SAN JOSE, CA, Leading digital adoption platform, has raised $12.5 million in Series B funding, led by Eight Roads Ventures India.
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Whatfix, a leading digital adoption platform, has raised $12.5 million in Series B funding. Eight Roads Ventures India led the round with participation from its U.S.-based sister fund F-Prime Capital and Cisco Investments. Existing investors, Stellaris Venture Partners, and Helion Ventures Partners, also participated in the round.
Whatfix plans to use the capital to create digital adoption category leadership in the enterprise application software market and continue its expansion into the US and global markets. Whatfix will also grow their marketing, sales, research and development teams in the US and India and continue to deliver innovation to its existing Fortune 1000 customers worldwide.
As per Whatfix's estimates, the digital adoption for enterprise application software is a US$ 8B market and is growing rapidly. Over the last year, Whatfix saw its customer base grow by more than 400 percent adding customers such as Cardinal Health Canada, CNA Financial Corporation, BMC Software Inc., Sophos Group Plc, ManpowerGroup NL, and many more . Whatfix also has a strong partnership base globally with companies such as Wipro Limited, Infosys Finacle, iCertis, Bullhorn Inc., and plans to grow this further.
Today, digital transformation is one of the most important strategies on the boardroom agenda for enterprises, with its success depending heavily on how well users adopt and adapt to these digital technologies. Whatfix disrupts the way application support and training is delivered to end-users of enterprise applications by providing contextual and real-time guidance. Whatfix's digital adoption platform layers on top of web-based applications to deliver continuous on-demand training and proactive support. Enterprises get assured returns on their technology investments when employees know exactly how to leverage software applications in their day-to-day work.
"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," Khadim Batti, co-founder and CEO, Whatfix, said. " Whatfix is already the simplest and the most effective platform for delivering an engaging and superior employee experience."
"Enterprises want faster payback on their software investments and quick adoption is key to that," said Shweta Bhatia, Partner, Eight Roads Ventures. "Whatfix has a compelling offering, vision, and management team to transform the way software applications are used in business. We look forward to using our global network and enterprise SaaS expertise to support Whatfix as it continues to innovate on product and expand its enterprise customer base."
"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.
Whatfix is a leading digital adoption platform that helps companies deliver modern and easy onboarding, effective training and self-service support to users through contextual content displayed at the time of need. Whatfix helps companies simplify their users' adoption journey through targeted information, all the while gathering insights that can be used to drive more effective software use.
About Eight Roads Ventures
Eight Roads is the proprietary investment arm of FIL, Fidelity International Limited. Eight Roads Ventures invests in high-quality, high-growth companies in Asia, Europe and the US, with a focus on healthcare, technology, and consumer products. Eight Roads Ventures is committed to making the companies it invests in leaders in their industries through access to patient capital, a powerful network of resources and a team of investment professionals with a proven track record of success. Eight Roads Ventures' investments in India and Southeast Asia include Icertis, Manthan, Pharmeasy, Chaipoint, Toppr, Shadowfax, Northern Arc, Akulaku, Early Salary, Laurus Labs and Cipla Health.
About F-Prime Capital Partners
F-Prime Capital Partners is a global venture capital firm investing in life sciences, healthcare, and technology. Since 1969, F-Prime has worked closely with entrepreneurs and academics to create innovative solutions to some of the world's most significant challenges in healthcare and technology.