Workato, the leading and fastest-growing enterprise automation platform, announced it has secured $70 million in Series C funding led by Redpoint Ventures with participation from Norwest Venture Partners, Geodesic Capital, and existing investors Battery Ventures and Storm Ventures. This brings the total investment in Workato to $111 million with support from several of the largest SaaS companies, including Salesforce, ServiceNow, and Workday, which participated in previous funding rounds.
With the explosion in SaaS, enterprises are using thousands of apps across all lines of business leading to the rise of a new function–Business Technology (BT). The Business Technology teams, reporting to either IT or business, work in tandem with business teams to harness the power of these applications, integrate, and automate their workflows. The rise in Business Technology teams and their need to work with business teams and a rapidly growing number of apps, is driving the need for a new type of platform.
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More than 6,000 enterprises rely on Workato, including Intuit, Coupa, Nutanix, Slack, Procore, Grab, Rapid7, and Autodesk. Workato has more than tripled its growth since it raised Series B funding in 2018 and is expanding its workforce by hiring for a broad range of strategic roles around the globe. The company also continues to accelerate its product roadmap and expand its Application Partner community with SaaS companies, including Zendesk, Snowflake, OutSystems, Marketo, ServiceNow and Salesforce.
“Workato relieves the intense pressure businesses face to become dynamic digital companies and enables business technology teams to deliver on those needs,” said Vijay Tella, CEO of Workato. “This funding enables us to further accelerate our vision to help businesses innovate faster with enterprise-wide automations through a single, powerful, secure platform that addresses all the integration and automation needs of an enterprise and that can be used by both business and IT.”
Workato also remains committed to accelerating thought leadership on Business Technology through the community of Business Technology professionals, Systematic. With chapters in the Bay Area, Boston, New York, and Singapore, it is the largest global community of Business Technology professionals. This also includes the recent launch of the Women in Business Systems chapter and Business Systems Magic conference–the only conference for people in Business Technology.
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“Enterprise automation is one of the most important and strategic priorities of businesses today,” said Satish Dharmaraj, Partner at Redpoint Ventures. “Workato’s customers are really passionate about Workato–something that you don’t often see in enterprise software. With the shift happening towards SaaS and Hybrid Environments, Workato is in an excellent position to further accelerate its leadership in what is one of the largest markets in software today.”
Workato is the operating system for today’s fast-moving business. Recognized as a leader, Workato is the only enterprise automation platform that enables both business and IT to integrate their apps and automate even the most mission-critical workflows without compromising security and governance. Workato is trusted by over 6,000 of the world’s top brands and fastest growing innovators.
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