Total amount raised
$2 Billions
Latest funding date
12/01/2019
Location
Title
WalkMe has successfully raised significant funding over multiple rounds, establishing itself as a key player in the digital adoption space. The platform offers comprehensive solutions to improve software usage, guide users, and automate tasks.
Keep reading to explore the intricacies of WalkMe's fundraising journey and the investors backing this innovative platform.
What Is WalkMe?
WalkMe, founded in 2011, is headquartered in San Francisco, California. The company was established by Dan Adika, Rafael Sweary, and Eyal Cohen.
WalkMe provides a Digital Adoption Platform (DAP) that overlays on any application to offer personalized guidance and automation. This platform helps organizations improve software usage, guide users, and automate tasks.
With a workforce of over 1,000 employees, WalkMe continues to innovate in the digital adoption space, enhancing productivity and user experience across various industries.
How Much Funding Has WalkMe Raised?
- Series E Round
- Amount Raised: $50 million
- Date: May 2016
- Lead Investors: Insight Venture Partners
- Valuation at Round: Around $400 million
- Motivation Behind the Round: To expand into mobile services and machine learning innovations, and to potentially make an acquisition in the mobile services space.
- Series F Round (Initial)
- Amount Raised: $40 million
- Date: September 20, 2018
- Lead Investors: Insight Venture Partners, with participation from Mangrove Capital Partners
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand into local markets in Europe and Asia Pacific and to continue building out its platform, including elements of machine learning and big data analytics.
- Series F Round (Extension)
- Amount Raised: $10 million
- Date: November 13, 2018
- Lead Investors: EDBI (Singaporean Sovereign Wealth Fund)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To aid in international expansion, particularly using Singapore as a strategic hub for operations in the region.
- Series F Round (Additional)
- Amount Raised: $50 million
- Date: November 2018
- Lead Investors: Not specified
- Valuation at Round: More than $1 billion
- Motivation Behind the Round: General growth and expansion.
- Latest Round
- Amount Raised: $90 million
- Date: December 9, 2019
- Lead Investors: Vitruvian Partners, with participation from Insight Partners
- Valuation at Round: Around $2 billion
- Motivation Behind the Round: To double down on global growth, with a particular focus on Latin America.
Total Amount Raised: $240 million. Current Valuation: Around $2 billion.
Key Investors
- Vitruvian Partners
- Details: Vitruvian Partners is a leading international growth capital and buyout firm. They invest in dynamic situations characterized by rapid growth and change.
- Investment Focus Areas: Technology, financial services, healthcare
- Notable Investments: Just Eat, Skyscanner, Farfetch
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They specialize in high-growth technology and software companies.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Twitter, Shopify, Docker
- EDBI
- Details: EDBI is the investment arm of Singapore's Economic Development Board. They focus on bringing business to Singapore and supporting international expansion.
- Investment Focus Areas: Life sciences, healthcare, enterprise software
- Notable Investments: Puppet, Carousell, Magic Leap
- Mangrove Capital Partners
- Details: Mangrove Capital Partners is a venture capital firm that traditionally invests in early-stage technology companies. They have been a previous investor in WalkMe.
- Investment Focus Areas: Technology, internet, software
- Notable Investments: Skype, Wix, K Health
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They have participated in previous funding rounds for WalkMe.
- Investment Focus Areas: Technology, software, cloud computing
- Notable Investments: Box, DocuSign, HubSpot
What's Next for WalkMe?
WalkMe stands at the cusp of significant growth opportunities, particularly in expanding its global footprint. With a strong presence in Latin America and Asia, the company can leverage its digital adoption platform to drive workforce productivity and customer satisfaction. The digital adoption market is burgeoning, and WalkMe's technology, which includes machine learning and big data analytics, positions it well to capitalize on this trend.
Future fundraising opportunities appear promising as WalkMe continues to attract interest from investors, thanks to its increasing valuation and revenue milestones. The company’s strategic focus on international expansion and technological innovation makes it an attractive candidate for further investment. However, WalkMe will need to navigate challenges such as intense competition and the need for continuous innovation to maintain its market leadership.
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