WalkMe, an AI-powered enterprise customer engagement and business insight platform, announced terms for its IPO on Monday.
The Tel Aviv, Israel-based company plans to raise $282 million by offering 9.3 million shares at a price range of $29 to $32. At the midpoint of the proposed range, WalkMe would command a fully diluted market value of $2.9 billion.
WalkMe's no-code Digital Adoption Platform overlays any application and provides businesses with a unified view and insights across the organization's software stack to improve key business processes and drive customers to action. As of March 31, 2021, the company had roughly 2,000 customers, including 155 of the Fortune 500.
WalkMe was founded in 2011 and booked $157 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol WKME. Morgan Stanley, Goldman Sachs, Citi, Wells Fargo Securities, Barclays, and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 14, 2021.
