WalkMe Ltd. is an American multinational

software-as-a-service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike oth ...

(SaaS) company, with headquarters in

San Francisco, California San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

. Its digital adoption platform (DAP) was recognized in Everest Group's PEAK Matrix Assessment of DAP vendors as the leading DAP product. Alongside its headquarters in San Francisco, the company has offices in

Raleigh, North Carolina Raleigh ( ) is the List of capitals in the United States, capital city of the U.S. state of North Carolina. It is the List of municipalities in North Carolina, second-most populous city in the state (after Charlotte, North Carolina, Charlotte) ...

;

Tel Aviv Tel Aviv-Yafo ( or , ; ), sometimes rendered as Tel Aviv-Jaffa, and usually referred to as just Tel Aviv, is the most populous city in the Gush Dan metropolitan area of Israel. Located on the Israeli Mediterranean coastline and with a popula ...

, Israel, and a global footprint including the United Kingdom, Australia, and Japan. The company's

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) took place on June 16, 2021, and resulted in a valuation of 2.56 billion. WalkMe was acquired by

SAP Sap is a fluid transported in the xylem cells (vessel elements or tracheids) or phloem sieve tube elements of a plant. These cells transport water and nutrients throughout the plant. Sap is distinct from latex, resin, or cell sap; it is a s ...

for $1.5 billion in 2024.

History

WalkMe Inc. was founded in 2011 by Dan Adika, Rafael Sweary, Eyal Cohen and Yuval Shalom Ozanna. In April 2012, they launched the product WalkMe. In 2017, WalkMe acquired mobile

A/B testing A/B testing (also known as bucket testing, split-run testing or split testing) is a user-experience research method. A/B tests consist of a randomized experiment that usually involves two variants (A and B), although the concept can be also exte ...

and app engagement platform Abbi, and analytics startup Jaco. User interface

artificial intelligence Artificial intelligence (AI) is the capability of computer, computational systems to perform tasks typically associated with human intelligence, such as learning, reasoning, problem-solving, perception, and decision-making. It is a field of re ...

company DeepUI.ai was acquired in June 2018, and information enablement tool Zest was acquired in 2021. In June 2024,

announced that it has entered into an agreement to acquire WalkMe for $1.5 billion. The waiting period for the acquisition expired in July 2024 under the

Hart–Scott–Rodino Antitrust Improvements Act The Hart–Scott–Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into ...

, with the acquisition expected to be completed by the year-end pending satisfaction of other conditions of the agreement. The acquisition was completed in September 2024.

Corporate affairs

In April 2020, WalkMe and

Microsoft Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The ear ...

announced a partnership in which WalkMe's DAP is embedded in

Microsoft Dynamics 365 Microsoft Dynamics 365 is a set of enterprise accounting and sales software products offered by Microsoft. Its flagship product, Dynamics GP, was founded in 1981. Applications Microsoft Dynamics is largely made up of products developed by co ...

for customers and partners. In May 2020, Andrew Casey was appointed as the company's first Chief Financial Officer (CFO). In October 2020, WalkMe launched its Digital Adoption Institute to the public for providing a scholarship and upskilling courses in digital adoption.

Funding

WalkMe has raised 307.5 million in nine rounds of funding. The company was valued at 2 billion after its Series G round in December 2019. *In April 2012, WalkMe raised 1 million in its Series A round, led by Mangrove Capital Partners. *In October 2012, it raised its Series B funding of 5.5 million, led by Gemini Israel Ventures. * In April 2014, WalkMe raised 11 million in its Series C funding round led by

Scale Venture Partners Scale Venture Partners is an early-stage venture capital firm that invests in Series A and Series B rounds. Scale has invested in over 380 Cloud, SaaS, and infrastructure companies over the past 20 years. Of these investments, 159 have resulted ...

. *In June 2015, WalkMe raised Series D of 25 million, led by

Greenspring Associates Greenspring Associates was a venture capital firm that invested primarily in the information technology, biotechnology, healthcare and telecommunications sectors. The firm was based in Owings Mills, Maryland and maintained offices in Palo Alto, C ...

. * In May 2016 and July 2017, WalkMe raised a total of 125 million in its Series E round led by

Insight Partners Insight Venture Management, LLC (commonly referred to as Insight Partners and previously Insight Venture Partners) is a global venture capital and private equity firm that invests in high-growth technology, software, and internet businesses. The ...

. * In September and November 2018, WalkMe raised Series F funding of 50 million from Insight Partners and EDBI. * In December 2019, WalkMe raised 90 million in its Series G round of funding led by

Vitruvian Partners Vitruvian Partners is a global private equity firm, focusing on growth buyout and growth capital investments in middle-market companies. Vitruvian invests throughout Europe, the U.S. and Asia. The firm has offices in London, Munich, Stockholm, ...

. * In June 2024 it was announced at

Sapphire that a definitive agreement was entered into under which SAP will acquire WalkMe for US $14.00 per share in an all-cash transaction, representing an equity value of approximately US $1.5 billion. The offer price represents a 45% premium to WalkMe’s closing share price on June 4, 2024.

References

{{Reflist Software companies of the United States Companies based in San Francisco Software companies based in the San Francisco Bay Area 2021 initial public offerings Companies formerly listed on the Nasdaq Software companies established in 2012 Development software companies 2024 mergers and acquisitions SAP SE acquisitions