How Moveworks raised $200 million in Series C funding

Bhavin Shah, CEO and Founder

I’m delighted to announce that Moveworks has raised $200 million in Series C funding—at a valuation of $2.1 billion

This investment is, by far, the largest ever made in our industry. It underscores the importance of AI in providing support to employees, no matter where they’re working or when they ask for help.

It took five years, hundreds of people, and thousands of hours to reach this milestone in our journey. Today, I want to focus on two remarkable groups of people who've fueled our success to this point: our employees and our customers.

At Moveworks, we understand that AI is critical to the future of work. And today’s investment enables us to take some massive leaps forward in fully realizing our vision of helping employees focus on the most meaningful projects, not busywork.

Read the full announcement.

 

Employees who share a vision

To build an enduring company, you need to hire great talent. But talent alone is not enough.

When your employees are in lock-step with the company vision—driven by a desire to bring it to fruition—magical things can happen. These are the employees who push the boundaries of what’s possible, who question everything in pursuit of the best path forward. Moveworks is full to the brim of employees who are wired this way.

As a company that develops bleeding-edge AI, we have code in production today that wasn’t possible to write just a few months ago. It wasn’t just harder, it was impossible. This is the beauty of AI. Your engineers have to constantly innovate because new machine learning models emerge every day that have the potential to make a meaningful difference to your customers—if your team can figure out how to operationalize them. It takes a special type of engineer to work in this environment.

But this isn’t just our approach to engineering. This is part of our culture. It’s how we move the needle across engineering, product, operations, sales, marketing… the whole company. Our team of talented, curious, and passionate people, armed with a clear vision, and empowered to make great decisions, is what makes Moveworks special.

I’m incredibly proud of every employee at Moveworks, not just for the output of their work but also for their relentless desire to challenge the status quo.

Interested in joining Moveworks? Apply for one of our open positions.

 

Customers that put their people first

Today, the idea of using AI to create a better support experience for employees—whether they're remote or on-site—seems obvious. But when we founded Moveworks, few people believed it was possible, and even fewer were committed to making AI support a reality.

Our goal was to find these few companies, and leaders, who did believe. We discovered some organizations and people that could move quickly when they saw a good idea, that were motivated to help their employees focus on the work that matters, and that were willing to make a bet.

These early customers were far from typical. They were, and still are, pioneers in their own right. They had the foresight to see the impact on their business that our technology could make. And it didn’t matter to them that it wasn’t perfect. They wanted to help us make it perfect. It’s these customers that enabled us to refine our vision, ideate new capabilities, and grow this company.

The investment and support of our early customers mean that today, you don’t have to be a pioneer to use Moveworks. They helped us build a solution every company in the world could use to get impact on day one. They enabled us to make AI accessible to everyone. It’s thanks to our customers that we get to make our vision a reality.

Check out our customer stories here.

 

What's next

2021 has been a crazy, incredible year, and there’s still a long way to go. We’re only just getting started. Despite everything we’ve already accomplished, we have so much more to do, and this investment is a huge step in helping us reach new heights.

We’re excited to work with our new investors, Tiger Global and Alkeon Capital, and we’re thankful to our existing investment partners, Lightspeed Venture Partners, Bain Capital, Kleiner Perkins, ICONIQ Growth, and Sapphire Ventures for increasing their investment in Moveworks during this latest round. 

Thank you to everyone who has contributed to the journey so far. Get ready. The best is yet to come.


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