ETF News

U.S.-Israeli WalkMe raises $50 mln in funding

TEL AVIV, June 2 (Reuters) - WalkMe, whose platform guides users through online processes, raised $50 million in a funding round led by New York-based venture capital firm Insight Venture Partners with participation from existing investors Greenspring Associates and Scale Venture Partners.

This brings the total amount raised by the company to $92.5 million, WalkMe said on Thursday.

Established in Israel in 2011, WalkMe is headquartered in San Francisco and has 270 employees, including 160 in Israel.

In the past year it opened two new offices in the United States and expanded teams in San Francisco, Melbourne, Australia, and Tel Aviv by 120 percent.

WalkMe is used by customers such as Kimberly Clark, Stanley Black & Decker and SAP to drive users to action as they interact with software of websites. This can increase sales, reduce support costs and improve employee productivity, the company said. (Reporting by Tova Cohen)