Israeli website navigation company WalkMe has raised $75 million in a financing round led by Insight Venture Partners. The latest round of financing brings the total raised by WalkMe to $167.5 million.
The latest funding will enable the company to evaluate strategic acquisition opportunities, strengthen its global reach, invest in key talent and continue to support organizations as they embrace new solutions - from customer relationship management software, HR systems and many others.
The company was founded in 2011 by CEO Dan Adika, president Rafi Sweary, CPO Eyal Cohen, and Yuval Shalom, who has since left the company. Tel Aviv-based WalkMe was chosen as "Globes" most promising startup of 2016.
WalkMe transforms the user experience by using machine learning and deep analytics to understand individual habits and behaviors when using any software or website. Based on these insights, WalkMe can contextually guide, engage and anticipate a user’s needs. This ensures technology adoption, reduces helpdesk tickets, streamlines workflows and boosts productivity.
Adika said, "Businesses have a surplus of solutions available to get the job done quickly and cost effectively, but the irony is that these options can create inherent inefficiencies due to our ongoing need to learn and catch up with the latest technologies. Our partnership with Insight Venture Partners gives us additional resources to accelerate our momentum into new markets, innovate rapidly, and deliver on our vision to train software to work with employees - rather than train employees on how to use the software."
As growth accelerates, WalkMe continues to increase its capability to understand user behavior across devices. Earlier this year, the company acquired Abbi.io and Jaco - a mobile analytics and visual analytics company respectively - to bolster its abilities to gain real-time insights into user behavior. WalkMe has over 500 employees in seven offices worldwide, with customers including more than 25 percent of the Fortune 500.
"WalkMe demonstrates tremendous value in helping employees and customers better adopt technology," said Jeff Horing, Managing Director, Insight Venture Partners. "The WalkMe team has an acute awareness of the digitization challenges facing every enterprise, and we look forward to our continued partnership as they fuel their strength in this market."
WalkMe's main investors include Mangrove, Greenspring, Flint, Insight, Scale, Gemini and Giza.
Published by Globes [online], Israel business news - www.globes-online.com - on July 26, 2017
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