SAN FRANCISCO, Dec. 9, 2019 /PRNewswire/ -- WalkMe™, theleading digital adoption platform and one of the fastest-growing software companies globally, announced today that it has closed a $90M round of funding led by Vitruvian Partners with participation from previous investor Insight Partners. With this latest funding round, WalkMe will continue to scale and help leading enterprises realize the full potential of their software assets and empower digital transformation across their organization.
With over $307 million in funding raised to-date, almost doubling its valuation in the last year and more than 2,000 customers across the globe, WalkMe has experienced exponential growth since its launch in 2011. In Q2 of 2019, WalkMe crossed $100 Million in ARR, and in Q3 of 2019 WalkMe's new business bookings grew 100% compared to Q3 of 2018. WalkMe will use the investment to drive expansion into new markets, including Latin America, and will continue to invest in and rapidly scale its Digital Adoption Platform (DAP) to meet growing customer demand. WalkMe's DAP makes it effortless to use any software, website or app – analyzing and automating processes so users can complete tasks faster and easier.
"This latest round of funding speaks to our success and to the untapped potential of digital adoption," said Rafael Sweary, Co-founder and President of WalkMe. "WalkMe transforms how organizations gain visibility into their end-to-end business processes, driving workforce productivity, increasing customer satisfaction, and achieving higher operational efficiencies."
As organizations set out on their digital transformation journey, lacking a digital adoption strategy can strongly impact both employee and customer experience. C-suite executives of global organizations rely on the WalkMe platform to significantly improve the ROI on costly enterprise software investments, ensuring that all users get the maximum value out of these tools. With WalkMe automation, for example, employees have an 81% higher success rate for completing certain business processes, gaining the agility to complete three times as many tasks in the same amount of time.
"In a few short years, WalkMe has emerged as the category-defining market leader in the fast-growing Digital Adoption Solutions space," said Mike Risman, Managing Partner of Vitruvian Partners. "We are excited to partner with WalkMe as an investor during this pivotal time of accelerated growth and global expansion as the company capitalizes on its market leadership. WalkMe helps the world's most forward-looking enterprises deliver on their digital transformation strategy. The company's platform delights employees with more efficient software interactions, empowers business process owners to steer and re-engineer workflows and provides analytics to help CIOs manage the complexity of the digital transformation proactively."
WalkMe provides a digital adoption platform that simplifies the user experience and drives action using insights, engagement, guidance and automation capabilities. Using artificial intelligence/machine learning, analytics and automation, WalkMe's context-intelligent platform anticipates users' needs and provides help exactly when and where they need it. WalkMe is used by over 2,000 companies globally, including more than 30 percent of Fortune 500 companies. For more information, visit: https://www.walkme.com/.
About Vitruvian Partners:
Vitruvian is an independent growth capital firm headquartered in London with offices across London, Stockholm, Munich, Luxembourg, San Francisco and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services. Vitruvian is currently investing from its third fund, the €2.4 billion Vitruvian Investment Partnership III, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian Funds have backed over 45 companies and have assets under management of approximately $5.5 billion. Notable investments to date include global market leaders in their field such as Just Eat, FarFetch, Darktrace, Trustpilot, Marqeta, TransferWise, Skyscanner and others. The Firm's previous investments in software innovators include companies such as Snow Software, Bitdefender, Pindrop, Unifaun, Accountor and Benify. More information can be found at: www.vitruvianpartners.com.