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WalkMe, a startup that operates a digital adoption platform for enterprises, raises funding worth $90 million for business expansion in the Latin American Market
Fremont, CA: A digital adoption platform for enterprises operated by Walkme closed a funding round worth $90 million.
London-based Vitruvian Partners led the funding round with the support of previous backers Insight Partners in the financing round. The total amount raised by the San Francisco-based Walkme is $307 million. The company raised funds worth $50 million across the two rounds of a Series F in 2018 and attained unicorn status last year.
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The goal expressed by WalkMe with its innovation "context-intelligent" DAP is to build it in a way that it is “effortless to use any software, website, or app… so users can complete tasks faster and easier". The company leverages AI and ML, Analytics, and automation to anticipate the users' necessities efficiently and then targets them to provide help "exactly when and where they need it."
The latest valuation determines that the company may be at or more than about two billion dollars. WalkMe is seen to be growing steadily as of late, noting a double in its valuation when compared to last year. And, the startup is also said t have surpassed the $100 million in the second quarter. It has also booked new businesses growing almost 100 percent in its third quarter.
WalkMe plans to utilize the capital from the latest funding to scale and " drive expansion into new markets,” including Latin America. At present, the company has over 2000 customers, including mo
re than 30 percent of the Fortune 500 companies.
This latest round of funding speaks to our success and the untapped potential of digital adoption,” said WalkMe cofounder and President Rafael Sweary. “WalkMe transforms how organizations gain visibility into their end-to-end business processes, driving workforce productivity, increasing customer satisfaction, and achieving higher operational efficiencies.”
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