Workato, a California-based enterprise automation platform assisting corporations in working smartly and faster without sacrificing security and governance, has secured US$ 200 million in a Series E funding round led by Battery Ventures on 10 November 2021.
Investors: The latest investment round featured Battery Ventures as the lead investor with participation from Tiger Global Management, Redpoint, Insight Partners, Geodesic Capital and Altimeter Capital.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards further expanding its operations in EMEA and establishing offices in the Nordics and Benelux.
Brought to existence in 2013 by Dimitris Kogias, Alexey Timanovsky, Gautham Viswanathan, Harish Shetty and Vijay Tella, Workato operates as a smart automation platform developed to automate work processes in an enterprise. It aids enterprises to develop business-critical and robust integrations among cloud applications in minutes. The firm achieved exponential growth of 243% in just Europe in the past 12 months. With the advent of the pandemic, businesses have increasingly adopted workflow automation to drive efficiency, looking for low-code instruments that support working staff to perform functions autonomously and quickly. Workato’s working personnel in Europe has risen by 273%, and it has witnessed 2.14 times growth in its user base in 2021.
What the Founder has to say: “Enterprises are struggling to attain actual change as integration and RPA instruments cannot upgrade to face the requirements of enterprises today. The firm’s business automation marketplace, a sole platform for integration and automation that both IT and business can employ, confronts the drawbacks corporations face when attempting to automate at scale, allowing businesses to obtain the agility and speed requisite for organisational revolution. It is exhilarating to use these new funds for our users as they persistently push the boundaries of innovation.”- Vijay Tella, CEO and Co-founder of Workato.
What the Investor has to say: “The activities of the last ten months have made operational proficiency more vital than ever, and enterprises comprehend that business automation is essential to achieve innovation, higher performance, agility which is required to thrive for a business. The market for automation offerings will persistently expand, and we believe that Workato’s high tech, well-established collaborations will allow the company to leverage such great opportunity.”- Pauline Yang, Partner at Altimeter Capital.
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