WalkMe Onboards $40 Million In Its Series F Round

Today, WalkMe—the software training and onboarding platform provider—announced it raised $40 million in Series F financing.

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When using a computer, perhaps the only time you want someone looking over your shoulder is when that someone is teaching you to do something new with an unfamiliar piece of software. Skilled trainers are the unsung heroes of the software world, but when deploying new software to a workforce of hundreds or thousands of people, a more automated, scalable solution is in order.

Dan Adika, co-founder and CEO of WalkMe, said in a statement that “[t]his latest round of funding will help us grow at an even faster rate globally, while ensuring our leadership position in creating and forging the digital adoption category.”

The round was led by prior Series E investor Insight Venture Partners. Mangrove Capital Partners, which has been an investor in WalkMe since the company raised its Series A back in April 2012, followed on its prior investments by participating in the round. This Series F brings WalkMe’s total funding to $207.5 million, according to a statement from the company.

The goal of its training programs is to help people learn how to use software to its fullest extent. To this end, WalkMe helps organizations manage technology change by giving them a way to create interactive walkthroughs and training materials for employees. For sales and support teams, WalkMe can be used to build onboarding workflows for new and prospective customers.

WalkMe said it intends to expand its onboarding solutions “through additional technology acquisitions.” In the last eighteen months, the company has acquired three other startups. Those deals include: machine-taught interface navigator DeepUI in June 2018, analytics company Jaco in April 2017, and mobile app engagement platform Abbi in January 2017.

The company says the new funding will allow it “to continue its hyper-growth worldwide.” According to its statement, WalkMe has over 650 employees and 2,000 customers distributed worldwide. The company intends to roll out localized versions of its products to select non-English speaking markets in Europe and the Asia-Pacific region.

As more companies transition more work from generalized office software suites to specialized software platforms, the demand for training and onboarding software will likely keep growing. Where there’s a learning curve to overcome, there’s money to be made in building ramps and toeholds.

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