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Startup firm Whatfix raises $125 mn in Series E round led by Warbug Pincus
Source: Business Standard
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Khadim Batti, CEO of Whatfix along with Vara Kumar, co-founder
Whatfix, a digital adoption platform (DAP), today announced it has secured $125 million in a Series E funding round, led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2.
The investment will enable Whatfix to expand its category leadership and enhance its integrated product suite through organic growth and strategic acquisitions. The company also aims to expand its market presence in the US, EMEA, and APAC regions to strengthen its footprint in the global public sector.
“Enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences,” said Khadim Batti, chief executive officer and co-founder of Whatfix.
“Whatfix’s innovation is evident through the launch of four new products since 2021, securing five US patents with 18 more in the pipeline. This investment will add more fuel to the tank, accelerating a new era of innovation for our industry, bolstering the unparalleled value we bring to our customers, and reshaping the future of software adoption,” he added.
Pioneering the concept of “Userization,” Whatfix ensures technology adapts to users, not the other way around. By integrating GenAI throughout its product suite, offering digital adoption, product analytics, and application simulation, Whatfix accelerates this user-first approach, building an experience layer across the enterprise software stack. This empowers enterprises to maximise technology return on investment (ROI) while allowing employees to build greater efficiency.
The company serves a marquee global clientele, including Arrow Electronics, Schneider Electric, and Avnet, along with partners like Microsoft, Salesforce, Infosys, and Accenture, who trust Whatfix to accelerate ROI on their technology investments.
Supporting 80+ Fortune 500 companies, Whatfix registered top-decile performance with a 4.5x increase in annual recurring revenue (ARR) since its 2021 round, with new products contributing 15 per cent of revenue.
Narendra Ostawal, managing director, head of India private equity, Warburg Pincus, said, “Whatfix’s unique digital adoption platform is revolutionising how organisations implement digital transformation programmes, create outstanding user experiences, and empower users to fully leverage software functionalities and enhance productivity.”
Narendra Rathi, investment director, SoftBank Investment Advisers, added, “Since our initial investment in 2021, we are pleased to see Whatfix’s strong growth and sustained innovation. Their role in the digital transformation journeys of Fortune 500 companies is a testament to their customer focus. We are excited to continue backing Khadim and Vara as they enter their next phase of growth.”
First Published: Sep 25 2024 | 8:07 PM IST
