Is the fossil fuel recovery real, or a stepping stone to a fossil-free future? Register now for our 11/17 webinar at 2PM ET
Funding will be used to further capitalize on rapidly growing automation market, accelerating global expansion and extending product leadership, as well as fuel acquisitions like application connector firm, RailsData
MOUNTAIN VIEW, Calif., November 10, 2021–(BUSINESS WIRE)–Workato, the leader in enterprise automation, today announced $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 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.
"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 organizational transformation. We’re excited to put this new round of funding to work for our customers as they continue to push the boundaries of innovation."
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 doubled new ARR, with growth accelerating every quarter
Nearly doubled the customer base with additions like Stitch Fix, Gitlab, NYU, Nokia, Lucid Motors, joining Broadcom, Toast, and many others
More than tripled the growth in business processes automated by customers and quadrupled the workload per customer
Expanded in EMEA with a new GDPR-compliant data center in Frankfurt
Acquired RailsData to create an application connector factory, increasing the number of application connectors by over 10x in the next few years
More than doubled employee headcount
Been recognized as a leader in Gartner’s Enterprise iPaaS Magic Quadrant for the fourth year in a row – with the largest positive movement of any leader this year
Hosted its first user conference, Workato Automate, which attracted more than 12,000 participants
Been named to the Forbes Cloud 100, the definitive ranking of the top 100 private cloud companies in the world
Been recognized in the Deloitte Fast 500 as one of the top 100 fastest growing companies globally
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. A key hire made in response to Workato’s strong growth and expansion plans in Europe is that of Robert Ekstrom, who joins Workato as VP & GM EMEA. Ekstrom previously held management roles at leading multinationals including Dell, EMC and Xerox and most recently was VP & GM at Blue Prism, an enterprise intelligent automation vendor.
"Since leading Workato’s Series B in 2018, we’ve been excited to see the steady growth of usage among Workato’s customers—many of them leaders in their respective industries—and Workato’s solidifying position as a leader in the automation market, one of the fastest-growing sectors in technology," said Neeraj Agrawal, a general partner at Battery Ventures. "We’ve had a front-row seat to watch Workato truly transform many of its customers’ businesses, which is one reason why we and other existing investors in the company are excited to lead this new funding round."
"The events of the past 10 months have made operational excellence more critical than ever, and businesses understand that enterprise automation is a cornerstone to achieving the heightened agility, innovation and performance they need to succeed in any environment," said Pauline Yang, partner, Altimeter Capital. "The market for automation products will only continue to expand, and we believe that Workato has the best technology, partnerships and leadership team in place to capitalize on this exciting opportunity."
Workato’s customers are supported by a thriving and growing community of 100,000 users who create and share automation "recipes" for common business processes that can then be reused by other customers. As more customers join the platform, they create more recipes which increases the utility of the platform, attracting even more users in a virtuous cycle that continuously drives Workato’s growth.
"Automation exists to enable and empower end users, make organizations adaptable, and keep the lights on all the time," said Andy Nallappan, CTO and Head of Software Business Operations at Broadcom. "Back in the day, automation was a complicated effort that required a lot of technology, infrastructure, processes, and tools. But now, it’s as simple as a recipe thanks to Workato. Everyone can use it. It can become part of the team, the basis of an automation culture. Workato makes automation much more successful and frictionless."
Customers trust Workato as their automation platform of choice and three out of four customers automate business processes across three or more business functions.
About Workato
The leader in enterprise automation, Workato helps organizations work faster and smarter without compromising security and governance. Built for Business and IT users, Workato is trusted by over 11,000 of the world's top brands like Broadcom, Intuit, Box, Autodesk, and HubSpot. Headquartered in Mountain View, Calif., Workato is backed by Altimeter Capital, Battery Ventures, Insight Venture Partners, Tiger Global, and Redpoint Ventures. For more information, visit or connect with us on social media:
Business Systems Community:
View source version on
Media Contact:
Christina Roach
Mission North for Workato
Nvidia is the top graphics card maker in the world, but it's rivals are picking up steam.
What happened Shares of top semiconductor outfit Advanced Micro Devices (NASDAQ: AMD) were down 6% today as of 3:40 p.m. EST. The scrappy chip designer is still up some 33% in the last month, though.   The catalyst for the sell-off seems to be inflation, which hit growth stocks of all sorts today.
Experts are worried about this asset. But Suze still likes it.
