Whatfix raises USD 90 mn funding from SoftBank Vision Fund 2, others

By: |
June 08, 2021 8:26 PM

Whatfix has now raised USD 139.8 million till date, and its valuation has increased three times in the past 15 months, it added.

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.Eightfold.AI has raised over $410 million in funding so far, including the current round, with $350 million coming in the last six months.

Whatfix, a digital adoption solutions provider, on Tuesday said it has raised USD 90 million (about Rs 656 crore) in funding led by SoftBank Vision Fund 2.

The series D funding also saw participation from Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments, a statement said.

Whatfix has now raised USD 139.8 million till date, and its valuation has increased three times in the past 15 months, it added.

“The company plans to use the funding to continue growing its stronghold in the US market while accelerating global expansion into new markets such as Asia Pacific and Europe,” it said.

Whatfix will also invest the funds in product innovation focusing on artificial intelligence (AI), enterprise solutions, and providing personalised experiences, it added.

“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 market leaders as we plan to expand our offerings globally and continue to provide excellent customer service to businesses…” Whatfix CEO and co-founder Khadim Batti said.

The company said its revenue and headcount has tripled, and it has opened three new offices in the UK, Germany and Australia.

Whatfix currently has 500 employees across six global offices.

“Whatfix, with its roster of global clients, is well placed to become a DAS leader, and we are excited to be part of their journey. Enterprises spend billions on applications across multiple functions and yet employee adoption is low. Quick adoption ensures payback on software investments,” Sumer Juneja, Partner at SoftBank Investment Advisers, said.

He added that Whatfix’s solutions will be a key driver for enterprises to achieve this goal, which is reflected in its growth.

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