $42.5 million to an impressive estimated $92.5 million.

Over the past two years, WalkMe has shown significant growth and expansion, with five-fold annual revenue growth reported at the time of their last raise. They have caught the attention of big clients including eBay, with their technology that the company says helps reduce the need for customer support assistance, thereby improving onboarding rates and eventually conversions.

Plans for how to spend the cash will hopefully be made public once the company is more forthcoming on the details. However all signs point to a charge at an IPO, which could emerge as early as later this year.
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