WalkMe Ltd. (NASDAQ: WKME), a leading provider of digital adoption
solutions, today announced major proof points of its continuing
category leadership, as digital adoption platforms (DAPs) gain
rapid momentum in a $34B total addressable market (TAM).
Achievements include a bold array of AI-centric product innovations
and patents, analyst and industry recognition, superior customer
service reviews, category-defining thought leadership, and
continued financial growth. WalkMe recently announced that its
annual flagship event, Realize, will be held on June 18, 2024,
where the company will unveil more exciting product advancements to
decisively shape the future of AI in the workplace.
WalkMe named a leader in the
first-ever IDC MarketScape for DAP
In March, the IDC MarketScape Worldwide Digital Adoption
Platforms 2024 report named WalkMe the leader, highlighting its
early-mover advantage and AI capabilities powered by its
proprietary DeepUI technology. With over a decade of real-world
learning, WalkMe has accumulated billions of data points and an
unrivaled view into technology usage. Its platform drives the
proper adoption and value realization of technology investments,
making the company an essential partner in organizations’ AI
strategies. As GenAI-powered conversational interfaces enter the
enterprise, WalkMe is well-positioned to meet the growing needs of
the workplace with its extensive portfolio of AI-centric patents,
dedicated innovation, and proven capabilities.
“As a pioneer that helped define the Digital Adoption Platform
space, WalkMe was recognized for its continuous innovation in
AI-driven capabilities and for its proven expertise in accelerating
user adoption across workflows in large-scale enterprise
deployments,” said Gina Smith, Ph.D., Research Director, IT Skills
for Digital Business, IDC.
“With a TAM of $34 billion, DAP is poised for explosive growth
as companies realize that disjointed digital transformation
projects have failed to deliver ROI and, in fact, result in up to
$1.14 million in losses weekly per enterprise due to low
productivity,” said Dan Adika, Co-founder & CEO, WalkMe.
“WalkMe stands at the forefront of innovation and is changing the
equation for customers. With a robust portfolio of 23 issued
patents and 27 patent applications pending, and AI underscored by 8
issued patents and 14 pending applications, WalkMe is propelling
the development of the next generation of our digital adoption
platform.”
WalkMe at the forefront of innovation, continues to win
industry awards amid financial growth
Recently TechTarget identified the top 6 change management
applications, and WalkMe is the only digital adoption platform to
make the list. WalkMe also became a CODiE Award Finalist for Best
Digital Employee Experience for the upcoming May 2024 awards, a
2024 Emotional Footprint Champion and Gold Medal Award Winner in
Info-Tech's vendor evaluation of Digital Adoption Platforms, a
Remote Tech Breakthrough Award winner in December, and recent
recipient of numerous other acclaimed awards. Not least, WalkMe is
recognized as a Leader and Star Performer for the 4th consecutive
time in Everest Group's DAP PEAK Matrix® Assessment 2023. Most
importantly, customers are happy and expressing delight, making
WalkMe the DAP leader in both satisfaction and market presence on
G2. On Gartner Peer Insights, 95% of WalkMe customers are willing
to recommend the company and its solutions.
WalkMe’s financial growth has marked a transformative year, as
it emerged a profitable company with revamped processes and
continued operational improvements in 2023. The company is
experiencing the benefits of investments in its Federal business,
Partner ecosystem, Enterprise grade product, and DAP customer base.
WalkMe significantly improved its financial position, generating
positive free cash flow for 2023 and reaching non-GAAP operating
profit in 3Q23.
Other momentum markers include:
- FedRAMP Certification: WalkMe became the first
and only DAP vendor to attain FedRAMP certification, positioning it
to tap into growing public sector demand.
- Advanced AI Solutions: With WalkMe’s
successful launch of WalkMe Discovery and Shadow AI, built on the
company’s strong AI foundations, the company addresses emerging
enterprise needs and helps customers successfully harness new
technology while minimizing risk.
- Workflow Accelerators Launch:
WalkMe’s new Workflow Accelerators empower enterprises to swiftly
optimize critical business workflows across their technology stack.
By leveraging best practices from 7 billion annual user
interactions, these pre-built solutions eliminate friction, boost
adoption, and accelerate time-to-value, enabling customers to
realize the full potential of their digital transformation
investments.
- Thought Leadership & Category Research: As
the clear category leader, WalkMe continually invests in research
and thought leadership. Recent examples include the annual State of
Digital Adoption 2024 (SoDA) report and Everest Group’s Evolving
with AI: The Rise of Next-Generation Digital Adoption Platforms
(DAPs). Notably, the number of SoDA report downloads has already
doubled the number of total downloads of last year’s report.
- AWS Marketplace Availability: WalkMe has
expanded its reach by making its Digital Adoption Platform
available on the AWS Marketplace. This move simplifies procurement,
expedites deployment, and allows customers to leverage their
existing AWS account credits.
- Enhanced Customer Experience: WalkMe
introduced new internal technology and processes, resulting in a
95% improvement in response time and a 70% reduction in resolution
time. It also opened a new customer support center in Bangalore,
India to serve customers with optimal follow-the-sun support.
- Expanded Customer Success Team: Strengthening
the Customer Success team under the leadership of Sunil Nagdev, new
Chief Customer Officer, WalkMe is driving outcome-based engagements
to prove the value of its DAP solution.
- Flexible Pricing Model: WalkMe introduced a
flexible, segmented pricing model to better cater to customers’
needs and provide a more structured path to digital adoption
success.
- Strengthened Partner Ecosystem: Expanding its
global partner ecosystem, WalkMe is collaborating with industry
leaders such as Deloitte, Accenture, and AWS to deliver enhanced
value to their shared customers.
