Workato has just authorized a new Series E preferred stock which could increase the valuation to $2.99 billion if all Series E shares are issued. The software company is previously backed by Altimeter Capital, Battery Ventures, Redpoint Ventures, Insight Partners, Norwest Venture Partners, and Storm Ventures to name a few. The most recent Series E round follows $110 million raised for Series D. The terms surrounding the Series E include pari passu liquidation preference with all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $16.2486, an up round from Series D at $5.27955.
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