WalkMe Secures $11 Million in Recent Round of Venture Capital Funding
The aptly-named startup WalkMe is revolutionizing the way customers navigate company websites, and they provide a more effective method for businesses to use to train their employees. Their product makes help menus and FAQs, which can themselves be a headache for users, obsolete by offering a cloud-based platform that provides on-screen guides for site navigation, with step-by-step instructions popping up as text balloons, so users never even have to leave the page when they need help.
The quality of their product has earned WalkMe some serious attention from investors. WalkMe secured $11 million in a recent round of financing led by Scale Venture Partners. This surge of funds more than doubles the company’s overall investment total, which, including the recent addition of $11 million, now stands at $17.5 million since WalkMe was founded in 2011. With this money, WalkMe plans to continue to fuel its expansion by adding new, highly skilled employees and reaching out to prospective customers. WalkMe has already worked with big names like Amazon Web Services, Cisco, Black & Decker, and US Foods.
Over the past year, WalkMe has doubled the size of its staff. The $11 million brings with it a new addition to the staff: Rory O’Driscoll, a partner at Scale Venture Partners, will now be a member of the WalkMe Board of Directors. O’Driscoll had this to say about WalkMe: “Great companies start with great products and the best software products need no explanation once you see them. The minute I saw WalkMe, I knew that enterprises would adopt it. [Their product] puts a stake in the heart of the passive, offline FAQ and Help menu and instead, provides a step-by-step guide at the point of interaction.”
Dan Adika, CEO of WalkMe, commented on the future of his startup: “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. We chose Scale Venture Partners because they were excited, not intimidated, by our ambitious vision of changing the way people use software and websites.”
Businesses in the United States collectively spend more than $150 billion annually on employee training. These businesses would be smart to use WalkMe to cut costs and chip away at this $150 billion figure, and many reputable corporations have already done so. WalkMe is another example of a startup that is using cloud computing in an innovative manner to make the business community more efficient as a whole, while making a tidy profit for themselves along the way.
By Adam Ritchie