Apr 4 2019
(Note: For additional details, please see the story on TechCrunch.)
Tray.io Launches Era of the Automated Organization with $14.3 Million Series A Funding
GGV Capital Leads Round, Fueling Tray.io’s Mission to Enable Process Automation for Enterprise Business Users
**SAN FRANCISCO, Calif - Jun 18, 2018- **Tray.io, the General Automation Platform that finally puts complex integrations and enterprise-scale automation into the hands of business users, enabling them to become citizen automators, today announced a $14.3 million Series A investment led by GGV Capital, bringing the company’s total financing to $21 million. Additional investors include True Ventures, Mosaic Ventures, and AngelPad. Glenn Solomon, Managing Partner, GGV Capital will join the company’s board of directors.
The funds will support Tray.io’s strategic hiring initiatives and drive continued development of its integration and automation platform. Built on serverless architecture, Tray.io’s platform solves the business challenge of scale by utilizing APIs that empower its users to build custom workflows that massively improve efficiency, while requiring no coding. From using the platform to flawlessly manage leads for marketing, to routing crucial prospect details for sales teams, to uniformly organizing payment processing for finance and operations teams, business users use Tray.io to integrate, automate, and take full ownership of their most important business data. Tray is built to support the needs of enterprise companies, by processing large datasets between multiple services in real time.
“The success of Tibco, Webmethods and the recent $6.5 billion Mulesoft acquisition by Salesforce shows the pivotal role of integration in today’s cloud-based world. The talented Tray.io team has tapped into the demand for bespoke integrations and has established itself as a clear leader in this category,” said Glenn Solomon of GGV Capital. “This is a talented and driven team that has built powerful, enterprise-scale automation plus universal ease-of-use, solving three of the toughest challenges in business today: inefficiency, data management, and scale. That’s why the company represents one of the single most important developments for the future of business.”
The company already counts savvy business leaders in marketing, sales, operations, finance, and customer success at successful enterprises and rapidly-growing companies worldwide as customers, including Forbes, RingCentral, Segment, DigitalOcean, AdRoll, and Vox Media.
“We are both thrilled and humbled to have reached this incredible milestone in our journey,” said Tray.io co-founder and Rich Waldron. “At Tray.io, we believe that anyone can and should use automation to improve their processes. We envision a future where all businesses use the power of automation to improve their internal processes and fully own their data, and armed with data-driven insights, are able to focus entirely on higher-level strategic goals - we call this the Era of the Automated Organization.”
“Congratulations to Tray.io on closing this new round of funding,” said Dan Ahmadi, Director of Demand Gen at Outreach. "In a business scaling as quickly as Outreach, the Tray.io platform enables us to move quickly by streamlining data flows across all our systems, in turn helping us deliver more value to our customers.”
About GGV Capital
GGV Capital is a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the last 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in Consumer/New Retail, Social/Internet, Enterprise/Cloud and Frontier Tech. GGV has invested in over 260 companies with more than 40 companies valued at more than $1 billion. Portfolio companies include Airbnb, Alibaba, Ctrip, Didi, Hellobike, HashiCorp, Houzz, Keep, Opendoor, Slack, Square, Toutiao, Wish, Xiaohongshu, and YY. Find out more at ggvc.com.
At Tray.io, we believe that any organization can and should automate. With Tray, citizen automators throughout organizations can easily automate complex processes through a powerful, flexible platform, and can connect their entire cloud stack thanks to APIs. Today, businesses like Forbes, Segment, and AdRoll rely on Tray to connect, process, and automate data between the tools they use every day.
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