UPDATED 22:28 EDT / DECEMBER 09 2019

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

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