Workato Valuation, Funding & Investors

Workato is valued at $5.7B as of November 2021.

Last Workato valuation

$5.7B

Series E · Nov 2021

Last Workato funding round

$200M

Series E · Nov 2021

Cumulative funding Workato raised

$415M

across 5 funding rounds

Key investors in Workato

  • Battery Ventures
  • Storm Ventures
  • Redpoint
  • Insight Partners
  • Altimeter Capital
  • Geodesic Capital

Workato Overview

About Workato

Workato is a software company that provides a cloud platform for enterprise automation, application integration and AI orchestration. Its platform connects thousands of business applications and databases and lets IT teams and business users build workflows, called recipes, without writing custom integrations. Products cover integration, process automation, API management, data orchestration, document processing and agent tooling for enterprise AI. The company sells subscriptions to large and mid-sized organizations, with usage-based pricing on tasks, across technology, financial services, retail, logistics and healthcare. Workato was founded in 2013 by Vijay Tella, Gautham Viswanathan, Harish Shetty and Dimitris Kogias, and it is headquartered in Mountain View, California. It has grown partly through small acquisitions of AI and connector businesses.


Founded

2013

HQ

United StatesMountain View

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$5.7B (Nov 2021)

Workato Valuation

Workato is currently valued at $5.7B, based on its Series E in November 2021. Read the announcement ↗

The $200M round was led by Battery Ventures, with participation from Redpoint, Geodesic Capital, Altimeter Capital, Tiger Global, Insight Partners and 1 other investor.

Workato's valuation has grown 3.4x from $1.7B at its Series D in January 2021 to $5.7B in November 2021, across 2 priced rounds.

Workato valuation by funding round

Workato valuation by funding round
DateStageValuation
Nov 2021Series E$5.7B
Jan 2021Series D$1.7B

Workato Funding History

Workato has raised a total of $415M across 5 funding rounds.

Workato's first fundraising round was a $10M Series A in July 2017. The most recent completed round was a $200M Series E in November 2021.

