WalkMe Ltd., which has developed a uer-friendly step-by-step guidance app for applications and websites, has raised $11 million in its third financing round. Scale Venture Partners of the US led the round, joined by current investors Gemini Israel Ventures, Giza Venture Capital, and Mangrove Capital Partners. The company has raised $17.5 million to date.
Scale partner Rory O'Driscoll will join WalkMe's board following the investment. Scale Venture Partners previously invested in Israeli start-up uTest Ltd. and US cloud content management solutions developer Box Ltd., which is planning an IPO.
WalkMe was founded by CEO Dan Adika, president Rafi Sweary, CPO Eyal Cohen, and Yuval Shalom in 2011. Its platform allows website owners to build step-by-step guidebooks for using their sites. The platform's purposes include lowering technical support costs and improving customer interaction and involvement. The company has more than doubled its staff in the past 12 months, and it is still hiring.
"WalkMe has driven a stake through the hearts of the passive offline FAQ and help menus, providing instead directed step-by-step guidance at the interaction point," said O'Driscoll.
"Organizations invest heavily in time and money in programs to improve their business and customer service. But they must deal with complicated challenges, such as low adoption rates, the need for continuous employee training, and users' adapting to ever more frequent updates in the cloud era," said Adika. "We see a growing market need for technology that simplifies the user experience, enhances users' efficiency and performance, and allows large-scale sales and smart marketing at lower cost. This is where WalkMe comes into the picture."
Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2014
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