Sequoia Capital leads $32 million funding round in SaaS company Whatfix, Technology News, ETtech

Illustration: Rahul Awasthi
Illustration: Rahul Awasthi

Sequoia Capital India has led a $32 million (about Rs 229 crore) funding spherical in digital adoption options supplier Whatfix, the San Jose-headquartered firm stated on Wednesday.

The six-year-old firm’s present set of traders — Eight Roads Ventures, the proprietary funding arm of Constancy Worldwide, F-Prime Capital, the US-based sister fund of Eight Roads Ventures and Cisco Investments — additionally participated within the Sequence C spherical.

The newest fairness financing comes rather less than a yr after Eight Roads Ventures led a Rs 92 crore spherical within the Software program as a Service firm. Whatfix, based in 2014, will use the cash for product improvement and to increase into geographies similar to Europe and Australia, it stated in an announcement.

“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 focused 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,” stated Khadim Batti, chief govt of Whatfix.

Based by Batti and Vara Kumar, Whatfix is current in Bengaluru, San Francisco, London and Melbourne. The corporate helps enterprises ship straightforward onboarding, coaching and self-service assist.

It additionally claims to extend worker productiveness by 35%, scale back coaching time and prices by 60%, lower worker case tickets by 50% and improve utility information accuracy by 20%.

“Software is penetrating the deepest crevices of enterprise workflows at an unprecedented pace. Enterprise software spend is $450 billion-plus globally growing 9% year-over-year. A new category of DAS is fast emerging to ensure user adoption keeps pace with software purchase,” said Tejeshwi Sharma, principal at Sequoia Capital India.

Whatfix reportedly raised $3.6 million in its Series A round led by Stellaris Venture Partners in April 2017. Prior to that, it had raised Rs 5.5 crore in its seed funding round, led by Helion Venture Partners, Powerhouse Ventures and GSF, according to media reports.

The company counts notable entrepreneurs as investors and advisors among its ranks, including Freshworks founder and CEO Girish Mathrubootham.

“Whatfix’s digital adoption platform is quickly establishing itself as an important pillar to accelerate user adoption of technology stacks of leading global enterprises,” stated Shweta Bhatia, companion at Eight Roads Ventures.

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