Automation platform developer Tray.io announced it has raised $50 million in new funding.
The Series C round, which comes five months after its previous April 2019 funding round, was led by Meritech Capital, with participation from existing investors True Ventures, GGV Capital, and Spark Capital.
Tray.io’s General Automation Platform enables automation staff in any business role to build enterprise-class integrations and automation themselves in a low-code environment. It’s Tray Platform lets automators easily automate complex processes through a powerful, flexible platform, and can connect their entire cloud stack thanks to APIs. Companies currently using Tray.io’s technology include AdRoll, Outreach, Digital Ocean, and Udemy.
“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’s CEO and co-founder Rich Waldron, in a statement. “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.”
“General automation is showing nonstop momentum in a marketplace that’s hungry for integration support and efficiency lift,” said Alex Kurland of Meritech Capital. “The need to provide cohesive customer experience across the entire buying journey demands ongoing digital transformation. 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 plans to use the new funding to support strategic hiring across its entire team, and to continue investment into product development.