Workato Nabs $70M Series C Funding, Updates Automated Integration Platform
Mountain View, California-based Workato has announced that it raised a new round of Series C funding worth $70 million. Led by a group of new and existing investors, the funding round brings Workato’s total venture capital earned to $105 million since its founding in 2013. The funding will help Workato accelerate its product roadmap and expand its Application Partner Community with SaaS companies like Zendesk, Snowflake, OutSystems, Marketo, ServiceNow and Salesforce.
Workato offers a self-service application integration solution for unifying applications on-prem and in the cloud. The product allows organizations to create recipes, which are automated workflows that connect apps to complete tasks composed by users based on a combination of apps, triggers, and actions. Workato currently connects to more than 300 enterprise apps, with new apps being added frequently.
Workato customers are overwhelmingly represented in the manufacturing industry, with nearly three-quarters located in North America. The integration provider touts a total of more than 6,000 enterprise customers, including some notable names like Nutanix, Slack, and Autodesk. The company’s founders have a history of leadership within the data integration and cloud industries with companies like TIBCO Software, Oracle Fusion Middleware, Salesforce, and Skype.
In conjunction with the funding news, Workato is also adding a slew of new features to its popular Integration Platform as a Service product. The release is highlighted by a suite of workspace management capabilities that provide a single view to monitor and manage activity usage, and enhanced tooling with manifests and packages to manage automations. An enhanced security and governance package includes third-party security and monitoring, new data segregation with a unique encryption key, and continuous key rotation.
Workato is bringing embedded options to the platform as well, including Blackbox for solving immediate integration needs, White-label for better branding, and Embed for an upgraded in-product experience. New Automation Community features are rounded out by Recipe Collections, a framework that enables users to jumpstart the process of building automations like lead management, order to cash, employee onboarding, and ticket resolution. An upgraded Connector Marketplace allows developers and partners to create and publish connectors to their apps.
In a statement to Solutions Review, the company’s co-founder and Head of Product Gautham Viswanathan told us: “To unlock digital transformation, enterprises need a single platform that can address all the automation and integration use cases and can be used by both IT and business. Our latest release of the enterprise automation platform, combined with the additional funding, enables enterprises to achieve automations at scale across all lines of business with security and governance.”
Workato was recently awarded one of the top scores for integration and deployment in Gartner’s 2019 Voice of the Customer for Enterprise Integration Platform as a Service.