Workiva Buys OneCloud to Add Functionality
Workiva has acquired OneCloud in a move to grow the functionality of its reporting compliance platform.
The acquisition arrives two years in the past soon after Workiva began performing with OneCloud as an authentic gear company (OEM) companion, gaining access to a groundbreaking integration platform as a company (iPaaS) technological know-how that enterprises use to combine and unify data from thousands of apps throughout on-premises or cloud infrastructure.
Workiva stated the offer would solidify and speed up its situation as “a main cloud platform for money, regulatory and operational reporting.” Terms of the transaction had been not disclosed.
“Digital transformations proceed to speed up at a quick speed. Groups throughout the business must speedily harmonize, simplify and command data, both equally money and non-money, from disparate supply programs,” Workiva CEO Marty Vanderploeg stated in a news launch.
“The acquisition of OneCloud permits just that and positions Workiva to push the boundaries of innovation for our platform and options,” he included.
As VentureBeat reviews, Workiva, which was founded in 2008, enables firms this sort of as Google, Slack, and Delta Air Lines “to link disparate data from throughout their files, spreadsheets, and presentations to serve automated and contextual reviews to supervisors, shareholders, regulators, or any individual else anxious with a company’s compliance and governance.”
“As with just about just about every cloud-centered business, Workiva has benefited from pandemic-pushed electronic transformation, with its valuation approximately quadrupling over the earlier eighteen months,” VentureBeat mentioned.
The enterprise stated OneCloud’s technological know-how would grow its platform, offering consumers with “the capability to link data from resources this sort of as ERP, GRC, HCM and CRM programs, as effectively as other 3rd-celebration cloud and on-premise apps.”
New York-based OneCloud was founded in 2017. It had not received more funding since the $1 million that Workiva invested in July 2019.
“We’ve been impressed with how Workiva used our technological know-how to complement their innovative cloud,” CEO Quin Eddy stated. “Our group has been happy to be a element of Workiva’s development tale and we seem forward to performing with each other as an integrated group to link enterprises throughout the globe.”