Funding round
Workato Series E
Workato, which works in enterprise integration platform solutions in Palo Alto, raised $200M in a Series E round announced on 10 Nov 2021, led by Battery Ventures, at a $5.70B post-money valuation. 6 firms took part, 6 of them already investors. It is Workato's fifth venture round on record; the one before was a Series D in Sep 2021.
$200M
Amount raised
$5.70B
Post-money valuation
6
Investors
1 lead
3.4x
Step-up from the Series D
$1.70B in Sep 2021
3.5%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Workato at $5.70B after the new money, 3.4 times the $1.70B of its Series D (Sep 2021). The $200M bought investors about 3.5% of the company. It came 2 months after Workato's Series D. It is 48% of the $415M Workato has raised in the venture rounds on record. No later venture round is on record for Workato.
Workato's funding rounds
Workato has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Battery Ventures led the round with 5 other firms. Battery Ventures, Insight Partners, Altimeter and Tiger Global and 2 more had backed Workato before.
Lead investor
- Battery Ventures backs 215 venture-backed companies existing investor
Also in the round
- Insight Partners backs 548 venture-backed companies existing investor
- Altimeter backs 67 venture-backed companies existing investor
- Tiger Global existing investor
- Geodesic Capital backs 45 venture-backed companies existing investor
- Redpoint Ventures backs 194 venture-backed companies existing investor
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 acquisitions.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
Comparable rounds
How it compares
111 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $150M, and this round was 1.3 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Socure Tech Companies | 9 Nov 2021 | $450M | $4.50B | Accel and T. Rowe Price |
| HoneyBook Tech Companies | 3 Nov 2021 | $250M | $2.40B | Tiger Global |
| Verbit Tech Companies | 23 Nov 2021 | $250M | $2.00B | Third Point Ventures |
| Tech Companies | 9 Nov 2021 | $150M | $1.00B | Liberty Strategic Capital |
| Tech Companies | 9 Nov 2021 | $150M | $1.00B | Insight Partners and Georgian |
| Tech Companies | 18 Nov 2021 | $140M | $1.00B | CapitalG and Paladin Capital Group |
| Tech Companies | 4 Nov 2021 | $120M | $1.70B | Brighton Park Capital |
| Tech Companies | 7 Nov 2021 | $100M | $1.70B | Commonwealth Bank of Australia |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Workato raise in its Series E round?
Workato raised $200M in its Series E round, announced in Nov 2021.
Who led Workato's Series E round?
Battery Ventures led it, with Insight Partners, Altimeter, Tiger Global, Geodesic Capital and Redpoint Ventures.
What was Workato's valuation at the Series E round?
$5.70B post-money.
How does it compare with other Series E rounds in Tech Companies?
111 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $150M, and this round was 1.3 times the median.