Company:WalkMe

From HandWiki

WalkMe Ltd. is an American multinational software-as-a-service (SaaS) company, with headquarters in San Francisco, California.[1][2][3] Its digital adoption platform (DAP) was recognized in Everest Group's PEAK Matrix Assessment of DAP vendors as the leading DAP product.[4] 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.[5]

The company's initial public offering (IPO) took place on June 16, 2021, and resulted in a valuation of US$2.56 billion.[6] WalkMe was acquired by SAP for $1.5 billion in 2024[7] with driving SAP’s Business AI strategy a major driver of the acquisition.[8][9]

History

WalkMe Inc. was founded in 2011[10] by Dan Adika, Rafael Sweary, Eyal Cohen and Yuval Shalom Ozanna. In April 2012, they launched the product WalkMe.[2][11] In 2016, Globes named it Israel’s most promising start up.[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] In June 2021, it had an IPO and was then one of a number of Israeli technology companies to trade below its IPO price.[17]

In June 2024, SAP announced that it has entered into an agreement to acquire WalkMe for $1.5 billion.[18][19] The acquisition was completed in September 2024.[20]As a result of this, Walk Me was delisted from the NASDAQ.[21]

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.[22]

In May 2020, Andrew Casey was appointed as the company's first Chief Financial Officer (CFO).[23]

In October 2020, WalkMe launched its Digital Adoption Institute to the public for providing a scholarship and upskilling courses in digital adoption.[24]

In 2022, revenue was $245 million.[25]

Products and Technology

WalkMe Digital Adoption (DAP)

Digital adoption platforms provide guidance, in-application training, and user onboarding.[26]

WalkMe Learning Arc

This allows for learning that is "in-the-flow" where training is delivered directly inside the applications based on user interactions.[27]

SAP Joule (formerly WalkMe X)

An AI copilot that works across both SAP and non-SAP applications and assists in automating tasks.[28][29]

Market Position: AI & Digital Adoption

WalkMe is a leader in Digital Adoption when it comes to ensuring that employees are actually using the GenAI tools they’ve invested in, while maintaining security guardrails to prevent the information from being abused.[30][31]

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.[32]

  • In April 2012, WalkMe raised US$1 million in its Series A round, led by Mangrove Capital Partners.[33]
  • In October 2012, it raised its Series B funding of US$5.5 million, led by Gemini Israel Ventures.[34]
  • In April 2014, WalkMe raised US$11 million in its Series C funding round led by Scale Venture Partners.[35]
  • In June 2015, WalkMe raised Series D of US$25 million, led by Greenspring Associates.[36]
  • In May 2016 and July 2017, WalkMe raised a total of US$125 million in its Series E round led by Insight Partners.[37][38]
  • In September and November 2018, WalkMe raised Series F funding of US$50 million from Insight Partners and EDBI.[37]
  • In December 2019, WalkMe raised US$90 million in its Series G round of funding led by Vitruvian Partners.[32]
  • 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.[39]

