SaaS-based digital adoption solution provider Whatfix on Wednesday said it has raised $125 million in a Series E round of funding led by Warburg Pincus.
The round, which also saw participation from existing investor SoftBank Vision Fund 2, will enable Whatfix to expand its category leadership and enhance its integrated product suite through organic growth and strategic acquisitions.
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.
Whatfix had last raised $90 million in its Series D funding round in June 2021 led by SoftBank Vision Fund 2, with participation from Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital, and Cisco Investments.
Powered by GenAI, Whatfix’s product suite includes a digital adoption platform (DAP), simulated application environments for hands-on training, and no-code application analytics. It services over 700 enterprises, including Shell, Microsoft, Schneider Electric, UPS Supply Chain Solutions, and Genuine Parts Company.
“As organisations rapidly adopt an evolving array of AI-enabled technologies, DAPs have become essential for successfully navigating digital transformation,” said Amy Loomis, Research Vice President of Future of Work at IDC. By 2027, IDC predicts that 80% of G1000 organisations will rely on DAPs to mitigate technical skills shortages.
Warburg Pincus’s other investments in India include boAt, Appasamy Associates, Biba, Kalyan Jewellers, MedPlus, and SBI General Insurance.
Whatfix’s $125-million funding comes amid an uptick in big-ticket transactions, according to proprietary data compiled byDealStreetAsia.
Four megadeals (classified as those over $100 million in size) were recorded in August with quick e-commerce major Zepto, non-banking financial company DMI Finance, baby products retailer FirstCry, and budget hotel chain OYO raising funding.
In comparison, two megadeals were sealed in July, four in June, and six in May.
