Workato, the leader in enterprise automation, announced $200 million in Series E funding.
The new funding values Workato at $5.7 billion and comes just nine months after its $110 million Series D. Workato has raised over $420 million in total funding to date.
The investment arrives at a time of rapid growth for Workato and the automation market as a whole, as enterprises recognize the urgent need to increase their agility, innovation and efficiency against a backdrop of transformation and change. The pandemic has driven an even greater need for business excellence, and companies have responded by automating core workflows, seeking out low-code tools that empower employees to work quickly and autonomously.
Historically, companies have been forced to deploy a variety of integration and automation tools to optimize 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.
Workato’s latest funding will be used to further 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 specializes 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.
The round will also be used to aid Workato’s further expansion in the U.S., EMEA and APAC. This global expansion includes opening additional data centers in APAC, adding support for regional languages, and accelerating the product roadmap to address the needs of local regions.
Vijay Tella, Workato CEO and Co-founder
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 organizational transformation.
