Moveworks raises $200 MN Series C funding
Moveworks, the AI platform that automates support at work, has closed a $200 MN Series C financing round — just five years after its inception in 2016. It represents the largest investment ever made in an AI platform for employee service, reaffirming the company's leadership in the fast-growing industry. Moveworks has now raised $315 MN in total funding, with a valuation of $2.1 BN.
Leading the round were Tiger Global and Alkeon Capital, with participation from existing investors Lightspeed Venture Partners, Sapphire Ventures, Bain Capital, ICONIQ Growth, and Kleiner Perkins. In addition, Nikesh Arora, Chairman, and CEO of Palo Alto Networks and Former Chief Business Officer of Google, will be joining the board as an independent director.
"In this new era of hybrid work, Moveworks' AI support offering has never been more relevant," said John Curtius, Partner at Tiger Global. "Based on our research, we expect the Global 2000 to embrace AI across support use cases going forward."
Moveworks is an AI platform purpose-built to solve employees' support issues, from IT tickets to HR requests to policy questions. With the conventional approach, support teams take an average of three days to address these issues by hand, causing disruptions that delay important work.
Over the past 15 months, Moveworks has seen a 700 percent increase in active users and a 500 percent increase in issues solved, as remote employees relied on the platform to stay productive. Moveworks allowed them to order hardware for the home office, keep pace with changing policies, troubleshoot remote collaboration tools, clarify healthcare benefits, and much more, all without having to leave Teams or Slack.