SaaS-based solutions provider Whatfix has reportedly secured USD 90 million during a Series D funding round which was led by SoftBank Vision Fund 2. The digital adoption platform has now managed to raise a total sum of USD 139.8 million since its establishment in 2010.
According to reliable sources, the funding round also saw participation from Sequoia Capital India, Eight Roads Ventures, F-Prime Capital, Cisco Investments, and Dragoneer Investment Group.
Whatfix is planning to route the latest infusion towards product innovation with emphases on artificial intelligence, enterprise solutions, and customized experiences. While sustaining its hold in the U.S. market, it intends to boost its global presence, especially in the Asia-Pacific and Europe, sources claimed.
Khadim Batti, the co-founder and CEO at Whatfix mentioned that the company has always specialized in empowering employees, clients, and businesses to adopt advanced solutions and ditch the age-old technique of in-person training.
Samir Juneja, a Partner at SoftBank Investment Advisors was quoted saying that with a portfolio of global clientele including Cisco and Bausch & Lomb, Whatfix is likely to emerge as a leader in DAS solutions.
According to Juneja, various businesses shell out billions on multiple applications, although the employee adoption rates have always remained low. However, swift adoption assures payback on software investments and this is where Whatfix’s offerings will be a key driver for enterprises looking to achieve the goal that is evident in its growth.
Whatfix has witnessed a threefold increase in its revenue and workforce, especially during the pandemic. It claims to have assisted clients in increasing employee productivity by 35% and a reduction in training time as well as costs by 60%, which has subsequently led to a 20% rise in-app data accuracy.
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