Tray.io provides a low-code, cloud-first platform that lets technical and non-technical users connect systems and build scalable workflow automations using any API. The product targets business process automation across functions such as revenue operations, HR onboarding, finance quote-to-cash and IT user provisioning. Tray.io positions itself as an alternative to legacy iPaaS with a self-service approach that emphasizes scale, resiliency, error-handling, and security. The company says the new capital will accelerate product development and fuel go-to-market initiatives. Financially, Tray.io reported a 115% year-over-year revenue increase and a 444% rise in tasks running on its platform, with growth driven by upper mid-market and enterprise customers with more than $100,000 of annual contract value. The platform is used to scale integrations and deliver self-serve customer integrations at enterprise scale, per customer commentary in the announcement. Tray.io offers a general workflow automation platform with a graphical interface that lets non-technical users create API integrations and automations across multiple apps. The company supports integrations for roughly 400 apps and processes about 10 billion tasks per month, serving customers from startups to enterprises including IBM, VMWare, Pearson, Bain & Company, Zendesk, and Udemy. It also sells a white-label product, Tray Embedded, and provides automation features such as error handling and version management. Tray.io has no free tier; integration packages start at $595 per month. Financially, ARR is reported to be up more than 500% this year and its customer base has grown 37%, though the company does not disclose absolute revenue figures. The company keeps R&D in the UK and will continue building out its UK office while maintaining headquarters in San Francisco. Tray.io offers a visual platform that lets line-of-business users create powerful automated workflows without an engineering background. The product targets departmental automation needs across marketing, sales operations and IT by integrating disparate data sources and services. The company has seen rapid commercial traction: ARR is growing over 450% year-over-year and customers are growing by 400%. Tray.io already has over 200 customers, including Lyft, Intercom, IBM and SAP. R&D is based in London while the company is headquartered in San Francisco, and it employs 85 people with plans to reach 100 by the end of the quarter. The team spent the first four years building the product and has been expanding since a $14M Series A a year ago. Tray.io offers a "General Automation Platform" that it says puts complex integrations and enterprise-scale automation into the hands of businesses with drag-and-drop ease-of-use. The platform is built in a serverless environment and is entirely API-driven, which Tray.io says enables faster scaling. The company reports working with customers including Segment and Udemy. Tray.io competes with incumbents such as Mulesoft, Informatica, Boomi, Tibco, Workato, and Zapier. The startup positions its product for bespoke integrations and enterprise automation. The newly raised capital will support strategic hiring and continued development of its integration and automation platform. Tray.io provides a web-based interface that lets users drag and drop connectors onto a canvas to create API-driven workflows between services and internal systems. The product is used to build custom integrations and automate manual tasks across SaaS tools, for example tracing product-usage attributes in Intercom and triggering CRM notifications to reduce churn. Early customers named in the article include Digital Ocean, Expensify, Vox, Buzzfeed, Zycus, Meteor, Keen.IO and Northwell Health. The company was born from co-founder and CEO Rich Waldron's experience on AngelPad in 2012, when he sought a more efficient way to integrate services. On the financing side, Tray.io has raised a $5M Series A and had previously raised just short of $3M in earlier funding.

Total raised

$149M

Funding rounds

6

Latest round

Series C

Latest activity

Sep 2022