Total amount raised
$5.7 Billions
Latest funding date
October, 2021
Location
Workato has successfully raised significant funding over multiple rounds, with its latest being a Series E. The platform specializes in enterprise automation, integrating various applications and data to streamline business processes.
Keep reading to explore the intricacies of Workato's fundraising journey and the investors backing this innovative platform.
What Is Workato?
Founded in 2013, Workato is an enterprise automation platform based in Mountain View, California. The company specializes in integrating applications and automating complex business workflows across various functions such as IT, marketing, HR, finance, sales, and support.
Workato was founded by Alexey Timanovskiy, Dimitris Kogias, Gautham Viswanathan, Harish Shetty, and Vijay Tella. The platform leverages AI and no-code capabilities to help organizations work faster and smarter without compromising governance and security.
With a workforce of 501-1000 employees, Workato continues to innovate in the field of enterprise automation, providing solutions like AI-driven Knowledge Bots, Security Orchestration Automation & Response (SOAR), and Employee Onboarding Automation.
How Much Funding Has Workato Raised?
- Series A
- Amount Raised: $10M
- Date: July 2017
- Lead Investors: Storm Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand market reach.
- Series B
- Amount Raised: $25M
- Date: December 2018
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance platform capabilities.
- Series C
- Amount Raised: $70M
- Date: November 2019
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand the customer base.
- Series D
- Amount Raised: $110M
- Date: January 2021
- Lead Investors: Altimeter Capital, Insight Partners
- Valuation at Round: $1.7B
- Motivation Behind the Round: To further develop the platform and prepare for future growth.
- Series E
- Amount Raised: $200M
- Date: November 2021
- Lead Investors: Battery Ventures
- Valuation at Round: $5.7B
- Motivation Behind the Round: To invest in platform expansion, make acquisitions, and prepare for a potential IPO.
Total Amount Raised: $415M. Current Valuation: $5.7B.
Key Investors
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm that invests in companies at all stages of their growth. They have been a repeat backer of Workato, leading its Series B round in 2018 and participating in the latest Series E round.
- Investment Focus Areas: Technology, software, automation.
- Notable Investments: Coupa, Nutanix, Datadog.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in high-growth technology and software companies. They participated equally in Workato's Series E funding round.
- Investment Focus Areas: High-growth technology, software companies.
- Notable Investments: Shopify, Twitter, Qualtrics.
- Altimeter Capital
- Details: Altimeter Capital is an investment firm focused on technology companies, with a history of investing in both public and private markets. They participated equally in Workato's Series E funding round.
- Investment Focus Areas: Technology companies, both public and private.
- Notable Investments: Snowflake, Unity, Roblox.
- Tiger Global
- Details: Tiger Global is a global investment firm that invests in private and public companies in the internet, software, consumer, and financial technology sectors. They participated equally in Workato's Series E funding round.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies. They participated in Workato's Series E funding round.
- Investment Focus Areas: Seed, early, and growth-stage companies.
- Notable Investments: Stripe, Twilio, Netflix.
What's Next for Workato?
Workato stands at the cusp of significant growth opportunities, driven by the surging demand for enterprise automation. With plans to expand its platform and make strategic acquisitions, the company aims to tap into the global market, particularly in the Asia Pacific and EMEA regions. The recent $200 million Series E funding round, which brought its valuation to $5.7 billion, underscores the vast potential ahead.
Future fundraising opportunities appear promising, with the possibility of an IPO on the horizon. Existing investors like Battery Ventures and Insight Partners are likely to continue their support, given Workato's impressive growth trajectory. However, the company must navigate challenges such as intense competition and the need to scale operations effectively. Ensuring seamless integration of acquired technologies will be crucial for maintaining its leadership in the enterprise automation space.
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