<p><strong>MOUNTAIN VIEW</strong> &#8212; Workato, a specialist in enterprise automation, announced $200 million in Series E funding led by Battery Ventures, with equal participation from Insight Partners, Altimeter Capital and Tiger Global. Geodesic Capital and Redpoint Ventures also participated in this round of financing. The new funding values Workato at $5.7 billion and comes just nine months after its $110 million Series D. Workato has now raised over $420 million in total funding to date.</p>
<p>Built for Business and IT users, Workato is used by over 7,000 companies including Broadcom, Intuit, Box, Autodesk, and HubSpot.</p>
<p>Following the launch of its EMEA data centre in Frankfurt earlier this year, Workato plans to use the funds to further capitalise on the market opportunity in the region. The company has grown by 243% in Europe alone over the last 12 months as enterprises, in the wake of the pandemic have turned to workflow automation to boost business efficiencies; seeking out low-code tools that empower employees to work quickly and autonomously. Workato has increased headcount in the region by 273% and its customer base in EMEA has seen 2.14x growth this year and now includes enterprises such as Freenow and Adevinta.</p>
<p>The funds raised will go towards expanding its EMEA customer success team and senior leadership, holding the first user conference in Europe, setting up a customer advisory board in Europe and expanding its ecosystem of partners. The investment will also go towards boosting its European presence. The company currently has operations in Ireland, Spain, France, Germany, UK and Israel and is now looking to open additional offices in regions including Benelux and the Nordics to serve customers there.</p>
<p>The latest funding will also be used to accelerate the company’s product roadmap and leadership in enterprise automation, in addition to continuing to drive the integration-led automation movement. Workato, already a leader in connecting and integrating applications, is launching the “10,000 Connector Initiative” with the acquisition of RailsData, which specialises in the connectivity of applications, databases, and devices using APIs. With thousands of applications used by an enterprise, connectivity is critical to achieving automation at scale.</p>
<p>Historically, companies have been forced to deploy a variety of integration and automation tools to optimise their processes at the data, process, API and UX levels. This model is highly inefficient, and companies have flocked to Workato because it provides all of these capabilities in a single, low-code platform that allows business users and IT departments to collaborate on process automation.</p>
<p>&#8220;Businesses are still struggling to achieve true transformation because RPA and integration tools cannot scale to address the needs of enterprises today,&#8221; said Vijay Tella, Workato CEO and Co-founder. &#8220;Workato’s enterprise automation platform, a single platform for automation and integration that can be used by both Business and IT, addresses the challenges companies face when trying to automate at scale, enabling enterprises to achieve the speed and agility necessary for organisational transformation. We’re excited to put this new round of funding to work for our customers as they continue to push the boundaries of innovation.”<i></i></p>
<p>“Since leading Workato’s Series B in 2018, we’ve been excited to see the steady growth of usage among Workato’s customers—many of them leaders in their respective industries—and Workato’s solidifying position as a leader in the automation market, one of the fastest-growing sectors in technology,” said Neeraj Agrawal, a general partner at Battery Ventures. “We’ve had a front-row seat to watch Workato truly transform many of its customers’ businesses, which is one reason why we and other existing investors in the company are excited to lead this new funding round.”</p>
<p><i>“The events of the past 10 months have made operational excellence more critical than ever, and businesses understand that enterprise automation is a cornerstone to achieving the heightened agility, innovation and performance they need to succeed in any environment,” </i>said Pauline Yang, partner, Altimeter Capital.<i> “The market for automation products will only continue to expand, and we believe that Workato has the best technology, partnerships and leadership team in place to capitalise on this exciting opportunity.”</i></p>

SAN FRANCISCO -- Wispr, the voice-to-text AI that turns speech into clear, polished writing in every…
SAN FRANCISCO -- Numeric, an AI accounting automation platform, has raised a $51 million Series…
Apple has announced 45 finalists for this year’s App Store Awards, recognizing the best apps…
The University of California (UC) and the California Nurses Association (CNA) have reached a tentative…
SAN FRANCISCO -- House Rx, a health tech company focused on making specialty medications more accessible and…
Britain's King has given an award to the King of NVIDIA! NVIDIA founder and CEO…