Israeli digital adoption company WalkMe said on Monday that it raised $90 million in a funding round led by investment group Vitruvian Partners.
The company, whose technology is meant to help users navigate the software, websites, and applications, said it will use the investment to expand into new markets, including Latin America, and scale its platform to meet customer demand.
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Previous investor Insight Partners also participated in the round. WalkMe said it has raised over $307 million to date.
WalkMe was founded in 2011 by CEO Dan Adika, president Rafi Sweary, CPO Eyal Cohen, and Yuval Shalom, who has since left the company.
Based in Tel Aviv, the digital adoption technology developer has over 2,000 customers. The company said that in the third quarter of 2019, its new business bookings grew 100% compared with the same period last year.
In a statement quoted by financial daily Globes, Sweary said, "This latest round of funding speaks to our success and to the untapped potential of digital adoption. WalkMe transforms how organizations gain visibility into their end-to-end business processes, driving workforce productivity, increasing customer satisfaction, and achieving higher operational efficiencies."
Mike Risman, Managing Partner of Vitruvian Partners said that "in a few short years, WalkMe has emerged as the category-defining market leader in the fast-growing Digital Adoption Solutions space. We are excited to partner with WalkMe as an investor during this pivotal time of accelerated growth and global expansion as the company capitalizes on its market leadership."
