Digital Adoption Firm WalkMe Raises $40M For ‘Hyper-Growth’

Israeli-founded, US-headquartered website navigation software tool WalkMe announced that it raised $40 million in a Series F financing round led by Insight Venture Partners, with participation from WalkMe’s first institutional investor, Mangrove Capital Partners.

WalkMe said in a statement that the funding will allow it to “continue its hyper-growth worldwide,” with sights on new markets such as Asia Pacific and Europe. WalkMe says it has nearly 2,000 customers worldwide, including over 30 percent of the Fortune 500.

Founded in 2011 by Sweary, Dan Adika, and Eyal Cohen, WalkMe has developed a Digital Adoption Platform (DAP) that uses artificial intelligence and automation to transform the digital user experience.

“Digital transformation holds great promise, which is why most organizations today are highly engaged in their efforts. While the potential is huge, expectations are not met due to a reality of poor user adoption. Our customers are leveraging WalkMe’s Digital Adoption Platform to ensure their business transformation goals and expectations are met and exceeded,” Adika said in a statement. “This 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 company has seven offices worldwide and employs over 600 people.