- WalkMe Community: Membership in the WalkMe
Community has grown 400% in the past year and now has over 5,000
members.
WalkMe gears up for annual flagship event on June
18
Realize is where changemakers meet. WalkMe’s
exciting annual event engages customers and partners, demonstrating
what WalkMe can do for them — both today and tomorrow.
Catapulting the company’s leadership position even further, WalkMe
will share big announcements about advances in the generative AI
space to shape the future of work and build transformative value
for customers.
Register for Realize today!
“At WalkMe, we know all about being innovators and changemakers.
That’s why we’re bringing together changemakers across enterprises
to learn more about differentiating work and productivity through
AI innovation. WalkMe is leading the way with technology and
strategies for today and tomorrow. Attendees will learn how to best
navigate ongoing change management and obtain mission critical
tools and skills to maximize ROI, saving their company time and
money,” said Adriel Sanchez, CMO, WalkMe.
This year’s Realize will be a cohesive, personalized experience
for attendees through a hybrid model of both virtual and in-person
elements for different audiences over weeks rather than just one
day. The theme for Realize 2024 is “where changemakers meet.”
About WalkMe
WalkMe (WKME) pioneered the world’s leading Digital Adoption
Platform (DAP) so companies can effectively navigate the constant
change brought on by technology. With WalkMe, organizations drive
enterprise productivity and reduce risk by ensuring consistent,
responsible, and efficient adoption of software and the workflows
it powers. Our AI-driven platform sits on top of an organization’s
tech stack, identifies where people experience friction, and
delivers the personalized guidance and automation needed to get the
job done, right in the flow of work. Customers like IBM, Nestle,
ThermoFisher Scientific, and the U.S. Dept. of Defense trust WalkMe
to create the people-centric experiences required to boost the
effectiveness of their workflows and maximize software ROI.
Special Note Regarding Forward-Looking
Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. We intend such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained
in Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements contained in this press release other than statements of
historical fact are forward-looking statements. The words
“believe,” “may,” “will,” “estimate,” “potential,” “continue,”
“anticipate,” “intend,” “expect,” “could,” “would,” “project,”
“plan,” “target,” and similar expressions are intended to identify
forward-looking statements, though not all forward-looking
statements use these words or expressions. These forward-looking
statements are subject to risks, uncertainties and assumptions,
some of which are beyond our control. In addition, these
forward-looking statements reflect our current views with respect
to future events and are not a guarantee of future performance.
Actual outcomes may differ materially from the information
contained in the forward-looking statements as a result of a number
of factors, including, without limitation, the following: our
ability to manage our growth effectively, sustain our historical
growth rate in the future or achieve or maintain profitability; the
impact of the COVID-19 pandemic or adverse macro-economic changes
on our business, financial condition and results of operations; the
growth and expansion of the markets for our offerings and our
ability to adapt and respond effectively to evolving market
conditions; our estimates of, and future expectations regarding,
our market opportunity; our ability to keep pace with technological
and competitive developments and develop or otherwise introduce new
products and solutions and enhancements to our existing offerings;
our ability to maintain the interoperability of our offerings
across devices, operating systems and third-party applications and
to maintain and expand our relationships with third-party
technology partners; the effects of increased competition in our
target markets and our ability to compete effectively; our ability
to attract and retain new customers and to expand within our
existing customer base; the success of our sales and marketing
operations, including our ability to realize efficiencies and
reduce customer acquisition costs; the percentage of our remaining
performance obligations that we expect to recognize as revenue; our
ability to meet the service-level commitments under our customer
agreements and the effects on our business if we are unable to do
so; our relationships with, and dependence on, various third-party
service providers; our dependence on our management team and other
key employees; our ability to maintain and enhance awareness of our
brand; our ability to offer high quality customer support; our
ability to effectively develop and expand our marketing and sales
capabilities; our ability to maintain the sales prices of our
offerings and the effects of pricing fluctuations; the
sustainability of, and fluctuations in, our gross margin; risks
related to our international operations and our ability to expand
our international business operations; the effects of currency
exchange rate fluctuations on our results of operations; challenges
and risks related to our sales to government entities; our ability
to consummate acquisitions at our historical rate and at acceptable
prices, to enter into other strategic transactions and
relationships, and to manage the risks related to these
transactions and arrangements; our ability to protect our
proprietary technology, or to obtain, maintain, protect and enforce
sufficiently broad intellectual property rights therein; our
ability to maintain the security and availability of our platform,
products and solutions; our ability to comply with current and
future legislation and governmental regulations to which we are
subject or may become subject in the future; changes in applicable
tax law, the stability of effective tax rates and adverse outcomes
resulting from examination of our income or other tax returns;
risks related to political, economic and security conditions in
Israel; the effects of unfavorable conditions in our industry or
the global economy or reductions in information technology
spending; factors that may affect the future trading prices of our
ordinary shares; and other risk factors set forth in the section
titled “Risk Factors” in our Annual Report on form 20-F filed with
the Securities and Exchange Commission on March 18, 2024, and other
documents filed with or furnished to the SEC. These statements
reflect management’s current expectations regarding future events
and operating performance and speak only as of the date of this
press release. You should not put undue reliance on any
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee that future results, levels of
activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or will occur. Except
as required by applicable law, we undertake no obligation to update
or revise publicly any forward-looking statements, whether as a
result of new information, future events or otherwise, after the
date on which the statements are made or to reflect the occurrence
of unanticipated events.
Media Contact:Melanie Pasch
press@walkme.com
Investor Contact:John
Streppainvestors@walkme.com
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