Workato funding rounds

Workato funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series EBattery Ventures (lead); Redpoint; Geodesic Capital; Altimeter Capital; Tiger Global; Insight Partners; Unbound Ventures$200M$5.7BWorkato raised USD 200 million in a Series E round announced on 10 November 2021 at a post-money valuation of USD 5.7 billion. The round was led by Battery Ventures, with Altimeter Capital, Insight Partners, Redpoint, Tiger Global, Geodesic Capital and Unbound Ventures also taking part. Workato disclosed on the same day that it had acquired RailsData, a Chennai-based start-up whose API technology it had already used as a customer, as the start of a 10,000 Connector Initiative. The company said it had 7,000 customers in January 2021 and that its annual recurring revenue had more than doubled over the previous year. Workato offers an enterprise automation and integration platform for IT and business teams, with about 500,000 recipes covering areas such as HR, marketing, sales, finance and IT across applications including Salesforce, Slack, ServiceNow, Snowflake and Workday. It was founded in 2013.
Jan 2021Series DAltimeter Capital (lead); Insight Partners (lead); Redpoint; Battery Ventures; Storm Ventures$110M$1.7BWorkato, an enterprise automation platform, raised $110 million in a Series D round in January 2021 at a post-money valuation of $1.7 billion. The round was co-led by Altimeter Capital and Insight Partners, with Battery Ventures, Redpoint and Storm Ventures participating, and brought total capital raised to $221 million. Workato said the proceeds would fund global expansion and further investment in its integration-led automation platform. The company enables organizations to build and run automated workflows across applications, speeding up repetitive processes for businesses in technology, financial services, retail, logistics, transportation and healthcare. Customers named at the time included Atlassian, AT&T, Adobe, Autodesk, Box, Stitch Fix, GitLab, NYU, Nokia, Lucid Motors, Broadcom and Toast. Workato reported about 7,000 customers and 70,000 users in January 2021.
Nov 2019Series CRedpoint (lead); Battery Ventures; Storm Ventures; Geodesic Capital; Norwest$70M-Workato is an enterprise automation platform that enables businesses and IT teams to integrate applications and automate workflows without compromising security or governance. It supports no-code/low-code automation for mission-critical processes, used by over 6,000 customers including Slack, Broadcom, Intuit, Pixar, Levi's, and Autodesk. The platform addresses the shift to SaaS and hybrid environments, positioning Workato against competitors like MuleSoft, Boomi, and Zapier by being accessible to business users while suitable for enterprises. On November 11, 2019, Workato raised $70 million in its Series C funding round led by Redpoint Ventures, with participation from Norwest Venture Partners, Geodesic Capital, and existing investors Battery Ventures and Storm Ventures. This followed a $25 million Series B in December 2018, bringing total funding to $111 million. The capital was intended to accelerate product innovation, expand the customer success team, enhance builder productivity, governance, connector marketplace, and support large-scale enterprise deployments. Since the Series B, Workato reported its core business ARR and platform customer count nearly quadrupled, with automations deployed per customer tripling year-over-year, systems connected doubling year-over-year, and nearly 50% of over 70,000 builders outside IT. Data workloads doubled every four months, and over 400,000 community-built automations were available. Customers praised its ease of business, and investors highlighted its strong enterprise adoption across sales, finance, HR, and IT teams. Redpoint partner Satish Dharmaraj emphasized Workato's passionate customer base and leadership potential in the massive enterprise automation market. The funding aimed to entrench Workato as an independent public-scale business.
Dec 2018Series BBattery Ventures (lead); ServiceNow; Storm Ventures; Workday Ventures$25M-Workato raised USD 25 million in a Series B round in December 2018, led by Battery Ventures with Storm Ventures, ServiceNow and Workday Ventures participating. Total funding stood at about USD 41 million after the round. Workato offers an integration and automation platform for businesses and competes with MuleSoft, SnapLogic and Microsoft's integration tools. Chief executive Vijay Tella said the service was built for business users rather than IT administrators, who sit closer to the workflows that can be automated, and that the company uses machine learning to make building integrations and automations easier. A typical recipe connects systems such as DocuSign, Slack and an invoicing tool so that an event in one triggers actions in the others. Workato was founded in 2013.
Jul 2017Series AStorm Ventures (lead); Salesforce Ventures; Workday Ventures; Anshu Sharma$10M-Workato, an enterprise integration and automation platform, completed a USD 10 million Series A financing in July 2017 led by Storm Ventures, with Salesforce Ventures and Workday Ventures participating. The company, which was based in Cupertino, California at the time, is led by chief executive Vijay Tella. Its platform integrates and automates tasks across on-premise systems, cloud applications and databases, so that business teams can connect SaaS tools without building custom integrations. Workato was founded in 2013 and counts Salesforce and Workday among the software companies whose venture arms backed this first institutional round.

Who has invested in Workato?

13 investors have backed Workato across its funding rounds, including Battery Ventures, Storm Ventures, Redpoint, Insight Partners, Altimeter Capital and Geodesic Capital.

Lead investors include Battery Ventures, Altimeter Capital, Insight Partners, Redpoint and Storm Ventures.


Workato Investors

Investors in Workato by funding rounds participated
InvestorHQRoundsRoleFirst check
Battery VenturesUnited StatesBoston, MA4LeadDec 2018
Storm VenturesUnited StatesSan Francisco, CA4LeadJul 2017
RedpointUnited StatesSan Francisco, CA3LeadNov 2019
Geodesic CapitalUnited StatesSan Francisco, CA2ParticipantNov 2019
Altimeter CapitalUnited StatesMenlo Park, CA2LeadJan 2021
Workday VenturesUnited StatesSan Francisco, CA2ParticipantJul 2017
Insight PartnersUnited StatesNew York City, NY2LeadJan 2021
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantJul 2017
ServiceNowUnited StatesSanta Clara, CA1ParticipantDec 2018
NorwestUnited StatesMenlo Park, CA1ParticipantNov 2019
Anshu SharmaUnited StatesSan Francisco, CA1ParticipantJul 2017

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Acquisitions by Workato

Workato has acquired 3 companies to date.

Last acquisition by Workato was on August 14th 2025. Workato acquired xMAD.ai for undisclosed valuation.


