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WalkMe

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WalkMe
Type of site
Public
Available inEnglish, Multi-language
Traded asNasdaq: WKME
Headquarters71 Stevenson Street, Floor 20[1]
San Francisco, California, U.S.
Key peopleDan Adika (CEO)
Rafael Sweary (President)
Hagit Inon (Interim CFO)
IndustrySaaS, software, no-code development platform, artificial intelligence, Business process automation
ProductsWalkMe Digital Adoption Platform (DAP)
RevenueIncrease $245 million (2022)[2]
Employees1,100
SubsidiariesAbbi, Jaco, DeepUI, Zest
URLwww.walkme.com
LaunchedApril 2012; 12 years ago (2012-04)

WalkMe is an American multinational software-as-a-service (SaaS) company, with headquarters in San Francisco, California.[3][4][5] Its digital adoption platform (DAP) was recognized in Everest Group's PEAK Matrix Assessment of DAP vendors as the leading DAP product.[6] Alongside its headquarters in San Francisco, the company has offices in Raleigh, North Carolina; Tel Aviv, Israel, and a global footprint including the United Kingdom, Australia, and Japan.[7]

WalkMe has more than 2,000 corporate customers[8] and has been recognized on the Forbes Cloud 100 for five consecutive years.[9] As of December 2019, WalkMe has raised more than US$307 million in venture capital funding and is valued at US$2 billion, making it a unicorn company.[10]

The company's initial public offering (IPO) took place on June 16, 2021, and resulted in a valuation of US$2.56 billion.[11]

History

WalkMe Inc. was founded in 2011 by Dan Adika, Rafael Sweary, Eyal Cohen and Yuval Shalom Ozanna. In April 2012, they launched the product WalkMe.[4][12] In 2017, WalkMe acquired mobile A/B testing and app engagement platform Abbi,[13] and analytics startup Jaco.[14] User interface artificial intelligence company DeepUI.ai was acquired in June 2018,[15] and information enablement tool Zest was acquired in 2021.[16] On June 5, 2024 SAP announced that it has entered into an agreement to acquire WalkMe.[17]

Corporate affairs

In April 2020, WalkMe and Microsoft announced a partnership in which WalkMe's DAP is embedded in Microsoft Dynamics 365 for customers and partners.[18]

In May 2020, Andrew Casey was appointed as the company's first Chief Financial Officer (CFO). Casey, who was previously with ServiceNow, joined WalkMe with 29 years of experience in corporate and operational finance for both private and publicly traded companies.[19]

In October 2020, WalkMe launched its Digital Adoption Institute to the public for providing a scholarship and upskilling courses in digital adoption.[20]

Funding

WalkMe has raised US$307.5 million in nine rounds of funding. The company was valued at US$2 billion after its Series G round in December 2019.[10]

  • In April 2012, WalkMe raised US$1 million in its Series A round, led by Mangrove Capital Partners.[21]
  • In October 2012, it raised its Series B funding of US$5.5 million, led by Gemini Israel Ventures.[22]
  • In April 2014, WalkMe raised US$11 million in its Series C funding round led by Scale Venture Partners.[23]
  • In June 2015, WalkMe raised Series D of US$25 million, led by Greenspring Associates.[24]
  • In May 2016 and July 2017, WalkMe raised a total of US$125 million in its Series E round led by Insight Partners.[25][26]
  • In September and November 2018, WalkMe raised Series F funding of US$50 million from Insight Partners and EDBI.[25]
  • In December 2019, WalkMe raised US$90 million in its Series G round of funding led by Vitruvian Partners.[10]
  • In June 2024 it was announced at SAP Sapphire that a definitive agreement was entered into under which SAP will acquire WalkMe for US $14.00 per share in an all-cash transaction, representing an equity value of approximately US $1.5 billion. The offer price represents a 45% premium to WalkMe’s closing share price on June 4, 2024.[27]

