The San Francisco platform for making online guides has now raised a total of $17.5M. Since WalkMe launched two years ago, its revenues have increased five fold and its still looking to grow
Other investors that participated in this round include Mangrove Capital Partners, Giza Venture Capital and Gemini Israel Ventures. Along with the financing, SVP partner Rory O’Driscoll will join WalkMe’s board of directors.
Based in San Francisco, WalkMe is a platform for companies to design interactive online guidance systems. The company was founded in 2011 and its platform launched in April 2012.
“Businesses invest a lot of money and time in software and online services, yet new challenges arise – low adoption rates, the need for ongoing employee training, and introduction of updates and changes,” Dan Adika, WalkMe’s CEO, said in a statement. “We see a considerable growing market demand for technologies that simplify the user experience and allow for increased productivity, higher overall value and lower total cost of ownership. We have big plans for 2014 and beyond, and we have plenty of positions open for smart people who share our passion.”
Like an online GPS
The new funding will be used to further develop operations and customer acquisition. In the last year the company has doubled its staff and it is still looking for more employees. The company’s revenues also have increased more than five times.
Adika continued, “We chose Scale Venture Partners because they were excited, not intimidated, by our ambitious vision of changing the way people use software and websites. I am certain that ScaleVP, along with our existing investors, will empower WalkMe to build upon this huge momentum, to scale our business, to disrupt industries and to grow into a long-term company that matters.”
WalkMe provides cloud-based platforms designed to help customer service managers, user experience managers, training professionals and others develop guides for customers, employees or other partners. The platform also features contextual promotions, cross-selling capabilities and advanced analytics.
SVP is an early-in-revenue investor in cloud, mobile and internet sectors. The firm has $1 billion in assets under management and is investing in its fourth fund.