References

  1. ↑ Dylan Tweney (2014-04-01). "WalkMe raises $11M to hold your hand as you click through websites". VentureBeat. https://venturebeat.com/2014/04/01/walkme-raises-11m-to-hold-your-hand-as-you-click-through-websites/. 
  2. ↑ 2.0 2.1 Klie, Leonard (2013-11-01). "Customer Support: Keeping Up with the Digital Migration – CRM Magazine". http://www.destinationcrm.com/Articles/ReadArticle.aspx?ArticleID=92726&PageNum=2. 
  3. ↑ "2014 Digital Marketing Forecast: 7 Trends To Watch". http://nusaresearch.com/marketing/detail.php?ID=50. 
  4. ↑ "Digital Adoption Platform (DAP) Products PEAK Matrix® Assessment with Technology Vendor Landscape 2020". Everest Group. https://www2.everestgrp.com/reportaction/EGR-2020-24-R-3855/Marketing. 
  5. ↑ "WalkMe headquarters and office locations". craft.co. https://craft.co/walkme/locations. 
  6. ↑ Solomon, Shoshanna (16 June 2021). "Israel's WalkMe raises $287 million in Nasdaq IPO at $2.5 billion valuation". The Times of Israel. ISSN 0040-7909. https://www.timesofisrael.com/israels-walkme-raises-287-million-in-nasdaq-ipo-at-2-5-billion-valuation/. 
  7. ↑ "SAP completes WalkMe acquisition" (in en). https://news.sap.com/2024/09/sap-completes-walkme-acquisition/. 
  8. ↑ "SAP and WalkMe" (in en). https://clarkstonconsulting.com/insights/sap-and-walkme. 
  9. ↑ "SAP Acquires WalkMe To Bolster Its Business AI and CX Offerings" (in en). https://www.cxtoday.com/contact-center/sap-acquires-walkme-to-bolster-its-business-ai-and-cx-offerings/. 
  10. ↑ "WalkMe: A specialised digital strategy problem solver" (in en). https://fintechmagazine.com/sustainability/walkme-specialised-digital-strategy-problem-solver. 
  11. ↑ "The Company". WalkMe. http://www.walkme.com/aboutwalkme/the-company/. 
  12. ↑ "WalkMe Israels most promising startup of 2016" (in en). https://en.globes.co.il/en/article-walkme-israels-most-promising-startup-of-2016-1001154829. 
  13. ↑ Lunden, Ingrid (13 January 2017). "WalkMe acquires Abbi.io to add mobile A/B testing and engagement – TechCrunch". https://techcrunch.com/2017/01/13/walkme-acquires-abbi-io-to-add-mobile-ab-testing-and-engagement/. 
  14. ↑ Keane, Jonathan (April 4, 2017). "Israel's WalkMe acquires analytics startup Jaco". TechEU. http://tech.eu/brief/walkme-jaco/. 
  15. ↑ "WalkMe buys Israeli machine learning co DeepUI" (in en). Globes. 20 June 2018. https://en.globes.co.il/en/article-walkme-buys-israeli-machine-learning-co-deepui-1001242420. 
  16. ↑ "Tel Aviv-founded digital adoption platform WalkMe acquires AI search company Zest". Tech.eu. https://tech.eu/brief/tel-aviv-founded-digital-adoption-platform-walkme-acquires-ai-search-company-zest/. 
  17. ↑ "Fast-growing WalkMe down 59% since IPO" (in en). https://en.globes.co.il/en/article-fast-growing-walkme-down-59-since-ipo-1001403132. 
  18. ↑ "Software giant SAP agrees to buy WalkMe for $1.5 billion cash". Associated Press. June 5, 2024. https://apnews.com/article/sap-acquires-walkme-digital-adoption-platform-aeca9d28c2498efecaf62960b90c9947. 
  19. ↑ "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. https://news.sap.com/2024/06/sap-enters-agreement-to-acquire-walkme/. 
  20. ↑ "SAP Completes Acquisition of WalkMe" (Press release). SAP News. September 12, 2024.
  21. ↑ "SAP Concludes Buyout of Israel-Based WalkMe for $1.5 Billion" (in en). https://www.nasdaq.com/articles/sap-concludes-buyout-israel-based-walkme-15-billion. 
  22. ↑ "Microsoft joins digital platform WalkMe to boost Dynamics 365 sales". Express Computer. 7 April 2020. https://www.expresscomputer.in/news/microsoft-joins-digital-platform-walkme-to-boost-dynamics-365-sales/52381/. 
  23. ↑ Muskett, Lauren (13 March 2020). "CFOs On the Move: Week Ending March 13". CFO. https://www.cfo.com/people/2020/03/cfos-on-the-move-week-ending-march-13-2/. 
  24. ↑ "Digital Adoption Institute Launches with Free Scholarships to Fuel the Reskilling Revolution". finance.yahoo.com. https://finance.yahoo.com/news/digital-adoption-institute-launches-free-130000731.html. 
  25. ↑ "WalkMe Ltd. Announces Fourth Quarter 2022 Financial Results" (in en). https://ir.walkme.com/news-releases/news-release-details/walkme-ltd-announces-fourth-quarter-2022-financial-results. 
  26. ↑ "Walkme: The Ideal Digital Adoption Platform" (in en). https://cbtw.tech/insights/walkme-digital-adoption-platform. 
  27. ↑ "Unlock Continuous Proficiency: Introducing the WalkMe Learning Arc Learning Journey" (in en). https://community.sap.com/t5/transformation-management-learning-group-blog/unlock-continuous-proficiency-introducing-the-walkme-learning-arc-learning/ba-p/14343141. 
  28. ↑ "WalkMe, SAP Joule action bar (On-Demand)" (in en). https://discovery-center.cloud.sap/ai-feature/4f879550-f761-4e34-a13e-e55088257d82/. 
  29. ↑ "New WalkMe offering embeds training directly into apps" (in en). https://www.computerworld.com/article/4057427/new-walkme-offering-embeds-training-directly-into-apps.html. 
  30. ↑ "Digital Adoption Platforms" (in en). https://www.gartner.com/reviews/market/digital-adoption-platforms. 
  31. ↑ "WalkMe for Shadow AI: Guardrails and Guidance Within the Flow of Work" (in en). https://futurumgroup.com/insights/walkme-for-shadow-ai-guardrails-and-guidance-within-the-flow-of-work/. 
  32. ↑ 32.0 32.1 "WalkMe raises $90 million to help people navigate user interfaces with on-screen prompts". VentureBeat. 9 December 2019. https://venturebeat.com/2019/12/09/walkme-raises-90-million-to-help-people-navigate-user-interfaces-with-on-screen-prompts/. 
  33. ↑ "Help Gratefully Received: On-Screen Web Guidance System WalkMe Picks Up $1M+ From Mangrove". TechCrunch. https://techcrunch.com/2012/04/12/help-gratefully-received-on-screen-web-guidance-system-walkme-picks-up-1m-from-mangrove/. 
  34. ↑ "Online Guidance System WalkMe Raises Another $5.5M To Make Sure That We Never Get Lost On A Website Again". TechCrunch. https://techcrunch.com/2012/10/25/online-guidance-system-walkme-raises-another-5-5m-to-make-sure-that-we-never-get-lost-on-a-website-again/. 
  35. ↑ "Website guide co WalkMe raises $11m – Globes" (in he). en.globes.co.il. 1 April 2014. https://en.globes.co.il/en/article-website-guide-co-walkme-raises-$11m-1000928943. 
  36. ↑ "WalkMe Raises Another $25M For Its Platform To Get Around Websites And Software More Easily". TechCrunch. https://techcrunch.com/2015/06/12/walkme-raises-another-25m-for-its-platform-to-get-around-websites-and-software-more-easily/. 
  37. ↑ 37.0 37.1 "On-screen guidance startup WalkMe raised $50M led by Insight, now valued around $400M". TechCrunch. https://techcrunch.com/2016/06/02/on-screen-guidance-startup-walkme-raised-50m-led-by-insight-now-valued-around-400m/. 
  38. ↑ "WalkMe leads wave of Israeli startup funding with $75 million" (in en). Haaretz.com. https://www.haaretz.com/israel-news/business/walkme-leads-wave-of-startup-funding-with-75-million-1.5435492. 
  39. ↑ "SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offerings". 5 June 2024. https://news.sap.com/2024/06/sap-enters-agreement-to-acquire-walkme/. 



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