Welcome Tray
We’re delighted to welcome Tray.io to the Spark Capital family as the lead investor in their $37M series B. As enterprises rapidly adopt cloud-based applications, making these numerous tools work together seamlessly poses many challenges. The need for a powerful, yet flexible platform for business users to integrate and automate the growing number of applications couldn’t be more needed today. Tray’s platform empowers business users, and not just engineers, to easily automate complex processes between any number of applications and workflows. At Spark, we get excited about product-first approaches in reimagining the way in which people use software in the workplace — Tray fits this to a tee.
As cloud applications are exploding within enterprises, there is a massive shortage of time, talent, and resources in managing and integrating these continually disparate software applications. There are over 6,000 cloud services in marketing alone and the average IT team uses 25 different software applications. As companies are also in a race to deliver great experiences to their end customers, automation is a key enabler. Companies don’t have the resources to spend engineering effort and money on building one-off and custom integrations between applications — they want to spend their resources building products that drive business value. Tray’s platform enables business users, or “Citizen Automators”, to harness the power of APIs to create and configure the most complex of workflows. The market for Tray is massive and only beginning to take shape.
Tray.io’s General Automation Platform acts as the connective fiber between applications and workflows and empowers line of business users to build, create, and orchestrate complex integrations and workflows between applications. The Tray platform can scale to many thousands of events per second and is used across marketing, sales, support, product, HR and operations software stacks for many hundreds of different use-cases. MuleSoft, which was acquired by Salesforce for $6.5B in 2018, focused on IT and required vast resources to operate effectively. Although, they understood that the modern API is a key enabler and that companies can no longer keep up with the demand of integrating their ever-changing technology stacks. Tray is reimagining this for the rapidly growing cloud-first world.
Tray was founded and is led by an incredibly talented and dedicated team focused on democratizing automation within enterprises. Moreover, we spoke to many of Tray’s customers that just couldn’t live without them and the product rapidly expands as their customers discover new areas they can automate. Tray’s platform can also scale to the likes of massive enterprise customers like Lyft, IBM, SAP, and many others. After hearing so many successful customer stories it was no surprise that Tray is growing ARR by 450%+ year-over-year. For those reasons and many more, we couldn’t be more thrilled to partner with Rich, Ali, and Dom in creating a category-defining business ushering in the “era of the automated enterprise”.
And Tray is hiring!
