Funding round
Workato Series C
Workato, which works in enterprise integration platform solutions in Palo Alto, raised $70M in a Series C round announced on 11 Nov 2019, led by Redpoint Ventures. 5 firms took part, 2 of them already investors. It is Workato's third venture round on record; the one before was a Series B in Dec 2018.
$70M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Workato did not disclose a valuation in this round. It came 11 months after Workato's Series B. It is 17% of the $415M Workato has raised in the venture rounds on record. Workato raised again 22 months later: a Series D round of $110M in Sep 2021, at $1.70B post-money.
Workato's funding rounds
Workato has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Redpoint Ventures led the round with 4 other firms. Battery Ventures and Storm Ventures had backed Workato before.
Lead investor
- Redpoint Ventures backs 194 venture-backed companies new investor
Also in the round
- Norwest backs 215 venture-backed companies new investor
- Geodesic Capital backs 45 venture-backed companies new investor
- Battery Ventures backs 215 venture-backed companies existing investor
- backs 68 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
265 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $36M, and this round was 2.0 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 19 Nov 2019 | $135M | not disclosed | Sutter Hill Ventures and Altimeter |
| Tech Companies | 20 Nov 2019 | $65M | not disclosed | FTV Management Company |
| Tech Companies | 7 Nov 2019 | $60M | not disclosed | not named |
| Tech Companies | 13 Nov 2019 | $55M | not disclosed | Tiger Global |
| Tech Companies | 21 Nov 2019 | $50M | not disclosed | Insight Partners |
| Tech Companies | 25 Nov 2019 | $50M | not disclosed | Insight Partners |
| Tech Companies | 14 Nov 2019 | $40M | not disclosed | Adams Street Partners and Sapphire Ventures |
| Tech Companies | 7 Nov 2019 | $35M | not disclosed | ClearSky |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Workato raise in its Series C round?
Workato raised $70M in its Series C round, announced in Nov 2019.
Who led Workato's Series C round?
Redpoint Ventures led it, with Norwest, Geodesic Capital, Battery Ventures and Storm Ventures.
What was Workato's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
265 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $36M, and this round was 2.0 times the median.
Did Workato raise again after this round?
Yes: a Series D round in Sep 2021 of $110M at $1.70B post-money.