An Israeli startup called WalkMe that helps walk users through confusing software interfaces raised $40m yesterday at a $1B+ valuation.
You might expect software companies to design products intuitive enough to use without recruiting an independent service to help them. But, alas, WalkMe isn’t even the only one of its kind.
In fact, numerous WalkMe competitors have recently raised money or been acquired. Now, WalkMe needs financial firepower to maintain its lead.
It’s not cool to be complicated
Founded in 2011, WalkMe started as a way to prevent website visitors from bouncing away from confusing sites. But soon, the company realized that bad UI makes users want to put their fists through their monitors.
Not the kind of “user engagement” you’re looking for…
So, the company rolled out services to help companies simplify and explain their interfaces, often shortening processes from 10 clicks to 3. Now, WalkMe has more than 2k global customers across B2C and B2B, including 30% of the Fortune 500.
It’s hard to make things easy
WalkMe’s competitors are growing rapidly: Just yesterday, software stalwart Oracle acquired Iridize for an undisclosed amount and, in the past 2 years, AppCues and WhatFix have raised $10m and $3.6m, respectively.
Luckily for WalkMe, they have dollars on their side. WalkMe has now raised a total of $207.5m to start scrolling away from the pack.