WalkMe Ltd. is an American multinational software-as-a-service (SaaS) company, with headquarters in San Francisco, California.[2][3][4] Its digital adoption platform (DAP) was recognized in Everest Group's PEAK Matrix Assessment of DAP vendors as the leading DAP product.[5] 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.[6]
 | |
| Available in | English, Multi-language |
|---|---|
| Traded as | Nasdaq: WKME |
| Headquarters | 350 Mission Street San Francisco, California, U.S. |
| Key people | Dan Adika (CEO) Rafael Sweary (President) Hagit Inon (Interim CFO) |
| Industry | SaaS, software, no-code development platform, artificial intelligence, Business process automation |
| Products | WalkMe Digital Adoption Platform (DAP) |
| Revenue |  $245 million (2022)[1] |
| Employees | 1,100 |
| Parent | SAP |
| Subsidiaries | Abbi, Jaco, DeepUI, Zest |
| URL | www |
| Launched | April 2012 |
The company's initial public offering (IPO) took place on June 16, 2021, and resulted in a valuation of US$2.56 billion.[7] WalkMe was acquired by SAP for $1.5 billion in 2024.
History
editWalkMe Inc. was founded in 2011 by Dan Adika, Rafael Sweary, Eyal Cohen and Yuval Shalom Ozanna. In April 2012, they launched the product WalkMe.[3][8] In 2017, WalkMe acquired mobile A/B testing and app engagement platform Abbi,[9] and analytics startup Jaco.[10] User interface artificial intelligence company DeepUI.ai was acquired in June 2018,[11] and information enablement tool Zest was acquired in 2021.[12]
In June 2024, SAP announced that it has entered into an agreement to acquire WalkMe for $1.5 billion.[13][14] The waiting period for the acquisition expired in July 2024 under the Hart–Scott–Rodino Antitrust Improvements Act, with the acquisition expected to be completed by the year-end pending satisfaction of other conditions of the agreement.[15] The acquisition was completed in September 2024.[16]
Corporate affairs
editIn April 2020, WalkMe and Microsoft announced a partnership in which WalkMe's DAP is embedded in Microsoft Dynamics 365 for customers and partners.[17]
In May 2020, Andrew Casey was appointed as the company's first Chief Financial Officer (CFO).[18]
In October 2020, WalkMe launched its Digital Adoption Institute to the public for providing a scholarship and upskilling courses in digital adoption.[19]
Funding
editWalkMe 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.[20]
- In April 2012, WalkMe raised US$1 million in its Series A round, led by Mangrove Capital Partners.[21]
- In October 2012, it raised its Series B funding of US$5.5 million, led by Gemini Israel Ventures.[22]
- In April 2014, WalkMe raised US$11 million in its Series C funding round led by Scale Venture Partners.[23]
- In June 2015, WalkMe raised Series D of US$25 million, led by Greenspring Associates.[24]
- In May 2016 and July 2017, WalkMe raised a total of US$125 million in its Series E round led by Insight Partners.[25][26]
- In September and November 2018, WalkMe raised Series F funding of US$50 million from Insight Partners and EDBI.[25]
- In December 2019, WalkMe raised US$90 million in its Series G round of funding led by Vitruvian Partners.[20]
- 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.[27]
References
edit- ^ "WalkMe Ltd. Announces Fourth Quarter 2022 Financial Results". WalkMe.
- ^ Dylan Tweney (2014-04-01). "WalkMe raises $11M to hold your hand as you click through websites". VentureBeat. Retrieved 2014-06-16.
- ^ a b Klie, Leonard (2013-11-01). "Customer Support: Keeping Up with the Digital Migration – CRM Magazine". Destinationcrm.com. Retrieved 2014-06-16.
- ^ "2014 Digital Marketing Forecast: 7 Trends To Watch". Nusaresearch.com. Retrieved 9 August 2017.
- ^ "Digital Adoption Platform (DAP) Products PEAK Matrix® Assessment with Technology Vendor Landscape 2020". Everest Group. Retrieved 14 April 2021.
- ^ "WalkMe headquarters and office locations". craft.co. Retrieved 5 April 2021.
- ^ Solomon, Shoshanna (16 June 2021). "Israel's WalkMe raises $287 million in Nasdaq IPO at $2.5 billion valuation". www.timesofisrael.com. Retrieved 20 June 2021.
- ^ "The Company". WalkMe. Retrieved 2014-06-16.
- ^ Lunden, Ingrid (13 January 2017). "WalkMe acquires Abbi.io to add mobile A/B testing and engagement – TechCrunch". Techcrunch.com. Retrieved 9 August 2017.
- ^ Keane, Jonathan (April 4, 2017). "Israel's WalkMe acquires analytics startup Jaco". TechEU. Retrieved 10 December 2017.
- ^ "WalkMe buys Israeli machine learning co DeepUI". Globes. 20 June 2018. Retrieved 14 April 2021.
- ^ "Tel Aviv-founded digital adoption platform WalkMe acquires AI search company Zest". Tech.eu. Retrieved 20 June 2021.
- ^ "Software giant SAP agrees to buy WalkMe for $1.5 billion cash". Associated Press. June 5, 2024.
- ^ "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. Retrieved 2024-06-06.
- ^ Cuthbert, Jon (18 July 2024). "WalkMe (NASDAQ:WKME) clears hurdle for merger with SAP SE". Grafa.
- ^ "SAP Completes Acquisition of WalkMe" (Press release). SAP News. September 12, 2024.
- ^ "Microsoft joins digital platform WalkMe to boost Dynamics 365 sales". Express Computer. 7 April 2020. Retrieved 14 April 2021.
- ^ Muskett, Lauren (13 March 2020). "CFOs On the Move: Week Ending March 13". CFO. Retrieved 14 April 2021.
- ^ "Digital Adoption Institute Launches with Free Scholarships to Fuel the Reskilling Revolution". finance.yahoo.com. Retrieved 14 April 2021.
- ^ a b "WalkMe raises $90 million to help people navigate user interfaces with on-screen prompts". VentureBeat. 9 December 2019. Retrieved 12 April 2021.
- ^ "Help Gratefully Received: On-Screen Web Guidance System WalkMe Picks Up $1M+ From Mangrove". TechCrunch. Retrieved 14 April 2021.
- ^ "Online Guidance System WalkMe Raises Another $5.5M To Make Sure That We Never Get Lost On A Website Again". TechCrunch. Retrieved 14 April 2021.
- ^ "Website guide co WalkMe raises $11m – Globes". en.globes.co.il (in Hebrew). 1 April 2014. Retrieved 14 April 2021.
- ^ "WalkMe Raises Another $25M For Its Platform To Get Around Websites And Software More Easily". TechCrunch. Retrieved 14 April 2021.
- ^ a b "On-screen guidance startup WalkMe raised $50M led by Insight, now valued around $400M". TechCrunch. Retrieved 14 April 2021.
- ^ "WalkMe leads wave of Israeli startup funding with $75 million". Haaretz.com. Retrieved 14 April 2021.
- ^ "SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offerings". 5 June 2024.