Workato Announces $110M at $1.7B Valuation to Transform How Enterprises Work with Integration-Led Automation
Workato, the leader in integration-led automation, today announced $110 million in Series D funding led by global investment firm Altimeter Capital alongside Insight Partners. Pauline Yang, partner at Altimeter Capital, will join Workato's board of directors as an observer. Existing investors, Redpoint Ventures and Battery Ventures, also participated in the round. This investment brings the total capital raised by the company to over $221 million and values Workato at $1.7 billion.
“There’s been explosive growth in business apps and cloud technologies, but their potential remains largely untapped. This explosion has created tech chaos with siloed data, fragmented business processes and broken UX,” said Vijay Tella, CEO and co-founder of Workato. “Workato addresses this with a single platform built for business and IT that easily, reliably, and securely connects their apps, data, and business processes so teams can work smarter and faster. With our new investment, we’re looking forward to helping other companies around the world use integration-led automation to transform how they work."
Shaping the Future of Work for the Enterprise
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. This legacy approach requires teams of specialists and results in fragile application and workflow connections that are insecure and hard to scale. Workato’s no code/low code platform combines enterprise-grade integration and automation capabilities in a single platform that is trusted by IT and easy to use for the business. With Workato, IT and business teams can more easily collaborate to rapidly integrate data, processes, applications and user experiences in almost any combination without compromising security and governance.
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 automations 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.
A Record-Breaking Year Accelerated by COVID-19 and the Digital Imperative
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.
"The explosion of SaaS apps and increasingly complex hybrid environments have accelerated the need for integration-led automation. Workato has experienced such viral adoption because they are the first to combine enterprise-level integration and automation capabilities in a single platform with consumer ease of use,” said Pauline Yang, partner at Altimeter. "We are thrilled to be partnered with Vijay and the entire Workato team as they continue to transform how enterprises work."
“Our main challenges were the same challenges you see in most companies: rising costs, a growing IT backlog, and the need to effectively deal with risk. Now, two years into implementing Workato within our ML/NLP ecosystem, we’ve accelerated all of the work that IT does by over 30%. And although our company has grown rapidly, IT headcount and spend has remained flat,” said Wendy M. Pfeiffer, CIO at Nutanix. “Now that we’ve made headroom in our budget and within our existing team, we have the capacity for higher-level tasks. We’ve achieved 100% compliance with our SLAs, and our internal NPS scores regularly measure in the 90s. You can’t achieve this sustained performance by just staying the course. You have to use modern tools like Workato.”
The leader in integration-led automation, Workato helps organizations work faster and smarter without compromising security and governance. Built for business and IT users, Workato is trusted by over 7,000 of the world's top brands like Broadcom, Intuit, Box, Autodesk, and HubSpot. Headquartered in Mountain View, Calif., Workato is backed by Altimeter Capital, Battery Ventures and Redpoint Ventures. For more information, visit www.workato.com or connect with us on social media:
- Blog: https://www.workato.com/the-connector/
- Business Systems Community:https://systematic.workato.com/
- LinkedIn: https://www.linkedin.com/company/workato
1. Gartner. “Gartner Magic Quadrant for Enterprise Integration Platform as a Service.” Gartner., 2020, https://www.gartner.com/en/documents/3990698/magic-quadrant-for-enterprise-integration-platform-as-a-.
Mission North for Workato
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kyoto Semiconductor Signs Supply and Reseller Agreement With CEL13.4.2021 03:00:00 CEST | Press release
Kyoto Semiconductor Co., Ltd., a leading optical device solution manufacturer with world-class technologies and Japanese quality, has announced that it has entered into an agreement with California Eastern Laboratories (CEL) to be a multinational reseller of Kyoto Semiconductor’s optical device solutions. The partnership extends Kyoto Semiconductor’s sales and support network not only to North America but to countries such as India and Israel while it enhances CEL’s product offering with Kyoto Semiconductor’s high-quality photodiodes for optical communication and sensing equipment “Kyoto Semiconductor is pleased to collaborate with CEL, one of the best suppliers of compound and silicon semiconductors, known for its superior customer support and technological expertise. With this partnership, we extend our customer reach worldwide, ranging from North America to India or Israel”, said Tsuneo Takahashi, CEO at Kyoto Semiconductor. “Our products are critical for the 5G and beyond-5G wirele
Bentley Systems Brings Infrastructure Digital Twins to NVIDIA Omniverse12.4.2021 19:00:00 CEST | Press release
GTC21 – Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced that it is developing applications using the NVIDIA Omniverse platform for photorealistic, real-time visualization and simulation of digital twins of massive-scale industrial and civil infrastructure projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005214/en/ Image courtesy of Houston Waterworks Team (a Joint Venture of Jacobs Engineering Group, Inc. and CDM Constructors, Inc.) Bentley Systems has extended the Bentley iTwin platform to integrate with NVIDIA Omniverse to provide a graphics pipeline for AI-enhanced, real-time visualization, and simulation of infrastructure digital twins. This integration allows engineering-grade, millimeter-accurate digital content to be visualized with photorealistic lighting and environmental effects on multiple devices including web browsers, workstations, tabl
