WalkMe Achieves FedRAMP® Ready Status

Rhea-AI Summary

WalkMe, Inc. (NASDAQ: WKME) has announced its achievement of Ready status for the Federal Risk and Authorization Management Program (FedRAMP) at a Moderate impact level. This milestone positions WalkMe as the first digital adoption platform provider listed on the FedRAMP Marketplace. The company aims to aid federal agencies in enhancing technology modernization and IT transformation.

With this status, WalkMe can support U.S. federal, state, and local government clients, and expects to transition from StateRAMP active to pending status, enhancing security standards for state, local, and educational institutions. The feedback from federal executives has been positive, highlighting WalkMe's value in accelerating digital transformations and improving customer experience.

Positive

• Achieved Ready status for FedRAMP, enhancing credibility and market position.
• First digital adoption platform listed on FedRAMP Marketplace.
• Supports technology modernization for U.S. federal agencies.
• Positive feedback from federal executives regarding WalkMe's solutions.

Negative

• None.

Milestone demonstrates WalkMe’s continued commitment to the U.S. Public Sector Market

SAN FRANCISCO, April 11, 2023 (GLOBE NEWSWIRE) -- WalkMe Inc. (NASDAQ: WKME), a leading provider of digital adoption solutions, today announced it has achieved Ready status for the Federal Risk and Authorization Management Program (FedRAMP) at a Moderate impact level. With this achievement, WalkMe becomes the first digital adoption platform provider listed on the FedRAMP Marketplace as the company advances its existing position in accelerating federal agencies’ technology modernization and IT transformation.

With WalkMe, the Federal Government will be able to accelerate mission success in multiple areas including:

1. Digital Government/Digital Services - providing a framework for digital services and improving critical Customer Experience (CX) initiatives for employees and citizens
2. Technology & Legacy Modernization - enhancing and renovating legacy platforms and enterprise applications
3. Data & Information Management - improving data integrity and quality issues related to interoperability of the government tech stack
4. Improving the Government Workforce - increasing employee productivity by eliminating operational drag of poorly optimized software and application

FedRAMP is a government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services. It helps the U.S. government adapt from legacy IT to secure cloud-based solutions.

The U.S. federal market is one of the largest and most complex enterprises in the world, which will now benefit from WalkMe’s established success and innovation in a range of markets including healthcare, financial services, education, hospitality, retail, and more.

WalkMe is listed on the FedRAMP Marketplace with Authority to Operate status at the Moderate level estimated in Summer 2023.

“Achieving FedRAMP Ready status signifies an incredible moment in WalkMe’s growth story as we officially enter the U.S. Federal market,” said Billy Biggs, Vice President - Public Sector, WalkMe. “Digital transformation is a top priority for every C-level executive within the federal government. Now more than ever, federal executives are looking for technology solutions that deliver true return on investment and help accelerate mission success in a matter of weeks, not years. The feedback from the federal government ecosystem on the WalkMe value proposition over the last few months has been extremely positive, and we’re excited to be able to offer our solutions while meeting the highest security posture via FedRAMP.”

As part of WalkMe’s progress, the company also expects to move from StateRAMP “active” status to “pending” to further serve the security standards for state, local and higher education clients interested in getting the most out of their technology investments through digital adoption platforms. Being FedRAMP Ready means that WalkMe can offer a full range of its solutions to U.S. federal, state and local government customers, U.S. government contractors, and federally funded research and development centers (FFRDCs). Read more about WalkMe for the public sector here.

About WalkMe
WalkMe's cloud-based digital adoption platform enables organizations to measure, drive and act to ultimately accelerate their digital transformations and better realize the value of their software investments. Our platform leverages proprietary technology to provide visibility to an organization's Chief Information Officer and business leaders, while improving user experience, productivity and efficiency for employees and customers. Alongside walkthroughs and third-party integration capabilities, our platform can be customized to fit an organization's needs.

Special Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively, sustain our historical growth rate in the future or achieve or maintain profitability; the impact of the COVID-19 pandemic or adverse macro-economic changes on our business, financial condition and results of operations; the growth and expansion of the markets for our offerings and our ability to adapt and respond effectively to evolving market conditions; our estimates of, and future expectations regarding, our market opportunity; our ability to keep pace with technological and competitive developments and develop or otherwise introduce new products and solutions and enhancements to our existing offerings; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications and to maintain and expand our relationships with third-party technology partners; the effects of increased competition in our target markets and our ability to compete effectively; our ability to attract and retain new customers and to expand within our existing customer base; the success of our sales and marketing operations, including our ability to realize efficiencies and reduce customer acquisition costs; the percentage of our remaining performance obligations that we expect to recognize as revenue; our ability to meet the service-level commitments under our customer agreements and the effects on our business if we are unable to do so; our relationships with, and dependence on, various third-party service providers; our dependence on our management team and other key employees; our ability to maintain and enhance awareness of our brand; our ability to offer high quality customer support; our ability to effectively develop and expand our marketing and sales capabilities; our ability to maintain the sales prices of our offerings and the effects of pricing fluctuations; the sustainability of, and fluctuations in, our gross margin; risks related to our international operations and our ability to expand our international business operations; the effects of currency exchange rate fluctuations on our results of operations; challenges and risks related to our sales to government entities; our ability to consummate acquisitions at our historical rate and at acceptable prices, to enter into other strategic transactions and relationships, and to manage the risks related to these transactions and arrangements; our ability to protect our proprietary technology, or to obtain, maintain, protect and enforce sufficiently broad intellectual property rights therein; our ability to maintain the security and availability of our platform, products and solutions; our ability to comply with current and future legislation and governmental regulations to which we are subject or may become subject in the future; changes in applicable tax law, the stability of effective tax rates and adverse outcomes resulting from examination of our income or other tax returns; risks related to political, economic and security conditions in Israel; the effects of unfavorable conditions in our industry or the global economy or reductions in information technology spending; factors that may affect the future trading prices of our ordinary shares; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on form 20-F filed with the Securities and Exchange Commission on March 14, 2023, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media Contact:
Christina Knittel
press@walkme.com

Investor Contact:
John Streppa
investors@walkme.com

FAQ

What is WalkMe's recent achievement regarding FedRAMP?

WalkMe has achieved Ready status for FedRAMP at a Moderate impact level, becoming the first digital adoption platform listed on the FedRAMP Marketplace.

How does WalkMe's FedRAMP status affect its business?

The FedRAMP status allows WalkMe to serve U.S. federal, state, and local government clients, enhancing its market position and credibility.

What benefits does WalkMe offer to federal agencies?

WalkMe provides solutions for digital transformation, technology modernization, and improving customer experience for federal agencies.

Who is the target market for WalkMe's solutions after receiving FedRAMP status?

WalkMe can now offer its solutions to U.S. federal, state and local government customers, government contractors, and federally funded research centers.

What feedback has WalkMe received from federal executives?

Feedback has been extremely positive, indicating that federal executives recognize the value WalkMe brings in accelerating mission success.