This Startup Netted $75 Million to Wring The Most Out of Your Software
WalkMe, a company that helps businesses make the best use of the software they already have, now has $75 million in fresh funding to do that. This Series E round, led by Insight Venture Partners, brings total funding to $167.5 million.
WalkMe’s software tracks what users do with their business applications, collects that knowledge, and then prompts them to action when they run into a problem. WalkMe is also designed to help users who don’t have the time or inclination to study new features to use what they need (and not have to learn what they don’t need.)
“Enterprise companies now use cloud, but cloud changes all the time,” says WalkMe’s president Rephael “Rafi” Sweary. “The appeal is that WalkMe prompts them to proceed in their processes with all the context in place.”
The company, with primary offices in Tel Aviv and San Francisco, will use the money to build its business in Japan, Germany, and other non-English-speaking markets. And some money will likely go to acquisitions, Sweary says.
The company bought Abbi.io, a mobile analytics specialist, and Jaco, which offers visual analytics, earlier this year. Terms were not disclosed. Other WalkMe investors include Scale Venture Partners and Gemini Israel Ventures.
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Constellation Research analyst Alan Lepofsky puts WalkMe into a category called Digital Adoption Platforms or modern-day help systems.
The big difference between WalkMe and traditional help systems, according to Lepofsky, is that in the background, this software collects information about user behavior and patterns and guides administrators on how to smooth out trouble spots. “This leads to better employee and customer experiences,” Lepofsky says.
Other companies in this online help space include Appcues, AppLearn, Inline Manual, Iridize, Toonimo, and WhatFix, Lepofsky notes.