Digital adoption platform for enterprises Whatfix raises US$12.5M in Series B
Whatfix, a digital adoption platform that helps companies deliver modern on-boarding, training and self-service support to users through contextual content displayed at the time of need, has raised US$12.5 million in Series B funding led by Eight Roads Ventures India.
US-based F-Prime Capital and Cisco Investments, besides existing investors Stellaris Venture Partners and Helion Venture Partners also participated in this round.
Bangalore-based Whatfix plans to use the capital to continue its expansion into the global markets. It will also grow the R&D, marketing, and sales teams in the US and India.
Launched in 2013 by Khadim Batti and Vara Kumar, Whatfix aims to disrupt the way application support and training is delivered to end-users of enterprise applications by providing contextual and real-time guidance. It also allows businesses and individuals to create support for frequently-asked questions (FAQs), training material and interactive tutorials, which can be integrated across all user touch-points inside web applications.
The startup aims to solve three critical needs of a business — onboard users to increase conversions and engagement, provide better support to reduce churn, and effective training for employees and customers.
Southeast Asia’s leading e-commerce company Lazada is one of its customers.
“Whatfix is one of the leading vendors of choice for enterprises that are looking at driving digital adoption across all their enterprise software applications (EASs) seamlessly. Soon, there will be widespread automation with AI and machine learning changing the way we work. However, employees will need digital expertise to leverage these technologies to effectively elevate productivity,” Co-founder and CEO Khadim Batti said. “Whatfix is already the simplest and the most effective platform for delivering an engaging and superior employee experience.”
“Accelerating user adoption is a key element of customer experience management, a focus area for Cisco. Whatfix is helping lead a market shift to a new, data-driven approach to user adoption. The Whatfix team is an example of the significant enterprise-tech talent in India, and we are excited to support them in their global journey,” said Sameer Garde, President India and SAARC at Cisco.
In April 2017, Whatfix raised US$3.7 million in Series A, led by Stellaris, with participation from Helion and Powerhouse Ventures. Prior to this, the startup had raised under US$900,000 in seed funding from Helion, preceded by a US$300,000 from Hanwha Group.
As per Whatfix’s estimates, the digital adoption for enterprise application software is a US$8 billion market and is growing rapidly.