Funding round
Workato Series A
Workato, which works in enterprise integration platform solutions in Palo Alto, raised $10M in a Series A round announced on 18 Jul 2017, led by Storm Ventures. 3 firms took part, with 7 individual investors. It is Workato's first venture round on record.
$10M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Workato did not disclose a valuation in this round. It is Workato's first venture round on record, 4 years after it was founded in 2013. It is 2.4% of the $415M Workato has raised in the venture rounds on record. Workato raised again 17 months later: a Series B round of $25M in Dec 2018. Its next priced round, a Series D in Sep 2021, valued it at $1.70B.
Workato's funding rounds
Workato has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Storm Ventures led the round with 2 other firms.
Lead investor
- backs 68 venture-backed companies new investor
Also in the round
- Salesforce Ventures backs 314 venture-backed companies new investor
- Workday Ventures new investor
Individual investors: kevin ding, andy rankin, anthony soohoo, don hutchison, marc mccabe, michel meyer and vishal makhijani.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
657 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $7.1M, and this round was 1.4 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 27 Jul 2017 | $35M | not disclosed | Accel and PTB Ventures |
| Gong Tech Companies | 12 Jul 2017 | $20M | not disclosed | Norwest and Shlomo Kramer |
| Tech Companies | 17 Jul 2017 | $15M | not disclosed | Legend Capital |
| Tech Companies | 11 Jul 2017 | $15M | not disclosed | Mercato |
| Tech Companies | 1 Jul 2017 | $15M | not disclosed | not named |
| Tech Companies | 21 Jul 2017 | $12M | not disclosed | Andreessen Horowitz |
| Tech Companies | 12 Jul 2017 | $11M | not disclosed | New Enterprise Associates |
| Tech Companies | 11 Jul 2017 | $11M | not disclosed | Benchmark Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Workato raise in its Series A round?
Workato raised $10M in its Series A round, announced in Jul 2017.
Who led Workato's Series A round?
Storm Ventures led it, with Salesforce Ventures and Workday Ventures.
What was Workato's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
657 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $7.1M, and this round was 1.4 times the median.
Did Workato raise again after this round?
Yes: a Series B round in Dec 2018 of $25M.