CLOUD
CLOUD
CLOUD
Digital adoption platform provider WalkMe raises $90M
Digital adoption platform provider WalkMe Ltd. said today it has raised $90 million in new funding.
The Series G round was led by Vitruvian Partners and included previous investor Insight Partners. The new funding took WalkMe’s total amount raised to $307.5 million.
Founded in 2011, WalkMe offers a digital adoption program for enterprises, primarily targeting its technology at e-commerce scenarios in which shopping-cart abandonment is a common problem, as well as at internal uses such as helping employees fill out forms or complete online training courses.
“We saw that most users don’t ask for help, so our engagement engine understands their problems and gives guidance automatically,” Rephael Sweary, WalkMe’s co-founder and president, told SiliconANGLE in 2017.
The company’s platform helps guide visitors through the steps needed to complete a process, send them to other pages and deliver articles and offers depending upon what the visitor appears to be trying to accomplish. Businesses can use the product to reduce information technology help desk support inquiries, streamline workflows and improve the user experience. WalkMe includes an analytics engine that website or application owners can use to gain insight into how their sites are being used.
In the second quarter of 2019, WalkMe surpassed $100 million annual recurring revenue and in the third quarter its new business bookings doubled from a year ago. Customers include Microsoft Corp, Cisco Systems Inc., PayPal Inc., CenturyLink Inc., BT Group plc. and Citrix Systems Inc.
“In a few short years, WalkMe has emerged as the category-defining market leader in the fast-growing digital adoption solutions space,” Mike Risman, managing partner of Vitruvian Partners, said in a statement.
Photo: Unsplash
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
