WalkMe Strengths, Domain Expertise, and Key Differentiators
Since being founded in 2011, WalkMe has experienced impressive traction in the enterprise community. As growth accelerates, WalkMe continues to increase its capability to understand user behavior across devices.
WalkMe transforms the user experience by using machine learning and deep analytics to understand individual habits and behaviors when using any software or website. With these insights, WalkMe’s DAP can contextually guide, engage, and anticipate a user’s needs.
This drives technology adoption, reduces helpdesk tickets, streamlines workflows, and boosts productivity. WalkMe customers report 15%-121% faster training time, a double-digit increase in employee engagement and satisfaction, and a 30%-70% reduction in employee requests for support.
WalkMe holds 10 distinct technology patents with another six pending, and has achieved more than 40 industry awards, including two recent accolades: Infoworld Technology of the Year 2022 and Business Intelligence Group's Artificial Intelligence Excellence Award 2022.
WalkMe Recent Developments
WalkMe continue to transformed its executive leadership team in 2022. In January, Chelsea Pyrzenski joined as Chief People Officer to lead WalkMe's efforts in attracting, developing, and retaining top talent as well as oversee Diversity, Equity and Inclusion (DEI), and Environmental, Social and Governance (ESG) programs. In July, WalkMe joined Scott Little as Chief Revenue Officer to lead WalkMe's overall go-to-market optimization and expansion efforts to capitalize on digital adoption's $34B total addressable market as demand for WalkMe's enterprise-class digital adoption platform (DAP) grows. That same month, WalkMe expanded its executive leadership team to appoint Adriel Sanchez as Chief Marketing Officer. Sanchez was brought in to lead the global marketing organization to promote the WalkMe brand, including the development and execution of the company's strategic priorities and campaigns, while partnering closely with the sales and product organizations to drive revenue.
In September 2021, WalkMe expanded its executive leadership team with the appointment of Wayne McCulloch as Chief Customer Officer. Author of the best-selling book, The Seven Pillars of Customer Success, and with over 25 years of experience in customer success roles, McCulloch will drive the adoption of WalkMe to transform the way enterprise CIOs gain visibility and insights into digital assets and business processes.
In 2018, WalkMe launched new WalkMe Automation, which delivers an improved employee experience with a single click, removing the need for employees to learn new habits or break old ones. The solution eliminates routine steps when using any business application, auto-populates fields across systems, and eradicates the need for prior application knowledge. The same year, the company launched WalkMe ActionBot, an intuitive chatbot designed to understand the user's needs and automate complex tasks spanning across various enterprise applications.
WalkMe ActionBot enables users to perform any task without prior knowledge or competency on any web, mobile, or desktop application, delivering unprecedented efficiencies and user adoption. Additionally, WalkMe launched WalkMe Growth Edition, an AI-powered solution specifically geared towards customer-centric growth companies. Using WalkMe Growth Edition, SaaS and web-based companies can analyze, predict, and take action on user behavior, resulting in greater customer retention and business growth.
In 2019, the Digital Adoption Center (DAC), which unlocks crucial business intelligence for CIOs and business leaders looking to make data-driven business decisions, maximize ROI across various business processes and improve the bottom line."
WalkMe Mergers and Acquisitions (M&A) Activities
In April 2021, WalkMe completed the acquisition of Zest. Zest, known as "The Information Enablement Tool", provides a fast and efficient mechanism for retrieving any document, file, contact, or record from the cloud. Zest's AI-driven search leverages NLP (Natural Language Processing) to create an on-demand, graph database. This increases the predictability of user search for faster, more relevant results.
In June 2018, WalkMe acquired DeepUI, a company that has developed a patented machine learning technology to understand any business software at the graphical user interface (GUI) level, without the need for an application programming interface (API). DeepUI accelerates the adoption of any digital process by leveraging aggregated data and insights. WalkMe also acquired Abbi.io and Jaco Analytics.
WalkMe Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying WalkMe applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of WalkMe and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified WalkMe, customers.
Ownership: - NASDAQ: WKME
Number of Employees: 1125
Key Verticals: Automotive, Banking and Financial Services, Communication, Real Estate, Consumer Packaged Goods, K37, Higher Education, Federal Government, State and Local Government, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
WalkMe Key Enterprise and Cloud Applications
WalkMe Revenues, $M:
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|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
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* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
WalkMe Revenue Breakdown By Type, $M:
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WalkMe Enterprise Applications Revenues By Functional Markets, $M:
WalkMe Enterprise Applications Revenues By Verticals, $M:
WalkMe Revenues By Region, $M
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WalkMe Direct vs Indirect sales
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WalkMe Customers - Breakdown by Geo, Size, Vertical and Product
No. of WalkMe Customers: 2000
No. of WalkMe Enterprise Applications Customers: 2000
No. of WalkMe Cloud Customers: x
No. of WalkMe Cloud Subscribers: x
With users in more than 160 countries, WalkMe is trusted by ~2,000 customers, including 80% of the Fortune 10. Among WalkMe customers are Thermo Fisher Scientific, Ulta Beauty, Roche, BMO, Adobe, BT, Nestle, Red Hat, LinkedIn, Okta, Hershey, United Rentals, and many more.
