Saas company Whatfix has raised $125 Million in a Series E funding round, led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2. After this round, the company is valued at around $900 million.
The company plans to use the proceeds from the primary deal for acquisitions, double down on existing products, GenAI use-cases and expand its presence in the US, EMEA and APAC regions.
“By integrating GenAI across platforms, Whatfix aims to further the concept of “Userization,” ensuring technology adapts to users. We also plan on expanding into DAP-adjacent offerings, introducing more GenAI-powered features to create smarter applications and elevate user experience,” said Vara Kumar Namburu - Co-founder & Head of R&D and Solutions, Whatfix.
Founded in 2014, Whatfix offers services including a digital adoption platform, simulated application environments for hands-on training, and no-code application analytics to help organisations drive user productivity.
Whatfix is said to be on an annual recurring revenue (ARR) of $75 million. “In a couple of quarters, we will cross $100 million ARR,” he added.
For an acquisition, he said,”We are always open to growing inorganically if we find a good match to accelerate our product pipeline.”
The company serves a marquee global clientele, including Arrow Electronics, Schneider Electric, and Avnet, along with partners like Microsoft, Salesforce, Infosys, and Accenture.