Workato has raised $200 million in Series E funding led by Battery Ventures, with equal participation from Insight Partners, Altimeter Capital and Tiger Global.
Geodesic Capital and Redpoint Ventures also participated in this round of financing. The new funding values California-based Workato at $5.7 billion and comes just nine months after its $110 million Series D.
“Businesses are still struggling to achieve true transformation because RPA and integration tools cannot scale to address the needs of enterprises today,” said 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 organisational transformation,” said Tella.
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.
More than 11,000 customers now use Workato’s enterprise automation platform to automate their critical business processes.
In the past 12 months, Workato has more than tripled its Singapore headcount with plans to double the size of the Asia Pacific team in the next year.
Also, Wokrato received accreditation by IMDA (Infocomm Media Development Authority of Singapore) as qualified contenders to government and large enterprise buyers.
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.
Also, Workato is launching the “10,000 Connector Initiative” with the acquisition of RailsData, which specialises 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 United States; Europe, Middle East and Africa; and Asia Pacific.
This global expansion includes opening additional data centres in APAC, adding support for regional languages, and accelerating the product roadmap to address the needs of local regions.