QCT Unveils Optimized Accelerated Server to Boost High-Performance Workloads12.4.2021 19:00:00 CEST | Press release
Quanta Cloud Technology (QCT), a global data center solution provider, today announced a new addition to its broad portfolio of NVIDIA-Certified SystemsTM with its QuantaGrid D43N-3U. This server complements QCT’s existing high-performance QuantaGrid and QuantaPlex family of servers, while enabling customers the ability to leverage the latest next-generation NVIDIA Tensor Core GPUs for advanced AI workloads, including those that run on virtualized infrastructure with the NVIDIA AI Enterprise software suite. NVIDIA Tensor Core GPUs on QCT systems are built on the rich ecosystem of AI frameworks from the NVIDIA NGC catalog, CUDA-X libraries, over 2.3 million developers, and over 1,800 GPU-optimized applications to help enterprises solve the most critical challenges in their business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005024/en/ QuantaGrid_D43N-3U (Photo: Business Wire) “Utilizing NVIDIA accelerated computing
Mavenir Launches 5G Hyperconverged Edge AI Solution for Enterprise & Telco Market Based on NVIDIA Platforms12.4.2021 19:00:00 CEST | Press release
Mavenir, the industry’s only end-to-end cloud-native Network Software Provider and a leader in accelerating software network transformation for communications service providers (CSPs), announced today the launch of an AI-on-5G Hyper Converged Edge solution working in close collaboration with NVIDIA. Mavenir has developed this unique solution, based on NVIDIA’s hardware and software technologies, enabling Enterprises & Telcos to implement AI-on-5G applications for many promising verticals such as Manufacturing, Mining, and Healthcare that cover Industry 4.0 applications, including Industrial Internet of Things (IIoT), Intelligent Video Analytics (IVA) and Extended Reality (XR) and Gaming use cases. The use cases can be around remote and immersive collaboration, precision robotics control, people safety, intrusion detection, smart connected factories, real-time manufacturing component defect detection and proactive maintenance using near real-time analytics of sensor data. 5G enables an
Merck Advances ATR Inhibitor Berzosertib in Small Cell Lung Cancer With New Published Data and Initiation of Phase II Trial With Registrational Intent12.4.2021 17:04:00 CEST | Press release
Merck, a leading science and technology company, today announced key clinical advancements for berzosertib (M6620), an investigational, potent and selective ataxia telangiectasia and Rad3-related (ATR) inhibitor. Berzosertib is the leading asset in the company’s DNA damage response (DDR) inhibitor program and one of the most advanced ATR inhibitors in oncology clinical development industry-wide. Results from a Phase II proof-of-concept study conducted by the US National Cancer Institute (NCI) (NCT02487095)* and published in Cancer Cell showed that berzosertib in combination with the chemotherapy topotecan resulted in an objective response rate (ORR) of 36% among patients with relapsed small cell lung cancer (SCLC), including durable responses among a majority of responding patients with platinum-resistant disease.1 The NCI is also conducting a separate Phase II trial of berzosertib in combination with topotecan versus topotecan monotherapy in SCLC that has relapsed (NCT03896503)* which
Loomis Sayles Welcomes Susan Sieker as Chief Financial Officer12.4.2021 16:15:00 CEST | Press release
Loomis, Sayles & Company, an affiliate of Natixis Investment Managers, announced today that Susan Sieker has joined Loomis Sayles as executive vice president and chief financial officer (CFO). She also joins the Loomis Sayles Board of Directors. Susan reports to Kevin Charleston, chairman and chief executive officer of Loomis Sayles, and will oversee the finance organization. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210412005613/en/ Susan joins Loomis Sayles from Cambridge Associates, where she was the chief financial officer and oversaw financial planning and analysis, treasury, accounting operations, financial reporting, payroll and taxes. Prior to joining Cambridge Associates in 2012, Susan served in a variety of finance and risk leadership roles at Brinker International, including vice president and treasurer, vice president of global infrastructure, vice president of benefits, vice president of business assurance
Alira Health Strengthens Its Growth Strategy With a $35M Funding, Led by Creadev12.4.2021 15:00:00 CEST | Press release
Alira Health (www.alirahealth.com), a leading international advisory firm dedicated to advancing healthcare and life sciences, announced it has closed a $35M equity financing led by Creadev, an evergreen investment company backed by the Mulliez family. This new partnership will help accelerate the firm’s growth strategy, focused on merging pharmaceutical, medical and digital technologies development with medical care through a patient-centric approach. “I would like to thank our team of investors for joining our mission to enable healthcare transformation. Their investment positions us to change the way life sciences advisory services are delivered,” said Gabriele Brambilla, Chief Executive Officer and Co-Founder of Alira Health. “We are building a powerful continuum of services that spans the product and solutions development life cycle, supported by the recent additions of our patient engagement, real-world evidence and advanced analytics practices. This financing allows us to advanc
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom