Whatfix

Whatfix

Company type	Private
Industry	Internet
Founded	2014;11 years ago (2014)
Headquarters	San Jose, California and Bengaluru, India
Key people	Khadim Batti (CEO), Vara Kumar (Head of R&D and Solutions)
Number of employees	500-1000
Website	whatfix.com

Whatfix is an Indian SaaS-based digital adoption platform that provides in-app guidance, training, and performance support for web applications and software products. ^[1] The company is headquartered in San Jose, California, United States and Bengaluru, Karnataka, India.

History

Whatfix was co-founded by Khadim Batti and Vara Kumar, the service was initially developed as a search and social media engagement platform for small businesses. ^[2] In 2014, the company eventually pivoted to an interactive guidance platform for businesses, and was named Whatfix.

In January 2018, the company announced that veteran Silicon Valley investor Vispi Daver had moved from the board of the company and joined the executive team. ^[3]

In October 2019, Whatfix acquired AI platform Airim. ^[4] They acquired the learning management system Nittio Learn in August 2021 and the mobile assistance platform Leap.is in April 2022. ^{[5] [6]}

In February 2023, Whatfix launched its product analytics tool for user behavior and event tracking. In February 2024, it launched Whatfix Mirror, an AI simulation and roleplay software for hands-on employee training.

Funding

Whatfix has raised a total of $264.2 million in multiple rounds of funding.

• In April 2015, Whatfix raised $1 million in seed funding led by Powerhouse Ventures, GSF Accelerator, and several angel investors. In 2017, the company raised $3.7 million in Series A funding from Helion Ventures.
• In 2019, Whatfix secured $12.5 million in its Series B round.
• In February 2020, the company raised $32 million in its Series C round.
• In June 2021, Whatfix raised $90 million in Series D funding, led by SoftBank Vision Fund 2. ^[7]
• In September 2024, Whatfix secured $125 million in its Series E round of funding, led by Warburg Pincus with participation from SoftBank Vision Fund 2, increasing its valuation by over 50%. ^[8]

In July 2021, Whatfix implemented an Employee Stock Ownership Plan (ESOP) buyback of $4.3 million (₹ 320,000,000) for its employees. ^[9] In October 2024, the company announced a $58 million (₹485 crores) liquidity event, providing liquidity to its employees and early investors. ^[10]

Product

Whatfix focuses on software adoption, user onboarding, employee training, and performance support for enterprise web, desktop, and mobile applications. ^[11] In 2023, the company launched its new product analytics line. ^[12] In 2024, it launched its system simulation and AI roleplay training platform.

Whatfix is ISO 27001:2013 certified, ^[13] SCORM 1.2 and DITA compliant, ^[14] and SOC 2 certified. ^[15]

References

1. Costea, Ramona. "Whatfix is Now Available in the Oracle Cloud Marketplace". Archived from the original on 2017-09-08. Retrieved 2017-09-06.
2. "Tech startups such as Nowfloats, Whatfix and Zoho eye potential of local SMEs". The Economic Times. 2015-04-28. Retrieved 2017-09-07.
3. www.ETtech.com. "Enterprise focused Whatfix onboards MakeMyTrip investor Vispi Daver - ETtech". ETtech.com. Retrieved 2018-02-27.
4. Newsdesk, HrNxt (2019-11-01). "Tech Startup Whatfix Acquires AI Platform Airim". hrnxt.com. Retrieved 2020-04-01.
5. Newsdesk, AIT (2021-08-10). "Whatfix Closes Nittio Learn Acquisition During Record Quarter In Q2, 2021". aithority.com/. Retrieved 2021-08-10.
6. "Whatfix acquires Leap to expand mobile capabilities". The Economic Times. Retrieved 29 October 2022.
7. Sawers, Paul (2021-06-08). "Whatfix secures $90M to power contextual guidance in enterprise apps". VentureBeat. Retrieved 2024-10-24.
8. Wiggers, Kyle (2024-09-25). "Whatfix raises a whopping $125M for its in-app user guides". TechCrunch. Retrieved 2024-10-24.
9. Shah, Sneha (2021-07-06). "Whatfix unveils its first-ever Esop buyback scheme". economictimes.indiatimes.com/. Retrieved 2021-07-06.
10. "SaaS firm Whatfix rolls out $58 million buyback programme for employees, investors". The Economic Times. 2024-10-07. ISSN   0013-0389 . Retrieved 2024-10-24.
11. "How Whatfix Grew To 200+ Customers With Its Performance Support Platform". inc42.com. Retrieved 2017-09-07.
12. "Whatfix Launches Product Analytics, Building on 2022 Success".
13. GmbH, finanzen.net. "Whatfix Receives ISO3 Certification Demonstrating Highest Information Security Standards". markets.businessinsider.com. Retrieved 2017-11-13.
14. "Whatfix Launches World's First SCORM-compliant In-app Guidance Tool". Learning Solutions Magazine. Retrieved 2017-09-07.
15. "Whatfix Completes SOC 2 Certification". PR.com. Retrieved 2018-02-27.

• "Eight Roads Ventures leads funding in software engagement firm Whatfix". VCCircle. 2019-03-12. Retrieved 2019-03-12.
• Gooptu, Biswarup (March 12, 2019). "Eight Roads Ventures leads Rs 92 crore Series B funding round in Whatfix". ETtech.com. Archived from the original on 2020-08-09. Retrieved 2019-03-12.