WalkMe Market Opportunities, M&A and Geo Expansions
2022 marks the 10 year anniversary of when WalkMe introduced the industry’s first digital adoption platform (DAP) to the market. What got its start as a “nice to have” evolved to a “need to have,” thanks to the continued investment in digital transformation projects and the ROI derived from increased digital adoption. There has been a significant uptick in DAP category coverage within the analyst community.
In July 2021, released the updates of the WalkMe Digital Adoption Platform (DAP). Unveiled in conjunction with DAP Professionals Day, the latest version includes new enterprise-grade capabilities such as integration with Microsoft Teams and enhanced auditing & monitoring, as well as community-generated templates, and report builders. The updates provide organizations with further opportunities to accelerate digital transformation and recognize quicker time to value of their technology investments through driving user adoption of digital assets.
In December 2019 WalkMe closed a $90M round of funding led by Vitruvian Partners with participation from previous investor Insight Partners. With this latest funding round, WalkMe will continue to scale and help leading enterprises realize the full potential of their software assets and empower digital transformation across their organization.
With over $307 million in funding raised to-date, almost doubling its valuation in the last year and more than 2,000 customers across the globe, WalkMe has experienced exponential growth since its launch in 2011. In Q2 of 2019, WalkMe crossed $100 Million in ARR, and in Q3 of 2019 WalkMe's new business bookings grew 100% compared to Q3 of 2018. WalkMe will use the investment to drive expansion into new markets, including Latin America, and will continue to invest in and rapidly scale its Digital Adoption Platform (DAP) to meet growing customer demand. WalkMe's DAP makes it effortless to use any software, website, or app – analyzing and automating processes so users can complete tasks faster and easier.
In 2019, WalkMe partnered with Japan Cloud, a Tokyo-based professional services firm that supports leading global businesses to establish themselves successfully in the Japanese market, to form WalkMe K.K. With the support from Japan Cloud, WalkMe K.K.will offer WalkMe's pioneering adoption solutions for the most popular enterprise systems, customized for the Japanese market.
In November 2018, Singapore-based EDBI was the primer investor in WalkMe's strategic plan to expand its presence in APAC. EDBI joined the $40 million Series F financing round led by Insight Venture Partners and WalkMe's first institutional investor, Mangrove Capital Partners, bringing the total Series F raised to $50 million. WalkMe has raised a total of $217.5 million."
WalkMe Risks and Challenges
WalkMe needs to strike the delicate balance of developing highly-differentiated onboarding apps while optimizing the economy of scale by extending itself into a range of core HR, CRM, and collaboration tools.
WalkMe Ecosystem, Partners, Resellers and SI
In May 2022, WalkMe made a strategic partnership with Celonis, the global leader in execution management, that enables joint customers to maximize the impact and return on digital transformation investments. The joint offering applies Celonis Process Mining to understand how business is being executed across systems, identify process inefficiencies, quantify their impact, and prioritize them accordingly. By working with our Digital Adoption Platform, we trigger the necessary action to drive the desired experience and business outcome.
In August 2022, WalkMe announced a strategic alliance with Deloitte Canada to bring digital adoption best practices to more Canadian enterprises. In November 2021, Deloitte and Walkme announced a joint partnership for GTM activity with a planned expansion around internal Application rollouts for 2022, Expansion into European/APJ Markets and new Routes to Market in tandem with their ChangeScout product.
In November 2021, WalkMe also unveiled its partnership with SAP Concur, the world's leading brand for integrated travel, expense, and invoice management solutions. WalkMe joined the SAP Concur partner program providing a solution extension, Concur User Assistant by WalkMe. The solution extension leverages WalkMe technology to provide relevant self-service guidance and content within the SAP Concur environment, driving digital adoption, efficient employee onboarding, and optimal employee experiences.
WalkMe also has a strategic partnership with Accenture. WalkMe expanded its relationship with Accenture in the last quarter of 2021, with Accenture investing in expanding their capability to deploy WalkMe technology on a global scale alongside investing in their employee base with plans to increase the number of certified resources over the next year with the intention of building a globally defined center of excellence.
WalkMe expanded its strategic alliance with HCL to create more go-to-market opportunities in its Digital Workplace Services Business Group. HCL has invested in WalkMe Digital Adoption skills to deliver strategic Managed Services Offering to support their customers.
WalkMe also has a strategic partnership to help organizations realize the full value of their Microsoft investments by enhancing the integration and optimization of the companies' products and platforms. Through this partnership, the companies will enable enterprise organizations to easily deploy WalkMe's Digital Adoption Platform on top of Microsoft Dynamics 365 without an extension, giving their employees the power to utilize the technology efficiently and productively.
In October 2019, WalkMe joined Deutsche Telekom’s cloud partner network. Through the partnership, Deutsche Telekom and WalkMe offer a joint service for organizations undergoing the digital transformation process.
WalkMe Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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