Total amount raised
$264.8 Millions
Latest funding date
Location
Title
Whatfix has successfully raised significant funding over multiple rounds, establishing itself as a key player in the digital adoption platform space. The platform offers in-app guidance, on-demand user support, and customer contextual messages across web, desktop, and mobile applications.
Keep reading to explore the intricacies of Whatfix's fundraising journey and the investors backing this innovative platform.
What Is Whatfix?
Whatfix, founded in 2014, is a digital adoption platform that empowers users across web, desktop, and mobile software experiences. The company was established by Khadim Batti and Vara Kumar and has grown significantly since its inception.
Headquartered in San Jose, California, Whatfix also has offices in the UK, Germany, Australia, Singapore, and India. The platform offers in-app guidance, on-demand user support, and contextual messages to enhance user productivity and engagement.
With a dedicated team of over 500 employees, Whatfix continues to innovate and lead in the digital adoption space, helping organizations worldwide to unlock their true potential.
How Much Funding Has Whatfix Raised?
- Pre-Seed Round
- Amount Raised: $45K
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial development and operations.
- Seed Round
- Amount Raised: $900K
- Date: April 2015
- Lead Investors: Helion Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the product and expand the team.
- Convertible Note
- Amount Raised: $300K
- Date: October 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for product development.
- Series A
- Amount Raised: $3.6M
- Date: April 2017
- Lead Investors: Stellaris Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $13M
- Date: March 2019
- Lead Investors: Eight Roads Ventures India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and accelerate growth.
- Series C
- Amount Raised: $32M
- Date: February 2020
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and expand into new markets.
- Series D
- Amount Raised: $90M
- Date: June 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Approximately $600M
- Motivation Behind the Round: To support growth and expansion efforts.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2024
- Lead Investors: SoftBank Vision Fund, Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series E
- Amount Raised: $125M
- Date: September 2024
- Lead Investors: Warburg Pincus
- Valuation at Round: Approximately $900M
- Motivation Behind the Round: To expand market presence, strengthen product categories, and support strategic acquisitions.
Total Amount Raised: $264.845M. Current Valuation: Approximately $900M.
Key Investors
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm that focuses on growth investing. They have a history of guiding companies to IPOs and significant growth milestones.
- Investment Focus Areas: Technology, healthcare, financial services, consumer, industrial.
- Notable Investments: CrowdStrike, Avalara, Ant Financial.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Group, focusing on technology-driven companies. They are known for making large-scale investments in innovative sectors.
- Investment Focus Areas: AI, robotics, IoT, healthcare.
- Notable Investments: Uber, WeWork, ByteDance.
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in technology, healthcare, and consumer sectors. They have a strong presence in both early and growth-stage investments.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Alibaba, App Annie, NeoPhotonics.
- Peak XV Partners
- Details: Peak XV Partners, formerly known as Sequoia Capital India, focuses on early to growth-stage technology companies in India and Southeast Asia. They have a robust portfolio of successful startups.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Flipkart, Ola, Byju's.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm that focuses on technology and consumer sectors. They are known for backing high-growth companies.
- Investment Focus Areas: Technology, consumer.
- Notable Investments: Airbnb, DoorDash, Snowflake.
What's Next for Whatfix?
Whatfix stands at the cusp of significant opportunities, driven by its recent $125 million Series E funding. The company is poised to expand into new geographies like Southeast Asia and the Middle East, while also strengthening its product categories, including generative AI. This expansion is expected to enhance their market presence and drive substantial growth.
Future fundraising opportunities are likely as Whatfix aims to break even in the next 7-8 quarters. The company is open to inorganic acquisitions to bolster its product line, which may necessitate additional funding. However, challenges such as managing widened losses and fierce competition in the digital adoption platform market could pose hurdles along the way.
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