WalkMe raises $10m more from Singapore's EDBI

Rephael Sweary Photo: WalkMe

The Israeli digital adoption platform software company will use the new funds to continue its expansion in the Asia-Pacific region and Europe.

Israeli digital adoption platform software company WalkMe today announced that Singapore-based EDBI has invested$10 million to help the company expand in Asia via Singapore. This boosts WalkMe's Series F financing round to $50 million, at a company valuation of $1 billion and means that the company, founded in 2011, has raised $217.5 million to date.

WalkMe cofounder and president Rephael Sweary said, "Digital transformation is an issue facing organizations of all sizes and across all industries worldwide. With almost 2,000 customers using our solution, WalkMe is at the forefront of the digital transformation trend, however, there's still an immense opportunity for us to upend how users interact with technology. EDBI's investment will help us continue to solidify our market leadership by forging an even stronger presence in the Asia Pacific region."

Chu Swee Yeok, CEO of EDBI, which is owned by the Singapore government, said. "WalkMe provides an impressive AI and data analytics-powered engagement platform to help enterprises better adopt digital solutions and improve employee efficiency. We are excited to have this opportunity to support WalkMe as they extend their digital capabilities to enterprises in Asia. We believe that WalkMe will be an important enabler to enterprises' digital transformation journeys to scale businesses and drive productivity."

With 660 employees worldwide, more than half of them in Israel, WalkMe already has a strong foothold in Asia Pacific, with offices in Australia and Japan. The new investment will help the company continue its growth in both Asia Pacific and Europe.

Published by Globes, Israel business news - en.globes.co.il - on November 13, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Rephael Sweary Photo: WalkMe
Rephael Sweary Photo: WalkMe
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