WalkMe provides a context-intelligent digital adoption platform that anticipates users’ needs and delivers help via insights, engagement, guidance and automation using artificial intelligence and machine learning. The company is led by co-founder and president Rafael Sweary and is headquartered in San Francisco, CA. Its platform is used by more than 2,000 companies globally, including over 30% of Fortune 500 companies. In Q2 2019 WalkMe crossed $100 million in ARR, and in Q3 2019 new business bookings grew 100% year-over-year. WalkMe intends to use the new funding to continue scaling operations and to expand its business reach into new markets, including Latin America. WalkMe is a San Francisco–based provider of a Digital Adoption Platform (DAP) that uses artificial intelligence, engagement, guidance and automation to assist users in completing tasks within enterprise software, mobile applications, and websites. Founded in 2011 by Raphael Sweary, the company’s software is used by nearly 2,000 enterprises globally. WalkMe already has a meaningful presence in the Asia Pacific region, with offices in Australia and Japan. The company intends to use the new funds to expand and localize its DAP offering in the Asia Pacific market through Singapore. Financially, WalkMe has raised $217.5M to date, including a Series F that totaled $50M. The Series F included a $10M investment from Singapore-based EDBI alongside lead investors Insight Venture Partners and Mangrove Capital Partners. WalkMe builds a digital adoption platform that overlays on customers' apps to guide users, automate steps, and reduce friction using machine learning and big-data analytics. Its technology includes UI-reading capabilities, automation to fill information and complete tasks, and white-label deployment so guidance is often invisible to end users. The company serves about 2,000 customers globally, including more than 30% of the Fortune 500, and reports roughly equal split between B2B and B2B2C with 40% of sales from repeat customers. WalkMe has expanded its stack through internal development and acquisitions, most recently buying DeepUI, a stealth startup focused on deep-learning UI analytics. The company plans to use new capital to grow in local markets across Europe and Asia Pacific and continue building out its platform. WalkMe was founded in 2011 and is Israel-based; a source told TechCrunch its valuation is now over $1 billion and total capital raised is $207.5 million. WalkMe’s core product is a cloud platform that observes user behavior on web and mobile interfaces and provides on-screen guidance, prompts and recommendations powered by data and machine learning. The platform aims to improve UX and task completion times for employees and customers, and is offered on a freemium pricing model. WalkMe reports thousands of customers, including 25% of the Fortune 500, with named customers such as OpenTable, Microsoft and Adobe. The company says it is not currently profitable by design but is seeing “over hundreds percent” year-over-year growth in usage. WalkMe has made acquisitions to expand its capabilities, including abbi.io (A/B testing on mobile) and Jaco (visual analytics). It plans to use new funding to expand into markets such as Japan, Germany and Latin America and to pursue further acquisitions to build out its big data and machine-learning capabilities. WalkMe provides a cloud-based on-screen guidance platform that helps users navigate confusing or complicated online services. It focuses on making websites easier for consumers to use and already serves over 700 customers, including MasterCard, PayPal, BT, the U.S. Postal Service and Pandora. The company has exceeded revenue targets for the last six quarters and reports recurring revenue in the "tens of millions." WalkMe plans to use new funding to expand into mobile services and to develop additional machine-learning-driven products, with a machine-learning product planned for later in the year. Mobile offerings are already available for apps, and management said it may pursue an acquisition to accelerate growth in that area. WalkMe is based in San Francisco with R&D roots in Tel Aviv and has confirmed it is moving toward an IPO, though no timeline has been set.

Total raised

$307M

Funding rounds

9

Latest round

Equity

Latest activity

Dec 2019