Whatfix (see Pulse 2.0 profile), a leader among digital adoption platforms (DAPs), announced it had secured $125 Million in a Series E funding round led by Warburg Pincus, with participation from existing investor SoftBank Vision Fund 2. And the company is raising the new round at a significant premium, reinforcing its dominance as the leader in Digital Adoption Platforms (DAPs) and expanding into DAP adjacent offerings.
This funding will enable Whatfix to expand its category leadership and enhance its integrated product suite through organic growth and strategic acquisitions. And the company also aims to expand its market presence in the US, EMEA, and APAC regions to strengthen its footprint in the global public sector.
Since launching in 2021, Whatfix has achieved remarkable growth, solidifying its position as a leader in the newly established DAP category. And the company serves a marquee global clientele, including Arrow Electronics, Schneider Electric, and Avnet, along with partners like Microsoft, Salesforce, Infosys, and Accenture. Supporting 80+ Fortune 500 companies, Whatfix registered top-decile performance with a 4.5 times increase in annual recurring revenue (ARR) since its 2021 round, with new products contributing 15% of revenue.
integrating GenAI throughout its product suite, offering digital adoption, product analytics, and application simulation, Whatfix accelerates a user-first approach, building an experience layer across the enterprise software stack. And this enables enterprises to maximize technology ROI while allowing employees to build greater efficiency.
Whatfix has been contributing to the industry by developing 4,100+ DAP experts since 2021 and remains committed to cultivating more in the years to come.
KEY QUOTES:
“Enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences. Whatfix’s innovation is evident through the launch of four new products since 2021, securing five US patents with 18 more in the pipeline. This investment will add more fuel to the tank, accelerating a new era of innovation for our industry, bolstering the unparalleled value we bring to our customers, and reshaping the future of software adoption.”
-Khadim Batti, CEO and co-founder of Whatfix
“As organizations rapidly adopt an evolving array of AI-enabled technologies, Digital Adoption Platforms (DAPs) have become essential for successfully navigating digital transformation. DAPs provide valuable insights, empower users to be more agile, and drive significant business outcomes by accelerating application adoption and optimizing workflows. DAPs will evolve to address a broader range of enterprise needs, including AI-specific challenges, solidifying their role as a preferred approach to maximizing software ROI. By 2027, IDC predicts that 80% of G1000 organizations will rely on DAPs to mitigate technical skills shortages.”
-Amy Loomis, Research Vice President, Future of Work at IDC
“Whatfix’s unique digital adoption platform is revolutionizing how organizations implement digital transformation programs, create outstanding user experiences, and empower users to fully leverage software functionalities and enhance productivity. As a partner of choice for top global enterprises across industries, we believe Whatfix has immense potential to capitalize on the tailwinds and solidify its position in the high-growth DAP market. We are delighted to partner with the Whatfix team led by Khadim and Vara, as they steer the company towards its vision and goal.”
-Narendra Ostawal, Managing Director, Head of India Private Equity, Warburg Pincus
“Since our initial investment in 2021, we are pleased to see Whatfix’s strong growth and sustained innovation. Their role in the digital transformation journeys of Fortune 500 companies is a testament to their customer focus. We are excited to continue backing Khadim and Vara as they enter their next phase of growth.”
-Narendra Rathi, Investment Director, from SoftBank Investment Advisers
“From day one, Whatfix has truly put us, the customer, first. Their digital adoption platform (DAP) has been instrumental in the CERTUS digital transformation journey, simplifying complex processes and empowering our teams to achieve more. What’s truly remarkable is their exceptional customer support—they’ve been helpful, and genuinely nice and supportive every step of the way.”
-Jochen Heidner, Project Manager of Purchasing Systems at Mercedes-Benz and Whatfix customer for the CERTUS CC project
“Software is more user-centric than ever, and Whatfix is at the forefront of this innovation in user enablement. With Whatfix, you can tailor applications to each user’s workflow, optimize efficiency and create great outcomes. By using Whatfix’s AI-powered product suite—including application simulation, analytics, and digital adoption—our clients can better leverage both their existing and new technology investments. With the capabilities of Whatfix, we’re able to build products where the software serves the user, not the other way around. We look forward to our continued success together.”
-Adam P. Burden, Global Innovation Lead from Accenture LLP
