Workiva has acquired OneCloud in a move to extend the operation of its reporting compliance system.
The acquisition arrives two yrs back just after Workiva started operating with OneCloud as an initial tools producer (OEM) husband or wife, attaining access to a groundbreaking integration system as a company (iPaaS) technologies that enterprises use to integrate and unify info from thousands of applications throughout on-premises or cloud infrastructure.
Workiva stated the deal would solidify and speed up its place as “a foremost cloud system for financial, regulatory and operational reporting.” Conditions of the transaction were being not disclosed.
“Digital transformations continue on to speed up at a rapid speed. Groups throughout the business need to immediately harmonize, simplify and command info, each financial and non-financial, from disparate supply programs,” Workiva CEO Marty Vanderploeg stated in a news launch.
“The acquisition of OneCloud permits just that and positions Workiva to thrust the boundaries of innovation for our system and answers,” he added.
As VentureBeat stories, Workiva, which was launched in 2008, will allow businesses these types of as Google, Slack, and Delta Air Traces “to hook up disparate info from throughout their documents, spreadsheets, and presentations to serve automated and contextual stories to professionals, shareholders, regulators, or any one else involved with a company’s compliance and governance.”
“As with just about every cloud-targeted small business, Workiva has benefited from pandemic-pushed digital transformation, with its valuation roughly quadrupling around the earlier eighteen months,” VentureBeat famous.
The organization stated OneCloud’s technologies would extend its system, furnishing consumers with “the ability to hook up info from resources these types of as ERP, GRC, HCM and CRM programs, as perfectly as other third-get together cloud and on-premise applications.”
New York-based mostly OneCloud was launched in 2017. It had not obtained even further funding considering that the $1 million that Workiva invested in July 2019.
“We’ve been amazed with how Workiva used our technologies to complement their ground breaking cloud,” CEO Quin Eddy stated. “Our team has been happy to be a section of Workiva’s progress story and we glimpse forward to operating alongside one another as an built-in team to hook up enterprises throughout the world.”