Tray.io startup automating business processes raised $ 50 million
Tray.io — a company that built a General Automation Platform which enables citizen automators in any business role to build enterprise-class integrations and automation in a low-code environment — announced that it raised $50 million in Series C funding. This funding round was led by Meritech Capital. Spark Capital, GGV Capital, and True Ventures also participated in the round over their pro rata amounts.
“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,” said Tray.io CEO and co-founder Rich Waldron.
In the past year, Tray.io saw record-breaking revenue growth as its bookings grew by over 500% — which beat quarterly sales targets two years straight.
There are over 300 new connectors , connector updates, and product enhancements, including to SAP S/4HANA and Qualtrics, Ellucian, Magento, Microsoft PowerBI and Azure, Okta, and OneLogin as well as powerful new automation features around error handling, version management, team collaboration, low-code automation building, and the introduction of Tray Embedded that enables ISVs to add general automation to their own platforms.
Tray.io also has fast-growing partnerships across lead management, customer engagement, customer data platforms, collaboration, including DropBox, Drift, Segment, Zendesk, Salesloft, Copper, Qualtrics, Intercom, and Marketo.
This round of funding will support strategic hiring across its entire team as well as continuing investment into product development.
/Source: PULSE 2.0/
Nov. 29, 2019