Workato, provider of app integration and workflow automation services for businesses, raises $110M Series D at a post-money valuation of $1.7B
Workato, a company that offers an integration and automation platform for businesses, today announced that it raised $110 million at a post-money valuation of $1.7 billion.
Context & Ripple Effects
Workato's Series D caps a steady climb through the enterprise automation stack: a $10M Series A in 2017 backed by Salesforce Ventures and Workday Ventures, then a $70M Series C led by Redpoint Ventures in late 2019 with Slack and Broadcom already on the customer list. The $110M round at a $1.7B post-money valuation is the step that moves it from well-funded vendor into the top tier of integration platforms.
It also lands in a funding wave across adjacent automation categories — Moveworks raised a $200M Series C at a $2.1B valuation five months later for chatbot-driven IT automation, and WorkBoard's SoftBank-led Series D the same spring — signaling that investors were pricing the workflow layer itself, not individual apps, as the strategic ground.
First-order effects
- Workato gains $110M and unicorn status to scale its integration and automation platform against rivals, with Slack and Broadcom as reference customers anchoring enterprise credibility.
- Its investor base deepens beyond the strategic backers from earlier rounds, giving it capital to compete on go-to-market rather than just product.
Second-order effects
- Moveworks' subsequent $200M raise at $2.1B shows the knock-on effect: once one automation player clears a billion-dollar valuation, adjacent categories (IT support bots, planning software like WorkBoard) get repriced and funded at similar multiples.
- SaaS vendors whose apps Workato connects face pressure to open their APIs and partner rather than build native integrations, since buyers increasingly pick the orchestration layer first.
Third-order effects
- If the pattern holds — Workato's own $200M Series E at $5.7B ten months later suggests it did — the workflow/integration layer consolidates into a few heavily capitalized platforms that sit above the app stack and capture switching costs.
- That points toward an industry structure where enterprises standardize on one automation hub per function, making the workflow layer the next battleground after CRM and ERP.
The trend: Enterprise workflow automation is consolidating around venture-mega-funded platforms, with the integration layer emerging as the control point of the business software stack.