The company's initial public offering (IPO) took place on June 16, 2021, and resulted in a valuation of US$2.56 billion.[7] WalkMe was acquired by SAP for $1.5billion 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.[3][8] In 2017, WalkMe acquired mobile A/B testing and app engagement platform Abbi,[9] and analytics startup Jaco.[10] User interface artificial intelligence company DeepUI.ai was acquired in June 2018,[11] and information enablement tool Zest was acquired in 2021.[12]
In June 2024, SAP announced that it has entered into an agreement to acquire WalkMe for $1.5 billion.[13][14] The waiting period for the acquisition expired in July 2024 under the Hart–Scott–Rodino Antitrust Improvements Act, with the acquisition expected to be completed by the year-end pending satisfaction of other conditions of the agreement.[15] The acquisition was completed in September 2024.[16]
Corporate affairs
In April 2020, WalkMe and Microsoft announced a partnership in which WalkMe's DAP is embedded in Microsoft Dynamics 365 for customers and partners.[17]
In May 2020, Andrew Casey was appointed as the company's first Chief Financial Officer (CFO).[18]
In October 2020, WalkMe launched its Digital Adoption Institute to the public for providing a scholarship and upskilling courses in digital adoption.[19]
Funding
WalkMe has raised US$307.5 million in nine rounds of funding. The company was valued at US$2 billion after its Series G round in December 2019.[20]
In April 2012, WalkMe raised US$1 million in its Series A round, led by Mangrove Capital Partners.[21]
In October 2012, it raised its Series B funding of US$5.5 million, led by Gemini Israel Ventures.[22]
In April 2014, WalkMe raised US$11 million in its Series C funding round led by Scale Venture Partners.[23]
In May 2016 and July 2017, WalkMe raised a total of US$125 million in its Series E round led by Insight Partners.[25][26]
In September and November 2018, WalkMe raised Series F funding of US$50 million from Insight Partners and EDBI.[25]
In December 2019, WalkMe raised US$90 million in its Series G round of funding led by Vitruvian Partners.[20]
In June 2024 it was announced at SAP 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.[27]
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$245 million (2022) [1]