References

  1. ^ "WalkMe US Headquarters". WalkMe. Retrieved 7 January 2018.
  2. ^ "WalkMe Ltd. Announces Fourth Quarter 2022 Financial Results". WalkMe.
  3. ^ Dylan Tweney (2014-04-01). "WalkMe raises $11M to hold your hand as you click through websites". VentureBeat. Retrieved 2014-06-16.
  4. ^ a b Klie, Leonard (2013-11-01). "Customer Support: Keeping Up with the Digital Migration – CRM Magazine". Destinationcrm.com. Retrieved 2014-06-16.
  5. ^ "2014 Digital Marketing Forecast: 7 Trends To Watch". Nusaresearch.com. Retrieved 9 August 2017.
  6. ^ "Digital Adoption Platform (DAP) Products PEAK Matrix® Assessment with Technology Vendor Landscape 2020". Everest Group. Retrieved 14 April 2021.
  7. ^ "WalkMe headquarters and office locations". craft.co. Retrieved 5 April 2021.
  8. ^ "WalkMe" (PDF). Frost & Sullivan. Retrieved 5 April 2021.
  9. ^ "The Cloud 100 2020". Forbes. Retrieved 5 April 2021.
  10. ^ a b c "WalkMe raises $90 million to help people navigate user interfaces with on-screen prompts". VentureBeat. 9 December 2019. Retrieved 12 April 2021.
  11. ^ Solomon, Shoshanna (16 June 2021). "Israel's WalkMe raises $287 million in Nasdaq IPO at $2.5 billion valuation". www.timesofisrael.com. Retrieved 20 June 2021.
  12. ^ "The Company". WalkMe. Retrieved 2014-06-16.
  13. ^ Lunden, Ingrid (13 January 2017). "WalkMe acquires Abbi.io to add mobile A/B testing and engagement – TechCrunch". Techcrunch.com. Retrieved 9 August 2017.
  14. ^ Keane, Jonathan (April 4, 2017). "Israel's WalkMe acquires analytics startup Jaco". TechEU. Retrieved 10 December 2017.
  15. ^ "WalkMe buys Israeli machine learning co DeepUI". Globes. 20 June 2018. Retrieved 14 April 2021.
  16. ^ "Tel Aviv-founded digital adoption platform WalkMe acquires AI search company Zest". Tech.eu. Retrieved 20 June 2021.
  17. ^ "SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offerings". SAP SE. 2024-06-05. Retrieved 2024-06-06.
  18. ^ "Microsoft joins digital platform WalkMe to boost Dynamics 365 sales". Express Computer. 7 April 2020. Retrieved 14 April 2021.
  19. ^ Muskett, Lauren (13 March 2020). "CFOs On the Move: Week Ending March 13". CFO. Retrieved 14 April 2021.
  20. ^ "Digital Adoption Institute Launches with Free Scholarships to Fuel the Reskilling Revolution". finance.yahoo.com. Retrieved 14 April 2021.
  21. ^ "Help Gratefully Received: On-Screen Web Guidance System WalkMe Picks Up $1M+ From Mangrove". TechCrunch. Retrieved 14 April 2021.
  22. ^ "Online Guidance System WalkMe Raises Another $5.5M To Make Sure That We Never Get Lost On A Website Again". TechCrunch. Retrieved 14 April 2021.
  23. ^ "Website guide co WalkMe raises $11m – Globes". en.globes.co.il (in Hebrew). 1 April 2014. Retrieved 14 April 2021.
  24. ^ "WalkMe Raises Another $25M For Its Platform To Get Around Websites And Software More Easily". TechCrunch. Retrieved 14 April 2021.
  25. ^ a b "On-screen guidance startup WalkMe raised $50M led by Insight, now valued around $400M". TechCrunch. Retrieved 14 April 2021.
  26. ^ "WalkMe leads wave of Israeli startup funding with $75 million". Haaretz.com. Retrieved 14 April 2021.
  27. ^ https://news.sap.com/2024/06/sap-enters-agreement-to-acquire-walkme/
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