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Digital hiring platform (DAP) provider Whatfix has raised US$125 million in a Series E funding round led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2.
This latest investment takes the Bengaluru-based company’s total funding to over US$265 million, including backing from notable investors such as Eight Roads Ventures, Peak XV, Dragoneer Investment Group, F-Prime Capital and Cisco Investments.
Founded in 2021 by Khadim Batti and Vara Kumar, Whatfix provides in-app guidance and performance support tools to help businesses streamline their digital transformation and increase efficiency for their users.
The platform is designed to drive adoption of software products by improving user experience, a key need as businesses seek to maximize the value of their digital tools. Whatfix’s clients include global customers such as Cisco, Arrow Electronics, Schneider Electric, Avnet, Microsoft, Salesforce, Infosys and Accenture.
The Series E funding will fuel Whatfix’s category expansion and product innovation plans, including further development of its integrated product suite. The company also aims to strengthen its market presence in the US, EMEA, and APAC regions through both organic growth and strategic acquisitions.
“Enterprises are grappling with the complexities of digital transformation and increasing pressure to deliver superior user experience,” said Khadim Bhatti, CEO and co-founder of Whatfix. “Whatfix’s innovation is evident with four new product launches since 2021, five US patents awarded, and 18 more pending. This investment will put more fuel in the tank, accelerating a new era of innovation for the industry, strengthening the unparalleled value we provide to our customers and reshaping the future of software deployment.”
Whatfix, which supports over 80 Fortune 500 companies, claims to have seen a 4.5x increase in annual recurring revenue (ARR) since its 2021 round, with new products accounting for 15% of revenue and ranking in the top 10% of performance.
“Whatfix’s unique Digital Adoption Platform is revolutionizing the way organizations execute digital transformation programs, create superior user experience and enable users to maximize software capabilities and become more productive. As the partner of choice for top global enterprises across industries, we see huge potential for Whatfix to leverage the tailwinds and consolidate its position in the fast-growing DAP market,” said Narendra Ostawal, Head of India Private Equity, Warburg Pincus.
