California-based Workato is one of the leaders in enterprise automation platforms and supports organisations to work faster and smarter without jeopardising security and governance. In a recent development, the company has closed $200 million in Series E funding.
The investment round was led by Battery Ventures along with participation from Insight Partners, Altimeter Capital, Tiger Global, Geodesic Capital and Redpoint Ventures. With this round, Workato reaches a valuation of $5.7 billion. It follows the previous round of $110 million in Series D funding that it raised earlier this year and the overall investment accounts for over $420 million.
Workato launched an EMEA data center in Frankfurt early in 2021 and now it plans to capitalise on the same with the latest financing round. It will use the funds to expand its EMEA customer success team and leadership and hold the first user conference in Europe. Also, it will set up a customer advisory board in Europe and expand its ecosystem of partners. It will boost its presence in Europe while it currently operates in Ireland, France, Spain, the UK, Germany, and Israel. Workato will open new offices in Benelux and the Nordics as well.
The company will accelerate its product roadmap with this funding round along with its leadership in enterprise automation. It will continue to drive its automation movement as well.
How did Workato start?
Workato was founded by Vijay Tella, Gautham Viswanathan and Harish Shetty in 2013 as they decided to build a new type of software that will solve a common headache faced by corporates. It creates integration software, which ties apps together securely and automates all repetitive tasks.
Now, Workato is a leader in its industry and helps organisations work faster and smarter without compromising on security. It is trusted by over 11,000 of the top global brands like Broadcom, Intuit, Box, Autodesk, and HubSpot.
How does it work?
Workato adopts the approach of integration, which is a set of steps that will flow to get the intended task done between integrated applications. The integrated applications will finish tasks based on the core components such as apps, triggers, and actions. The ultimate motto of this startup is to deliver maximum power, maximum simplicity, and maximum connectivity. There is no coding needed, and the platform employs its patented technology and machine learning to create and implement automations 10x faster than traditional platforms.
Workbot by Workato
Workato has invested heavily in its Workbots for Microsoft and Slack. The Workbot for Slack lets you configure the custom Slack’s chatbot, which draws details from and initiates actions securely without a single line of code. Its functionalities include automating ChatOps, orchestrating approval workflows, connected sales and marketing and connected support.
Likewise, the Workbot for MS Team from Workato is a chat-based workspace bringing data, people, and conversation with tools together. It is dedicated to the users of MS Office. Its functionalities include relevant notifications and virtual progress tracking. Proactive prompts, know your customers and customise the workbot.
Takes a ditch at competitors
Before this, there were tools like MuleSoft, a subsidiary of Salesforce and Dell Boomi, which was touted to be highly technical and difficult for businesses. While these products are capable, they require a lot of technical skills. Only a few people knew how to use them. Also, there are tools from Zaiper that are easier to use but not ideal for enterprises. Workato filled this gap that exists in the enterprise automation industry.