Shares of fuboTV (NYSE: FUBO) were tumbling 19% in midday trading after the livestreaming sports TV platform reported third-quarter earnings after the market closed yesterday, despite showing strong results across the board. Revenue of $156.7 million was ahead of Wall Street estimates of $143.5 million while an adjusted loss of $0.59 per share beat analysts' forecasts of a $0.61-per-share loss (consensus estimates typically don't include one-time items that are reconciled by the adjusted figure a company reports). Considering how well fuboTV trounced Wall Street estimates, it doesn't make much sense for the livestreamer's stock to crumble as it's doing.
Nvidia CEO Jensen Huang says that the ongoing chip shortage will continue 'through the next year.'
Since the Great Recession ended more than 12 years ago, growth stocks have been the talk of Wall Street. Historically low lending rates and an accommodative Federal Reserve have paved the way for fast-paced companies to borrow cheaply in order to hire, acquire, and innovate. A report from J.P. Morgan Asset Management, a division of JPMorgan Chase, found the average annual return for companies that initiated and grew their payouts between 1972 and 2012 completely trounced the average annual return of companies that didn't pay a dividend over the same four-decade span (9.5% vs. 1.6%).
Investors react to earnings from the plant-based meat replacement maker after the company reports a sales slowdown. Yahoo Finance's Jared Blikre reports. 
Yahoo Finance's Jared Blikre details the hot tickers of the day.
Roblox (NYSE: RBLX) soared 42% on the back of a terrific earnings report Tuesday, but there's a downside to easy money — sometimes it goes as quickly as it comes. In twin reports, one that came out yesterday evening and another that appeared just this morning, first Stifel Nicolaus raised its price target on Roblox stock to $121 per share, then Goldman Sachs raised its price target to $124 a share. As Stifel commented in its note, covered on, Roblox showed "a better finish to 3Q" than analysts had expected, and tacked on "a better start to 4Q" as well.
Edward Moya, OANDA Senior Market Analyst, joins Yahoo Finance to discuss the latest rise in inflation and future outlook for Rivian as the electric vehicle company makes its public debut.
Shares of Tellurian (NASDAQ: TELL) tumbled more than 15% by 2:30 p.m. EST on Wednesday. Weighing on the liquified natural gas (LNG) stock was news that it closed a debt offering. Tellurian closed its previously announced public offering of senior notes.
Yahoo Finance’s Jared Blikre breaks down Disney’s fourth-quarter earnings results.
Investors didn't like what they saw from Toast's first quarterly report as a public company.
Monday was a great day to own marijuana stocks, which soared on news of mergers and acquisitions in the industry, as well as a potential breakthrough in marijuana legalization in Washington, D.C. — but on Wednesday, the hangover is starting to set in. Aurora Cannabis (NASDAQ: ACB) was down 3.9%. Tilray (NASDAQ: TLRY) and Sundial Growers (NASDAQ: SNDL) were both off about 2.8%.
Back in the early 2000s, as Amazon scaled its marketplace, it began providing cloud infrastructure services to third-party sellers. At first, this platform was meant to facilitate Amazon's ambitions in e-commerce, but it eventually became something much bigger. Today, Amazon Web Services (AWS) is the No. 1 cloud computing platform in the world and the chief driver of Amazon's operating profits.
Nvidia Founder and CEO Jensen Huang joins Yahoo Finance’s Julie Hyman and Tech Editor Dan Howley to discuss the chip shortage, the future of AI, and the omniverse — Nvidia's metaverse.
It's fair to say that investors approached UPS (NYSE: UPS) third-quarter earnings with a sense of trepidation. After all, its main rival FedEx (NYSE: FDX) gave a horrible earnings report in September, taking a $450 million hit due to constrained labor markets caused by the lingering impact of the COVID-19 pandemic.
Despite posting solid Q3 results, PayPal Holdings, Inc. (NASDAQ: PYPL) took a double-digit dive in the most recent trading session. It seems that the cautious guidance spooked the market, while other positive catalyst news failed to reverse the downward trend that has been going on for months. As the stock dropped over 30% from the summer highs, in this article, we'll take a look into the valuation according to our model.
One option is to research great companies that happen to be trading at expensive valuations now and wait for a market crash to buy in on them. If a market crash does occur, any investor should pounce on shares of Square (NYSE: SQ) and Upstart (NASDAQ: UPST). Square stock has been an amazing performer over the past five years, gaining almost 2,000% in share price value.
Disney (DIS) posted quarterly results that missed Wall Street's expectations as the media giant saw a more marked-than-expected slowdown in Disney+ streaming subscribers, with consumer mobility picking up and virus-related disruptions weighing on show production.


Leave a Reply