Workiva has obtained OneCloud in a transfer to expand the performance of its reporting compliance system.
The acquisition will come two years ago immediately after Workiva started working with OneCloud as an original machines maker (OEM) partner, gaining access to a pioneering integration system as a services (iPaaS) technology that enterprises use to combine and unify data from hundreds of purposes throughout on-premises or cloud infrastructure.
Workiva mentioned the offer would solidify and speed up its posture as “a major cloud system for monetary, regulatory and operational reporting.” Conditions of the transaction were not disclosed.
“Digital transformations proceed to speed up at a fast speed. Teams throughout the company will have to immediately harmonize, simplify and manage data, both monetary and non-monetary, from disparate resource programs,” Workiva CEO Marty Vanderploeg mentioned in a news launch.
“The acquisition of OneCloud permits just that and positions Workiva to force the boundaries of innovation for our system and methods,” he additional.
As VentureBeat experiences, Workiva, which was founded in 2008, lets companies these types of as Google, Slack, and Delta Air Lines “to join disparate data from throughout their paperwork, spreadsheets, and displays to provide automated and contextual experiences to administrators, shareholders, regulators, or anybody else concerned with a company’s compliance and governance.”
“As with just about every cloud-centered company, Workiva has benefited from pandemic-pushed electronic transformation, with its valuation about quadrupling above the past 18 months,” VentureBeat observed.
The company mentioned OneCloud’s technology would expand its system, offering clients with “the capability to join data from sources these types of as ERP, GRC, HCM and CRM programs, as nicely as other third-celebration cloud and on-premise purposes.”
New York-centered OneCloud was founded in 2017. It had not obtained further more funding due to the fact the $1 million that Workiva invested in July 2019.
“We’ve been amazed with how Workiva used our technology to complement their progressive cloud,” CEO Quin Eddy mentioned. “Our staff has been happy to be a component of Workiva’s expansion tale and we look ahead to working with each other as an built-in staff to join enterprises throughout the world.”