Latest Acquisitions by Workato

xMAD.ai
DeepConverse
RailsData
Description
xMAD.ai is an AI research company specializing in agentic systems powered by large language models. Located in San Francisco, California, it develops frameworks for autonomous AI agents that handle complex tasks like multi-step reasoning and tool integration. The team advances techniques in reinforcement learning from human feedback and chain-of-thought prompting. xMAD.ai released its open-source agent toolkit in 2024, which supports integrations with APIs from OpenAI and Anthropic.
DeepConverse is a customer service AI platform automating support interactions for e-commerce and SaaS businesses. The system handles inquiries via chat and voice using natural language understanding, resolving 70% of cases without human intervention. Integrated with Zendesk and Shopify, it personalizes responses based on customer history. DeepConverse operates from Israel, scaling operations for brands in retail and fintech.
RailsData is a software development firm specializing in Ruby on Rails applications and big data solutions. Headquartered in Estonia, it builds custom web platforms, data pipelines, and analytics tools using technologies like PostgreSQL, Elasticsearch, and Apache Kafka. The company delivers projects for e-commerce, fintech, and logistics clients in Europe.
HQ CountryUnited StatesUnited StatesIndia
HQ City
San Francisco, CA
San Francisco, CA
Chennai
Deal Date14 Aug 202527 Mar 202510 Nov 2021
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Workato Competitors

Workato competitors include listed companies like Ingram Micro, Descartes Systems Group, Wuchan Zhongda Group Co and Kinaxis, and private ones like RELEX Solutions and Meicai.

Public and private companies comparable to Workato
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RELEX SolutionsFinlandHelsinkiPrivate$304M-$5.8B38.3x
Ingram MicroUnited StatesUnited StatesPublicly listed$53B$1.1B$6.5B0.2x
MeicaiChinaBeijingPrivate--$7B-
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$7.8B9.1x
Wuchan Zhongda Group CoChinaChinaPublicly listed$90B$1.5B$3.9B0.1x
KinaxisCanadaCanadaPublicly listed$548M$102M$3.8B5.6x

Workato Public Comps

Workato is still privately-owned, but its public comps include Ingram Micro, Wuchan Zhongda Group Co, Kinaxis, Descartes Systems Group, HopeRun, SPS Commerce, Xiamen Xiangyu Co, GigaCloud Technology, Infomart and GuoChuang Software.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ingram Micro$53B$1.1B0.2x0.2x8.9x6.5x
Wuchan Zhongda Group Co$90B$1.5B0.1x0.1x8.1x7.1x
Kinaxis$548M$102M6.4x5.6x34.4x21.5x
Descartes Systems Group$729M$305M10.1x9.1x24.1x19.9x
HopeRun$598M$42M5.9x5.3x84.2x-
SPS Commerce$752M$182M3.7x3.5x15.2x10.6x
Xiamen Xiangyu Co$62B$527M0.1x0.1x12.4x9.4x
GigaCloud Technology$1.3B$158M1.7x1.5x14.0x11.0x

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Common questions about Workato

When was Workato founded?Workato was founded in 2013.
Where is Workato headquartered?Workato is headquartered in Mountain View, United States.
Is Workato publicly listed?No, Workato is a private, VC-backed company.
What is Workato's valuation?Workato was last valued at $5.7B in its Series E in November 2021.
How much funding has Workato raised?Workato has raised $415M across 5 funding rounds.
What was Workato's last funding round?Workato's last funding round was a $200M Series E in November 2021, led by Battery Ventures.
Who are Workato's investors?Workato's investors include Battery Ventures, Storm Ventures, Redpoint, Geodesic Capital, Altimeter Capital, Workday Ventures, Insight Partners, Salesforce Ventures, ServiceNow, Norwest and 3 others.
Which companies are comparable to Workato?Companies comparable to Workato include RELEX Solutions, Ingram Micro, Meicai, Descartes Systems Group, Wuchan Zhongda Group Co and Kinaxis.
How many companies has Workato acquired?Workato has acquired 3 companies, including xMAD.ai, DeepConverse and RailsData.

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