Whatfix offers digital adoption solutions to enhance SaaS products for enterprises globally which increases productivity. Founded in 2014, Whatfix helps enterprises and businesses simplify their training and support efforts with easily accessible contextual information. Its platform is built with real-time interactive guidance technology at its core which helps users achieve optimal performance by providing just-in-time guidance that enables them to perform tasks quickly and efficiently.
Whatfix integrates with numerous enterprise tools such as Salesforce, SAP, Power BI, Slack, and Workday, and it offers a suite of analytics including engagement metrics that show which guides are proving the most popular in terms of usage.
The company has 500 global customers comprising more than 100 Fortune 1000 brands, including The Netherlands Red Cross, Experian, Sentry Financial Services, Cardinal Health Canada, BMC Software, Bausch & Lomb among others.
Whatfix has a proven record of increasing employee productivity by 35%, reducing training time and costs by 60%, reducing employee case tickets by 50% and increasing application data accuracy by 20%.
Now the startup has announced it has raised $90 million in a Series D funding round led by SoftBank Vision Fund 2, it said on Tuesday. The round also saw participation from existing investors Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital, and Cisco Investments.
With this round, the valuation of the company is nearing $600 million, Whatfix said but did not share the details.
The company plans to use the funding to continue bolstering its presence across the US market while accelerating global expansion into new markets, including Asia-Pacific and Europe.
The startup is also expected to invest in product innovation, focussing on artificial intelligence (AI), enterprise solutions, and provision of personalized experiences to enterprise clients.
Other notable players in the space include the likes of WalkMe and Pendo, both of which have also raised hundreds of millions of dollars in venture capital over the past decade.
In the past two years, Whatfix has seen explosive growth. Revenue and headcount tripled and the company has opened three new offices in the United Kingdom, Germany and Australia. Whatfix currently has 500 employees across six global offices.