Digital adoption platform Whatfix on Wednesday announced $125 million funding in its Series E round led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2. The company said the new round is being raised at a significant premium and will be deployed to improve its integrated product suite through organic growth and strategic acquisitions.
Whatfix said it would also target market expansion in the US, EMEA, and APAC regions to strengthen its footprint in the global public sector.
Speaking on the latest capital infusion, Khadim Batti, CEO and co-founder of Whatfix said enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences.
“Whatfix’s innovation is evident through the launch of four new products since 2021, securing five US patents with 18 more in the pipeline,” he added.
The company had last raised $90 million in June 2021 from SoftBank Vision Fund 2, Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital, and Cisco Investments.
Founded in 2014, the startup enables organizations to drive user productivity, ensure process compliance, and improve user experience of internal and customer-facing applications. It supports over 700 enterprises, including more than 80 Fortune 500 companies such as Shell, Microsoft, Schneider Electric, UPS Supply Chain Solutions etc.
The company claimed a 4.5X increase in annual recurring revenue (ARR) since its 2021 round, with new products contributing 15 per cent of revenue.