Workato Revenue, 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

Workato revenue

$30M

Series E · Nov 2021

Key investors in Workato

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

Workato Overview

About Workato

Workato is a cloud-based integration platform as a service connecting SaaS apps, on-premises systems, databases, and AI models. Mountain View-headquartered and founded in 2013, it offers low-code recipes for workflows like sales lead syncing, HR onboarding, IT automation, and marketing orchestration. Features include event triggers, real-time sync, API management, audits, and compliance governance.


Founded

2013

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$30M (Nov 2021)

Valuation

$5.7B (Nov 2021)

Workato Valuation

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

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

Revenue multiple
Workato valuation by funding round
DateStageValuationRevenue Multiple
Nov 2021Series E$5.7B190.0x
Jan 2021Series D$1.7B56.7x

Workato Revenue

Workato's latest recorded revenue is $30M, as of its Series E in November 2021.

Revenue moved from $30M in January 2021 to $30M in November 2021.

Workato revenue by funding round

Workato revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Nov 2021$30M$5.7B190.0xSeries E
Jan 2021$30M$1.7B56.7xSeries D

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

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 is an enterprise automation platform offering no-code/low-code integration and automation tools, positioned as an iPaaS solution for connecting apps, data, and processes across IT and business teams. It serves major customers like AT&T, Atlassian, Box, GitLab, Nokia, and Toast, with a subscription-based model including fixed platform fees and usage-based pricing on tasks or high-volume recipes. In late 2021, Workato closed its Series E funding round of $200 million led by Battery Ventures, with participation from Altimeter Capital, Insight Partners, Redpoint, Tiger Global, and others, achieving a post-money valuation of $5.7 billion. This brought total funding to approximately $421 million across nine rounds. The round coincided with the acquisition of RailsData, enhancing its capabilities. At the time of the Series E in November 2021, Workato reported approximately $30 million in ARR, trading at a 190x revenue multiple against the $5.7 billion valuation. The company had grown to serve about 11,000 businesses, up significantly from prior years, with strong metrics like tripling automations per customer and doubling connected systems year-over-year in earlier periods. Workato's growth continued post-round, with revenue reportedly reaching $150 million ARR by 2023 (36% YoY from $110 million in 2022) and overall revenue growing 279% from fiscal 2021 to 2024 per Deloitte rankings. By FY26 ending January 2026, it achieved 35% YoY ARR growth and 50% net new ARR growth, driven by AI-native platform demand.
Jan 2021Series DAltimeter Capital (lead); Insight Partners (lead); Redpoint; Battery Ventures; Storm Ventures$110M$1.7BWorkato is an enterprise automation platform enabling organizations to build and run automated workflows, integrating applications to speed up repetitive processes. It serves businesses across technology, financial services, retail, logistics, transportation, and healthcare, with customers including Atlassian, AT&T, Adobe, Autodesk, Box, Stitch Fix, GitLab, NYU, Nokia, Lucid Motors, Broadcom, and Toast. By November 2021, Workato had approximately 11,000 customers, up from 7,000 in January 2021, with user growth to 100,000 from 70,000 and annual recurring revenues more than doubled year-over-year. In late 2021, specifically around November/December, Workato closed a $200 million Series E funding round at a $5.7 billion post-money valuation, bringing total funding to $421 million across nine rounds. Investors in this round included Altimeter Capital, Insight Partners, Battery Ventures, and others like Tiger Global and Redpoint Ventures. The funding was intended to invest in platform development and acquisitions, with plans toward an eventual IPO. This followed a January 2021 $110 million raise at $1.7 billion valuation. For 2021, Workato generated $30 million in ARR against the $5.7 billion valuation, implying a 190x revenue multiple. The company demonstrated strong traction, with ARR growth continuing post-round.
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 is an enterprise automation and integration platform designed for both business users and IT teams. The company raised $25 million in Series B funding in December 2018 led by Battery Ventures, with participation from Storm Ventures, ServiceNow, and Workday Ventures. This round brought total funding raised to approximately $40 million at the time. The platform competes with solutions like MuleSoft and SnapLogic, offering low-code/no-code automation capabilities. Workato's key differentiator was targeting business users rather than requiring IT administrators to build integrations, addressing the growing need to manage expanding SaaS application ecosystems within enterprises. The company demonstrated strong momentum by the Series E in November 2021, at which point it had more than doubled ARR, nearly doubled its customer base with notable additions including Freenow, Adevinta, Nokia, Stitch Fix, and GitLab, and tripled business processes automated by customers.
Jul 2017Series AStorm Ventures (lead); Salesforce Ventures; Workday Ventures; Anshu Sharma$10M-Workato is an AI-powered automation and integration platform that simplifies workflow integrations between SaaS applications and APIs. In July 2017, it raised $10 million in a Series A round led by Storm Ventures, with participation from Salesforce Ventures and Workday Ventures. This brought total funding to $16 million at that time. The funding aimed to accelerate product innovation and expand market presence. Workato's platform enabled rapid deployment, with 78% of customers going live in the first week, supported by prepackaged recipes for integrations like Salesforce, Workday, Zendesk, and Slack. It was used by over 21,000 organizations including Box, IBM, and Cisco. Following this round, Workato demonstrated strong growth, expanding over 300% in 2017 and serving more than 3,500 customers across 57 countries by late 2018.

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 StatesSan Francisco, 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 StatesSan Francisco, 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, HopeRun and Wuchan Zhongda Group Co, and private ones like RELEX Solutions and Meicai.

Public and private companies comparable to Workato
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RELEX SolutionsFinlandHelsinkiPrivate--$5.8B-
Ingram MicroUnited StatesUnited StatesPublicly listed$53B$1.1B$6.3B0.2x
Descartes Systems GroupCanadaCanadaPublicly listed$729M$305M$6.8B8.1x
MeicaiChinaBeijingPrivate--$7B-
HopeRunChinaChinaPublicly listed$594M$42M$4.1B6.4x
Wuchan Zhongda Group CoChinaChinaPublicly listed$89B$1.5B$3.8B0.1x

Workato Public Comps

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

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ingram Micro$53B$1.1B0.2x0.2x8.7x6.6x
Descartes Systems Group$729M$305M8.8x8.1x21.1x17.7x
HopeRun$594M$42M7.1x6.4x100.0x-
Wuchan Zhongda Group Co$89B$1.5B0.1x0.1x8.5x7.3x
Kinaxis$548M$102M5.9x5.3x31.7x20.3x
SPS Commerce$752M$182M3.6x3.5x15.0x10.6x
Xiamen Xiangyu Co$61B$523M0.1x0.1x13.8x10.4x
GigaCloud Technology$1.3B$158M1.6x1.4x12.8x10.6x

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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 San Francisco, CA, 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.
What is Workato's revenue?Workato's latest recorded revenue is $30M (November 2021).
Which companies are comparable to Workato?Companies comparable to Workato include RELEX Solutions, Ingram Micro, Descartes Systems Group, Meicai, HopeRun and Wuchan Zhongda Group Co.
How many companies has Workato acquired?Workato has acquired 3 companies, including xMAD.ai, DeepConverse and RailsData.

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