A local venture capital firm announced today that it led a $25 million Series B round for San Fransisco-based cloud software startup WalkMe.
Owings Mill, Md.-based Greenspring Associates is a new investor in WalkMe. The startup develops cloud-based customer engagement software currently used by the likes of SurveyMonkey, Intuit, Adobe, Accenture, Phillips66, Metro Bank and Expedia. Founded in 2011, the latest round brings WalkMe’s total capital raised to about $42.5 million to date.
WalkMe receives $25 million in series D funding led by @GreenspringVC http://t.co/wPmRVHWP8e
— WalkMe (@WalkMeInc) June 12, 2015
Greenspring Associates joins existing investors Scale Venture Partners, Giza Venture Capital and Gemini Israel Ventures.
WalkMe said in a statement that the funding would be used to “further accelerate operational momentum and customer acquisition,” as company continues to develop new products and expands its staff.
Ashton Newhall of Greenspring Associates said in a statement, “"We've been paying close attention to WalkMe's evolution over the past few years and are very impressed with the company's leadership, execution, growth and innovation. We spoke with many of WalkMe's customers who told us about unprecedented reductions in on-boarding time and in incoming requests for support.”
Greenspring is also an influential D.C. tech investor, having invested in a Germantown, Md.-based Senseonics, Disruption Corporation (acquired by D.C.-based tech incubator 1776) and McLean, Va.-based Cvent, among others.
