Whatfix
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| Company type | Private |
|---|---|
| Industry | Internet |
| Founded | 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 |
Whatfix is an Indian SaaS (Software-as-a-Service) company, headquartered in San Jose, California, United States and Bengaluru, Karnataka, India. It offers GenAI-driven product suite that supports the application lifecycle, from ideation to training and deployment. The suite includes the Digital Adoption Platform (DAP), which provides in-app guidance for web, desktop, and mobile applications; Product Analytics, a no-code tool for tracking user behavior and adoption; and Mirror, which enables simulated application environments for hands-on training. Whatfix has been included in several analyst reports, such as the 2024 Everest Group Digital Adoption Platform PEAK Matrix®, where it was listed as a Leader and Star Performer, and the 2024 IDC MarketScape: Worldwide DAP Vendor Assessment. Additionally, it was named a Customers’ Choice in the 2024 Gartner® Voice of the Customer Report and was recognized in Forrester’s 2022 New Wave™: Digital Adoption Platforms report.
The company operates from seven offices across the US, India, UK, Germany, Singapore, and Australia. As of 2024, Whatfix serves over 700 customers globally, including more than 80 Fortune 500 companies.
History
[edit]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.[1] 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.[2]
In October 2019, Whatfix acquired AI platform Airim.[3] They acquired the learning management system Nittio Learn in August 2021 and the mobile assistance platform Leap.is in April 2022.[4][5]
Funding
[edit]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.[6]
- 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%.[7]
In July 2021, Whatfix implemented an Employee Stock Ownership Plan (ESOP) buyback of $4.3 million (₹320,000,000) for its employees.[8] In October 2024, the company announced a $58 million (₹485 crores) liquidity event, providing liquidity to its employees and early investors.[9]
Product
[edit]Whatfix’s core product is its Digital Adoption Platform (DAP), which provides contextual in-app guidance across web, desktop, and mobile applications. In 2022, Whatfix expanded its offerings with Product Analytics, allowing organizations to track user adoption and engagement. In 2024, the company introduced Mirror, an application simulation tool designed for interactive, risk-free employee training.
Whatfix products support enterprises across the application lifecycle, from ideation (Product Analytics) to training (Mirror) to deployment and adoption (DAP). The company has integrated generative AI throughout its products to create an adaptive experience layer for users. Ongoing innovations include AI agents designed to interact with user interfaces in human-like ways.
References
[edit]- ^ "Tech startups such as Nowfloats, Whatfix and Zoho eye potential of local SMEs". The Economic Times. 2015-04-28. Retrieved 2017-09-07.
- ^ www.ETtech.com. "Enterprise focused Whatfix onboards MakeMyTrip investor Vispi Daver - ETtech". ETtech.com. Retrieved 2018-02-27.
- ^ Newsdesk, HrNxt (2019-11-01). "Tech Startup Whatfix Acquires AI Platform Airim". hrnxt.com. Retrieved 2020-04-01.
- ^ Newsdesk, AIT (2021-08-10). "Whatfix Closes Nittio Learn Acquisition During Record Quarter In Q2, 2021". aithority.com/. Retrieved 2021-08-10.
- ^ "Whatfix acquires Leap to expand mobile capabilities". The Economic Times. Retrieved 29 October 2022.
- ^ Sawers, Paul (2021-06-08). "Whatfix secures $90M to power contextual guidance in enterprise apps". VentureBeat. Retrieved 2024-10-24.
- ^ Wiggers, Kyle (2024-09-25). "Whatfix raises a whopping $125M for its in-app user guides". TechCrunch. Retrieved 2024-10-24.
- ^ Shah, Sneha (2021-07-06). "Whatfix unveils its first-ever Esop buyback scheme". economictimes.indiatimes.com/. Retrieved 2021-07-06.
- ^ "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.
- "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.