Digital Adoption Solutions startup Whatfix has raised $90 million in Series D funding. SoftBank Vision Fund II led the round. It also saw the participation from Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments. The company plans to use the funds to continue growing its stronghold in the US market. It also aims to accelerate global expansion into new markets such as the Asia Pacific and Europe. Whatfix will also invest the funds in product innovation focusing on AI, enterprise solutions, and personalized experiences.
The startup has now raised $140 million with valuation tripling in the past 15 months. The company, in a statement, said that they have seen explosive growth in the past two years. Revenue and headcount also tripled. Further, the company has opened three new offices in the UK, Germany and Australia. Its customer portfolio includes the Netherlands Red Cross, Experian, Sentry Financial Services, Cardinal Health Canada, BMC Software Inc. Bausch & Lomb, and more. Khadim Batti, CEO and co-founder, Whatfix, on the investment said, “This latest round of funding strengthens our position as market leaders as we plan to expand our offerings globally and continue to provide excellent customer service to businesses who look to us to guide them through their digital transformation initiatives.”
Whatfix is leading Digital Adoption, SoftBank states.
“Digital Adoption Solutions are enhancing the growth and importance of SaaS products for enterprises globally,” said Munish Varma, Managing Partner, SoftBank Investment Advisers. Whatfix makes it easier for companies to use SaaS products, which increases productivity. With its roster of global clients, is well placed to become a DAS leader, and we are excited to be part of their journey.”
Sumer Juneja, a Partner at SoftBank Investment Advisers, further, added, “Enterprises spend billions on applications across multiple functions and yet employee adoption is low. Quick adoption ensures payback on software investments. Whatfix’s solutions will be a key driver for enterprises to achieve this goal, which is reflected in their growth.”