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SaaS startup Whatfix raises $32M in Series C round led by Sequoia Capital India

Whatfix, a SaaS based platform, has raised $32 million in Series C funding round led by Sequoia Capital India.

Whatfix, a SaaS-based platform that provides in-app guidance and performance support, has raised $32 million in Series C funding round led by Sequoia Capital India, according to an announcement. 
Existing investors including Eight Roads Ventures, F-Prime Capital, and Cisco Investments also participated in this round. 
Speaking of the fundraise, Khadim Batti, Co-founder and CEO, Whatfix said, “As the future of work evolves, enterprises must invest in digital adoption now to prepare for the next wave in the digital workplace. Mainstream employees and alternative workforce will need to be digitally savvy, stay focussed on key digital activities, use BOTs to enter data and perform routine tasks, re-skill themselves by self-learning in the flow of work, and be comfortable acting on hyper-personalised guidance.”
Whatfix, founded by Khadim Batti and Vara Kumar in April 2013, provides product adoption, user onboarding, employee training, self-service support and performance support for companies using enterprise web applications. 
Speaking on the funding, Tejeshwi Sharma, Principal, Sequoia Capital India LLP, said, “Enterprise software spend is $450 billion globally growing nine percent y-o-y. A new category of digital adoption solutions is fast-emerging to ensure user adoption keeps pace with software purchase. Whatfix has been instrumental in shaping the DAS category by innovating products aimed at democratising adoption and efficient use of software products. Khadim and Vara have taken a customer-first approach, a reflection of their deep understanding and empathy for the end-users.”
The platform allows SaaS application users to create interactive walkthroughs, or in-app guidance flows, that can lead users through a task on the application. At present, Whatfix has 230 employees across its six global offices includes San Jose, San Francisco, Bangalore, London and Melbourne,  It has over 500 global customers, including Automation Anywhere, Experian, Grifols, REG Services Group, Reed Specialist Recruitment, Sentry Financial Services, Cardinal Health Canada, DaVita Healthcare, and BMC Software Inc., among others. 
With this investment, Whatfix now joins Sequoia Capital India’s venture-backed family of tier-one enterprise SaaS players that are already embraced in enterprise tech stacks. Last March, Whatfix raised $12.5 million (Rs 92 crore) in a Series B funding round led by Eight Roads Ventures, the proprietary investment arm Fidelity International Ltd. Sequoia has been looking more actively at SaaS startups. It had first invested in Freshdesk (now Freshworks) in 2016, valuing it at $700 million. Freshworks, which reached a valuation of $3.5 billion last month, provides customer support, management and IT services to enterprises. 

-Authored by Ayush Sharma (Content Developer, Startup-Monk)


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CIN- U74999DL2019PTC347107