26 November 2019:
Tray.io has raised $50 million in Series C round of funding. The funding round was led by Meritech Capital.
Existing investors Spark Capital, GGV Capital, and True Ventures also participated in the funding round.
The company will use the fresh capital to support strategic hiring across its entire team, as well as continuing investment into product development.
Rich Waldron, Tray.io’s CEO and co-founder, said, “This is a clear confirmation that the automated organization is the future of work for the enterprise. Over time, we’re seeing successful firms drive impressive growth by shifting from a scattershot, ad hoc technology mindset to building an automated central nervous system.”
Rich Waldron, added, “We’ve seen general automation act as the new growth engine for rapidly-growing companies as they solve integration challenges and scale operations with low-code general automation. That’s why we’re doubling down on hiring the best team in the world, including veteran executives from ServiceNow and Duo to serve our incredible customers so we can continue to earn the world-class customer ratings they’ve awarded us.”
Alex Kurland of Meritech Capital, said, “General automation is showing nonstop momentum in a marketplace that’s hungry for integration support and efficiency lift. The need to provide cohesive customer experience across the entire buying journey demands ongoing digital transformation.”
Alex Kurland, added, “To scale with the exponential increase in software and customer data, companies need to take full ownership of their data with general automation. Not just in IT, but for line-of-business roles across the entire organization. There’s no limit to the upside for general automation in today’s marketplace, and Tray.io is the undisputed leader in the category.”
Tray.io offers a General Automation Platform that empowers business users in any role to easily integrate any software to seamlessly flow data while building powerful automated workflows in a low-code environment to orchestrate complex business processes, as well as an Embedded edition that enables product leaders to seamlessly embed software integrations within their own products without development resources or any need for future maintenance.
(Source – Tray.io)