MOUNTAIN VIEW — Workato, which develops a platform for business automation, has announced $110 million in Series D funding led by investment firm Altimeter Capital alongside Insight Partners. Pauline Yang, partner at Altimeter Capital, will join Workato’s board of directors as an observer. Existing investors, Redpoint Ventures and Battery Ventures, also participated in the round.
This investment brings the total capital raised by the company to over $221 million and values Workato at $1.7 billion.
“There’s been explosive growth in business apps and cloud technologies, but their potential remains largely untapped. This explosion has created tech chaos with siloed data, fragmented business processes and broken UX,” said Vijay Tella, CEO and co-founder of Workato. “Workato addresses this with a single platform built for business and IT that easily, reliably, and securely connects their apps, data, and business processes so teams can work smarter and faster. With our new investment, we’re looking forward to helping other companies around the world use integration-led automation to transform how they work.”
Workato allows companies to maximize the value of their apps, data and people by making it easy to integrate disconnected data and applications, and securely automate workflows to accelerate business outcomes. Previously, businesses attempted to achieve this using a patchwork of different technologies, including Robotic Process Automation (RPA), Integration Platform as a Service (iPaaS), business process management (BPM) and chatbots. This legacy approach requires teams of specialists and results in fragile application and workflow connections that are insecure and hard to scale. Workato’s no code/low code platform combines enterprise-grade integration and automation capabilities in a single platform that is trusted by IT and easy to use for the business. With Workato, IT and business teams can more easily collaborate to rapidly integrate data, processes, applications and user experiences in almost any combination without compromising security and governance.
Workato’s integration-led automation platform is used by more than 7,000 businesses, including Broadcom, Coupa, Intuit, Autodesk, Nutanix and Rapid7. With a rapidly growing community of over 70,000 users who can create automations from scratch or get started faster with over 500,000 pre-built automation “recipes,” Workato’s cloud-native platform automates processes in marketing, sales, finance, HR, IT, and many other business areas so that teams can work faster and smarter.