Company:WalkMe

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Short description: American web-based software company
WalkMe
WalkMe logo 2014.png
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
Websitewww.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]

Product

WalkMe's Digital Adoption Platform (DAP) is a code-free digital adoption platform which provides product managers and application owners with software and feature adoption tools, as well as change management solutions for web, desktop, and mobile applications. The platform is divided into content creation and design sections for building, managing, and publishing content on top of mobile, web, and desktop applications, as well as data and analytics components to assess user experiences and adoption of software.[17][18] The solutions offered in the product culminate in 4 major categories:

Guidance

Within applications and websites, the WalkMe builder can create guided walkthroughs which contextually appear to the user as they navigate throughout a given platform.[18][19]

Engagement

The engagement tools include various methods of notifying users within websites and applications about the steps they need to take or have missed.[20]

Insights

WalkMe Insights provides business executives visibility across their applications and shows where processes need to be changed to improve user efficiency[21]

  • Management Dashboards: Provide visibility for business executives into system usage and user productivity across the tech portfolio[22]
  • Digital Experience Analytics (DXA): Provides visibility into user experiences across applications to pinpoint where users struggle and continuously optimize experiences[23][24]
  • Tracked events & funnels: Tracks any meaningful event on a website or business application and use funnels to analyze specific behaviors[25]
  • Session Stream & Session Playback: Recreates user journeys by viewing past user sessions in video or list, to analyze user journeys and points of unintended friction[26]
Automation

WalkMe's platform provides system owners with no-code tools by which they can build automated processes, as well as an ActionBot.[27]

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.[28]

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.[29]

In October 2020, WalkMe launched its Digital Adoption Institute to the public, including a scholarship to those unemployed and on furlough by upskilling them in digital adoption.[30]

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.[31]
  • In October 2012, it raised its Series B funding of US$5.5 million, led by Gemini Israel Ventures.[32]
  • In April 2014, WalkMe raised US$11 million in its Series C funding round led by Scale Venture Partners.[33]
  • In June 2015, WalkMe raised Series D of US$25 million, led by Greenspring Associates.[34]
  • In May 2016 and July 2017, WalkMe raised a total of US$125 million in its Series E round led by Insight Partners.[35][36]
  • In September and November 2018, WalkMe raised Series F funding of US$50 million from Insight Partners and EDBI.[35]
  • In December 2019, WalkMe raised US$90 million in its Series G round of funding led by Vitruvian Partners.[10]

References

  1. ↑ "WalkMe US Headquarters". https://www.walkme.com/contact. 
  2. ↑ "WalkMe Ltd. Announces Fourth Quarter 2022 Financial Results". https://ir.walkme.com/news-releases/news-release-details/walkme-ltd-announces-fourth-quarter-2022-financial-results. 
  3. ↑ 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/. 
  4. ↑ 4.0 4.1 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. 
  5. ↑ "2014 Digital Marketing Forecast: 7 Trends To Watch". http://nusaresearch.com/marketing/detail.php?ID=50. 
  6. ↑ "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. 
  7. ↑ "WalkMe headquarters and office locations". craft.co. https://craft.co/walkme/locations. 
  8. ↑ "WalkMe". Frost & Sullivan. https://ww2.frost.com/wp-content/uploads/2020/05/WalkMe-Award-Write-Up.pdf. 
  9. ↑ "The Cloud 100 2020" (in en). Forbes. https://www.forbes.com/cloud100/#512a1e715f94. 
  10. ↑ 10.0 10.1 10.2 "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/. 
  11. ↑ Solomon, Shoshanna (16 June 2021). "Israel's WalkMe raises $287 million in Nasdaq IPO at $2.5 billion valuation". www.timesofisrael.com. https://www.timesofisrael.com/israels-walkme-raises-287-million-in-nasdaq-ipo-at-2-5-billion-valuation/. 
  12. ↑ "The Company". WalkMe. http://www.walkme.com/aboutwalkme/the-company/. 
  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. ↑ Dave Johnson (2013-06-04). "Create online employee tutorials for free". CBS News. http://www.cbsnews.com/news/create-online-employee-tutorials-for-free/. 
  18. ↑ 18.0 18.1 Administrative Professional Today (2013-09-03). "1-Minute Strategies: Sept. '13 — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily". Businessmanagementdaily.com. http://www.businessmanagementdaily.com/36259/1-minute-strategies-sept-13. 
  19. ↑ "Engage and Guide Customers: A WalkMe Review". smallbusinesscomputing.com. https://www.smallbusinesscomputing.com/ProductReviews/Software/walkme-review-on-screen-tutorials-made-easy.html. 
  20. ↑ "8 Web Apps That Will Change Your Business". Cio.com. 2013-06-06. http://www.cio.com/slideshow/detail/104265/8-Web-Apps-That-Will-Change-Your-Business#slide7. 
  21. ↑ "WalkMe prepares to go public at a $4 billion valuation". calcalistech.com. https://www.calcalistech.com/Article.aspx?guid=3891474. 
  22. ↑ Alexander, Moira (25 March 2021). "The top 7 change management tools" (in en). CIO. https://www.cio.com/article/3284925/the-top-change-management-tools.html. 
  23. ↑ Kepes, Ben (4 April 2017). "WalkMe, the most obvious tool in the world, releases research and makes an acquisition" (in en). Computerworld. https://www.computerworld.com/article/3186767/walkme-the-most-obvious-tool-in-the-world-releases-research-and-makes-an-acquisition.html. 
  24. ↑ "WalkMe: a Great Way to Improve the User Experience and Harvest Business Benefits? | The Customer & Leadership Blog". Thecustomerblog.co.uk. 2 May 2013. http://thecustomerblog.co.uk/2013/05/02/walkme-a-great-way-to-improve-the-user-experience-and-harvest-business-benefits/. 
  25. ↑ Lepofsky, Alan (May 12, 2017). "Digital Adoption Platforms: A New Breed of Software Helps Improve User Adoption of New Technologies". Constellation Research: 10. http://blog.walkme.com/wp-content/uploads/2017/05/20170512-CR-A-LEPOFSKY-DIGITAL-ADOPTION-PLATFORMS-FINAL-1-1.pdf. Retrieved 21 February 2018. 
  26. ↑ "Digital Adoption Platform & Analytics: Transform Your User Engagement". Digital Adoption. 15 April 2019. https://www.digital-adoption.com/digital-adoption-platform-analytics/. 
  27. ↑ Brown, Eileen. "WalkMe ActionBot understands enterprise users' needs" (in en). ZDNet. https://www.zdnet.com/article/walkme-actionbot-understands-enterprise-users-needs/. 
  28. ↑ "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/. 
  29. ↑ 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/. 
  30. ↑ "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. 
  31. ↑ "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/. 
  32. ↑ "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/. 
  33. ↑ "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. 
  34. ↑ "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/. 
  35. ↑ 35.0 35.1 "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/. 
  36. ↑ "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. 

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