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WalkMe

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WalkMe Ltd.
Available inEnglish, Multi-language
Traded asNasdaq: WKME
Headquarters350 Mission Street
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)[1]
Employees1,100
ParentSAP
SubsidiariesAbbi, Jaco, DeepUI, Zest
URLwww.walkme.com
LaunchedApril 2012; 12 years ago (2012-04)

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]

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

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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.[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

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In 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

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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.[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

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  1. ^ "WalkMe Ltd. Announces Fourth Quarter 2022 Financial Results". WalkMe.
  2. ^ Dylan Tweney (2014-04-01). "WalkMe raises $11M to hold your hand as you click through websites". VentureBeat. Retrieved 2014-06-16.
  3. ^ a b Klie, Leonard (2013-11-01). "Customer Support: Keeping Up with the Digital Migration – CRM Magazine". Destinationcrm.com. Retrieved 2014-06-16.
  4. ^ "2014 Digital Marketing Forecast: 7 Trends To Watch". Nusaresearch.com. Retrieved 9 August 2017.
  5. ^ "Digital Adoption Platform (DAP) Products PEAK Matrix® Assessment with Technology Vendor Landscape 2020". Everest Group. Retrieved 14 April 2021.
  6. ^ "WalkMe headquarters and office locations". craft.co. Retrieved 5 April 2021.
  7. ^ 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.
  8. ^ "The Company". WalkMe. Retrieved 2014-06-16.
  9. ^ Lunden, Ingrid (13 January 2017). "WalkMe acquires Abbi.io to add mobile A/B testing and engagement – TechCrunch". Techcrunch.com. Retrieved 9 August 2017.
  10. ^ Keane, Jonathan (April 4, 2017). "Israel's WalkMe acquires analytics startup Jaco". TechEU. Retrieved 10 December 2017.
  11. ^ "WalkMe buys Israeli machine learning co DeepUI". Globes. 20 June 2018. Retrieved 14 April 2021.
  12. ^ "Tel Aviv-founded digital adoption platform WalkMe acquires AI search company Zest". Tech.eu. Retrieved 20 June 2021.
  13. ^ "Software giant SAP agrees to buy WalkMe for $1.5 billion cash". Associated Press. June 5, 2024.
  14. ^ "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.
  15. ^ Cuthbert, Jon (18 July 2024). "WalkMe (NASDAQ:WKME) clears hurdle for merger with SAP SE". Grafa.
  16. ^ "SAP Completes Acquisition of WalkMe" (Press release). SAP News. September 12, 2024.
  17. ^ "Microsoft joins digital platform WalkMe to boost Dynamics 365 sales". Express Computer. 7 April 2020. Retrieved 14 April 2021.
  18. ^ Muskett, Lauren (13 March 2020). "CFOs On the Move: Week Ending March 13". CFO. Retrieved 14 April 2021.
  19. ^ "Digital Adoption Institute Launches with Free Scholarships to Fuel the Reskilling Revolution". finance.yahoo.com. Retrieved 14 April 2021.
  20. ^ a b "WalkMe raises $90 million to help people navigate user interfaces with on-screen prompts". VentureBeat. 9 December 2019. Retrieved 12 April 2021.
  21. ^ "Help Gratefully Received: On-Screen Web Guidance System WalkMe Picks Up $1M+ From Mangrove". TechCrunch. Retrieved 14 April 2021.
  22. ^ "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.
  23. ^ "Website guide co WalkMe raises $11m – Globes". en.globes.co.il (in Hebrew). 1 April 2014. Retrieved 14 April 2021.
  24. ^ "WalkMe Raises Another $25M For Its Platform To Get Around Websites And Software More Easily". TechCrunch. Retrieved 14 April 2021.
  25. ^ a b "On-screen guidance startup WalkMe raised $50M led by Insight, now valued around $400M". TechCrunch. Retrieved 14 April 2021.
  26. ^ "WalkMe leads wave of Israeli startup funding with $75 million". Haaretz.com. Retrieved 14 April 2021.
  27. ^ "SAP Enters into Agreement to Acquire WalkMe, Driving Business Transformation by Enhancing the Customer Experience and Enriching SAP Business AI Offerings". 5 June 2024.
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