Whatfix, a leader in digital adoption solutions (“DAS”), announced today that it has raised $ 90 million in Series D funding. SoftBank Vision Fund 2 * led the round, with the participation of Eight Roads Ventures, Sequoia. Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments. Whatfix has raised $ 139.8 million to date and the company’s valuation has increased threefold in the past 15 months. The company plans to use the funding to continue growing its stronghold in the US market, accelerating global expansion into new markets such as Asia Pacific and Europe. Additionally, Whatfix will invest the funds in product innovation focusing on artificial intelligence (AI), business solutions and providing personalized experiences.
“Whatfix is proud to offer a unified digital adoption experience that allows organizations to extract the maximum value from their software tools, while also empowering employees, customers and companies,” said Khadim Batti, CEO and co-founder of Whatfix . “This latest round of funding strengthens our position as a market leader as we intend to expand our offering globally and continue to provide excellent customer service to the companies that rely on us to guide them through their digital transformation initiatives.”
Over the past two years, Whatfix has seen explosive growth. Turnover and headcount have tripled and the company has opened three new offices in the UK, Germany and Australia. Whatfix currently has 500 employees in six global offices.
“Digital adoption solutions are strengthening the growth and importance of SaaS products for businesses around the world,” said Munish Varma, Managing Partner, SoftBank Investment Advisers. Whatfix simplifies the use of SaaS products by companies, increasing productivity. Whatfix, with its global client roster, is well positioned to become a DAS leader and we are thrilled to be part of their journey. Sumer Juneja, Partner, SoftBank Investment Advisers, added: “Businesses spend billions on applications across multiple functions and yet employee adoption is low. Rapid adoption ensures return on software investment. Whatfix solutions will be. a key driver for companies to achieve this goal, which is reflected in their growth. “
“Major Fortune 1000 companies have chosen the Whatfixs digital adoption platform to help guide their digital transformation initiatives through numerous software tools used at the organization level. Having invested for the first time in 2019, we are proud of their journey and happy to continue our partnership with Khadim, Vara and the entire team. Whatfix is on track to revolutionize software adoption and the future of work, ”said Shweta Bhatia, Partner, Eight Roads Ventures.
With 500 global clients encompassing more than 100 Fortune 1000 brands, including the Dutch Red Cross, Experian, Sentry Financial Services, Cardinal Health Canada, BMC Software Inc., Bausch & Lomb and others, Whatfix continues to excel in guiding users throughout their DAP trip. Its transformative product offering and valuable customer service are fast becoming key differentiators when it comes to digital adoption solutions, which is why many are turning to Whatfix instead of legacy vendors.
“Whatfix was exactly the solution we needed for our highly customized Salesforce environment that includes teams around the world,” said Lee Glenn, Global CRM Training Consultant, Experian. “The flexibility of Whatfix allows us to guarantee our employees the training they need when they need it, tailored to their particular needs and cultural contexts. Our training time was also reduced by 50 percent. Whatfix is undoubtedly a top vendor for digital adoption. “
“From the start, the Whatfix team was responsive and easy to work with,” said Amy Boldt, Learning Leader, Sentry. “The resource savings worth approximately $ 950,000 can now be used for profitable businesses from the two different implementations we have made with Whatfix. We also had a significant reduction in the number of support calls and an increase in employee productivity and user satisfaction. “
Whatfix is a digital adoption solution that disrupts training, learning and application support content by providing contextual, interactive, real-time and autonomous user guidance, fostering additional adoption and productivity gains. Whatfix has a proven track record of increasing employee productivity by 35%, reducing training time and costs by 60%, reducing employee tickets by 50% and increasing application data accuracy by 20%. Whatfix is headquartered in San Jose, San Francisco, London, Melbourne, Sydney and Bangalore.
For more information, visit www.whatfix.com.
* As of the date of this press release, SoftBank Group Corp. has made capital injections to enable SoftBank Vision Fund 2 (“SVF 2”) to invest in certain portfolio companies. The information included herein is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external closure and any potential third party investors will receive further information relating to any SVF 2 investment prior to closing.
This press release has not been reviewed or approved by The Eastern Herald editorial staff.