Last year and the COVID 19 pandemic brought on an unprecedented need for digital adoption, where businesses that did not get with the times and go online had to simply stay shut for months. This lead to a massive growth for companies like Whatfix, which offer “Digital transformation” for companies that are looking to go online. Thus, backed by this growth spurt, the San Jose and Bangalore headquartered firm has nabbed $90Mn in a funding round led by Softbank’s Vision Fund 2.
Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments also invested in the round. The company has raised close to $140Mn to date.
Whatfix, in essence, is basically a tutorial for companies, which allows them to create and integrate interactive walkthroughs on any website or web application. The company’s offering provides chatbot like assistance to its users to scale up digital adoption, using AI to decided what suggestions to provide next. Sounds complicated right?
Well, it’s not. Whatfix is like a chatbot assistant, which sits on top of all of a company’s applications and helps users navigate through and learn the ropes of the platform. Think ‘Clippy’ from early versions of Windows. The best part? Whatfix works on just about every piece of modern software. It has been developed in such a way that it can provide assistance on apps that have been particularly optimized for one particular workspace.
That’s not all, as Whatfix also provides assistance with performance support, change management, and training, through its varied suite of products. Thus, if you have a business and are planning to take the jump to digitization, Whatfix can help make the transition easier.
This model has helped the company grow at an exponential rate, as claims to have tripled its revenues over the last two years. It has over 500 global customers, including the likes of The Netherlands Red Cross, Experian, Sentry Financial Services, and Bausch & Lomb.
“Whatfix is proud to offer a unified digital adoption experience enabling organisations to extract the full value from their software tools while also empowering employees, customers, and businesses. This latest round of funding strengthens our position as we plan to expand our offerings globally and continue to provide excellent customer service to businesses,” said Khadim Batti, chief executive officer and co-founder, Whatfix.
The company plans to use this funding to bolster its presence in the US, while also continuing to enter new markets, including in Asia-Pacific and Europe. It has recently opened up a new office each in UK, Germany, and Australia.
It will also use the capital to keep expanding its tech platform and hiring more talent to meet demand.