WalkMe pulls in $50m Series F, with plans to establish Singapore as growth hub

WalkMe, a provider of digital adoption solutions, has raised $50m in its Series F round to support growth in Asia Pacific and Europe.

The funding round was led by Insight Venture Partners and Mangrove Capital Partners. Singapore-based strategic investor EDBI also contributed, supplying $10m to the round, with the aim of helping the company expand and localise its digitalisation software in the Asia Pacific Market via Singapore.

Following the latest series funding, WalkMe has raised a total of $217.5m in equity, to date.

Founded in 2011, offers a digital adoption platform to help enterprises with their digitalisation and implement technology such as AI and data analytics. Its services are used by financial institutions and banks, the public sector, healthcare institutions, retail and e-commerce companies and telecommunication providers.

Financial institutions use the platform to help keep up with changes in the lending, payments, banking and wealth management space. Its technology can help to improve online banking experiences, lower costs, boost employee productivity and anticipate consumer needs.

WalkMe also delivers employee and customer onboarding services, helping organisations to streamline processes and ensure compliance.

Through the support of EDBI, WalkMe is going to use Singapore as the strategic hub to with a number of multi-national companies and boost its operations in the region. The company is hoping to further its growth across both Europe and Asia Pacific.

EDBI CEO and president Chu Swee Yeok said, “WalkMe provides an impressive AI and data analytics-powered engagement platform to help enterprises better adopt digital solutions and improve employee efficiency.

“We are excited to have this opportunity to support WalkMe as they extend their digital capabilities to enterprises in Asia. We believe that WalkMe will be an important enabler to enterprises’ digital transformation journeys to scale businesses and drive productivity.”

Copyright © 2018 FinTech Global

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