WalkMe Scores $40M Series F Funding
SAN FRANCISCO, CA, WalkMe today announced it has raised $40 million in Series F financing.
WalkMe, the world first Digital Adoption Platform and one of the fastest-growing software companies globally, today announced it has raised $40 million in Series F financing, led by Insight Venture Partners, with participation from WalkMe's first institutional investor, Mangrove Capital Partners. WalkMe has raised $207.5 million to date.
WalkMe enables leading enterprise organizations to achieve a successful digital transformation by maximizing the use of their digital assets. By engaging users and providing an optimal user experience, WalkMe ensures that companies of all sizes gain unprecedented productivity improvements for employees and customers using artificial intelligence, real-time analytics, and automation technologies.
The latest round of financing will allow WalkMe to continue its hyper-growth worldwide and continue to dominate the digital adoption category it created. WalkMe is looking to expand and localize its offerings in new markets such as Asia Pacific and Europe, while continuing to invest in securing multinational customers. WalkMe has nearly 2,000 customers worldwide, including over 30 percent of the Fortune 500.
WalkMe also plans to further invest in expanding its solution offering through additional technology acquisitions. WalkMe has made three acquisitions to date to support its vision - machine learning company DeepUI in June 2018, visual analytics company Jaco in April 2017, and native mobile AI company Abbi in January 2017.
"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," said Dan Adika, co-founder and CEO of WalkMe. "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."
The company has close to 660 employees located in seven offices worldwide in the U.S., Europe and APAC. WalkMe's recent expansion into a larger office in Raleigh, North Carolina, underscores the company's rapid growth as it continues to pioneer the digital adoption space for high-growth customers. WalkMe has recently been recognized in Forbes' Cloud 100 list, and as one of the "Hot 100" privately-held software companies by JMP Securities.
"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. "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."
WalkMe pioneered the Digital Adoption Platform (DAP) to transform the user experience in today's overwhelming digital world. Using artificial intelligence, engagement, guidance and automation, WalkMe's transparent overlay assists users to complete tasks easily within any enterprise software, mobile application or website. Founded in 2011, WalkMe software is used by nearly 2,000 enterprises globally, including 30 percent of Fortune 500 companies. For more information, visit https://www.walkme.com/.
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