Workato announced $110 million in Series D funding led by global investment firm Altimeter Capital alongside Insight Partners. This investment brings the total capital raised by the company to over $221 million and values Workato at $1.7 billion.
Workato allows companies to maximize the value of their apps, data and people by making it easy to integrate disconnected data and applications, and securely automate workflows to accelerate business outcomes. Previously, businesses attempted to achieve this using a patchwork of different technologies, including Robotic Process Automation (RPA), Integration Platform as a Service (iPaaS), business process management (BPM) and chatbots.
Workato’s integration-led automation platform is used by more than 7,000 businesses, including Broadcom, Coupa, Intuit, Autodesk, Nutanix and Rapid7. With a rapidly growing community of over 70,000 users who can create automation from scratch or get started faster with over 500,000 pre-built automation “recipes,” Workato’s cloud-native platform automates processes in marketing, sales, finance, HR, IT, and many other business areas so that teams can work faster and smarter.
Since raising its $70 million Series C round in late 2019, Workato has:
- Nearly tripled its revenue and customer base
- Increased workflows in production per customer threefold and workloads per customer fourfold across data integration, process automation, and chatbots
- Seen the customer and partner community create over 500 connectors to new apps and systems each month
- Ranked 96th in North America and 17th in the Bay Area in Deloitte’s 2020 Technology Fast 500
- Named as a leader for the past three years in Gartner’s Magic Quadrant for Enterprise iPaaS, Workato is the only automation platform vendor that is also a leader in integration. Workato is also the only Automation vendor recognized in The Forrester Wave™: Strategic iPaaS and Hybrid Integration Platforms report, further underpinning Workato’s integration-led approach to automation
- Experienced 200% growth in new partners, and forged new technology partnerships with companies like Snowflake, Adobe, OutSystems, Workplace from Facebook and more
Workato will use the new investment to double down on its product innovation and technology development, continuing to lead the movement toward integration-led automation. The company will also expand its customer success program and launch its first user conference in 2021. Additionally, it will invest significantly in scaling teams in the U.S. and internationally in EMEA and APAC.