- Whatfix, a leader in Digital Adoption Solutions, announced it has raised $32 million in Series C funding led by Sequoia Capital India
Whatfix, a leader in Digital Adoption Solutions, announced it has raised $32 million in Series C funding. Sequoia Capital India led the round, with participation from existing investors Eight Roads Ventures. With this round of funding, Whatfix plans to drive product development and to address the growing demands for DAS by accelerating the company’s expansion into markets such as Europe and Australia.
“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-personalized guidance,” said Khadim Batti, CEO and Co-Founder at Whatfix. “Personalized in-app guidance, automation, and quick discovery will help enterprises and their workers be more productive and reduce cognitive overload.”
Launched in 2014, Whatfix’s Digital Adoption Platform (DAP) was created to help enterprises drive digital adoption, realize user productivity, and elevate user experience across enterprise applications. And Whatfix plans to further invest in product innovation with enhanced functionalities that unify the employee experience and digital journey across desktop, mobile and web applications, simplify enterprise-wide search across fragmented content repositories, and increase user productivity via workflow automation, personalization and BOT based data entry.
“This latest funding will help us to expand our product offerings globally and continue to help enterprises realize the full value of their digitization effort,” added Vara Kumar, Co-Founder and CTO at Whatfix. “Whatfix will continue to hire across all functions and geographies and provide the leading digital adoption platform that enables clients to drive adoption across applications, browsers and devices; is easy to deploy; has the most open ecosystem and is truly secure.”
Enterprises are spending billions of dollars on various enterprise applications and employee training, but industry research shows that 85% of business executives are challenged with user adoption of new technologies. While a typical enterprise uses more than 300 cloud applications, not all of them are used to their full potential, further proving that DAS is pertinent to the success of an enterprise’s digital transformation initiatives and the transforming landscape of the workplace.
“Our journey with Whatfix has been a true partnership. We continue to work together to find ways to improve the experience of our customers using Whatfix’s versatile software. They continue to put us, their customers, first so that we are able to focus on our business – putting our customers first,” Elliott Tucker, B2B eCommerce Process Lead/Business Architect at HP.
Whatfix is now joining Sequoia Capital India’s venture-backed portfolio of tier-one enterprise SaaS players that are already embraced in enterprise tech stacks.
“Software is penetrating the deepest crevices of enterprise workflows at an unprecedented pace. Enterprise software spend is $450B+ globally growing 9% y-o-y. A new category of Digital Adoption Solutions (DAS) is fast emerging to ensure user adoption keeps pace with software purchase,” explained Tejeshwi Sharma, Principal at Sequoia Capital India LLP. “Whatfix has been instrumental in shaping the DAS category by innovating products aimed at democratizing adoption and efficient use of software products. Khadim and Vara have taken a customer-first approach, a reflection of their deep understanding and empathy for the end-users. Sequoia India is stoked to be joining them in this category creation journey,” he added.
Gartner Research pointed out that Digital Adoption Solutions are used for improving the adoption of multiple tools across the organization. And the software walks a user through business processes across multiple products along with providing consistent user experience, eliminating in some cases manual entry.
“It supplies visually clear paths to complete tasks. It enables sellers to be onboarded faster and improve productivity. Sales is a key use case but this technology can apply to other areas in an organization as well as to external products sold by an organization,” noted Melissa Hilbert, Sr. Director Analyst, in the Gartner “Increase Sales Productivity With Digital Adoption Solutions” in an article published on May 21, 2019.
Julie Hiipakka, Learning Research Leader at Bersin, Deloitte Consulting LLP, recently published a report citing some of the best features in the Whatfix Digital Adoption Platform.
“The Whatfix Digital Adoption Platform is designed to provide personalized training for workers within web applications. The solution delivers learning content in various formats, and it includes real-time guidance. It can also integrate with an organization’s learning management system (LMS) to create interactive training programs,” stated Julie Hiipakka, Learning Research Leader at Bersin, Deloitte Consulting LLP in a recent report called “Learning in The Flow of Work Solutions” (published November 2019).
Whatfix currently has 230 employees across 6 global offices. And Whatfix has over 500 global customers, including Automation Anywhere, Experian, Grifols, REG Services Group, Reed Specialist Recruitment, Sentry Financial Services, Cardinal Health Canada, DaVita Healthcare, and BMC Software.
“Whatfix’s digital adoption platform is quickly establishing itself as an important pillar to accelerate user adoption of technology stacks of leading global enterprises,” commented Shweta Bhatia, Partner at Eight Roads Ventures. “We are proud to be their partner and are excited to see how Whatfix continues to bring innovative new solutions to revolutionize software adoption and the future of work.”