Total amount raised
$264.8 Million
Latest funding date
9/1/2024
Location
Whatfix has successfully raised funding over 9 rounds, with the latest being a Series E round involving investors like Warburg Pincus. The company offers a GenAI-powered platform that provides in-app guidance, simulated training, and application analytics to enhance digital tool usage.
Keep reading to explore the intricacies of Whatfix's fundraising journey and the investors backing this innovative platform.
What Is Whatfix?
Whatfix, based in Bengaluru, Karnataka, India, operates in the enterprise applications, information technology, and training industries. The company employs between 501 and 1000 people.
Founded by Khadim Batti and Vara Kumar, Whatfix offers a GenAI-powered platform that provides in-app guidance, simulated training, and application analytics. The platform is designed to enhance user adoption and productivity across various sectors, including banking, education, and healthcare.
With offices in the US, UK, Germany, Australia, Singapore, and India, Whatfix continues to expand its global footprint, driving digital transformation and user experience enhancement through its innovative solutions.
How Much Funding Has Whatfix Raised?
- Pre-Seed
- Amount Raised: USD 45,000
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial development and operations.
- Convertible Note
- Amount Raised: USD 300,000
- Date: October 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional capital for early-stage growth and product development.
- Seed
- Amount Raised: USD 900,000
- Date: April 2015
- Lead Investors: Helion Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: USD 3,600,000
- Date: April 2017
- Lead Investors: Stellaris Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the product offering.
- Series B
- Amount Raised: USD 13,000,000
- Date: March 2019
- Lead Investors: Eight Roads Ventures India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in technology advancements.
- Series C
- Amount Raised: USD 32,000,000
- Date: February 2020
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance product capabilities.
- Series D
- Amount Raised: USD 90,000,000
- Date: June 2021
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Approximately USD 600,000,000
- Motivation Behind the Round: To support growth and expansion into new markets.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: September 2024
- Lead Investors: SoftBank Vision Fund, Warburg Pincus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and support strategic growth initiatives.
- Series E
- Amount Raised: USD 125,000,000
- Date: September 2024
- Lead Investors: Warburg Pincus, SoftBank Vision Fund
- Valuation at Round: Approximately USD 900,000,000
- Motivation Behind the Round: To expand market presence, strengthen product categories, and support strategic acquisitions.
Total Amount Raised: USD 264,845,000. Current Valuation: Approximately USD 900,000,000.
Key Investors
- Warburg Pincus
- Details: Warburg Pincus is a global private equity firm focused on growth investing. The firm has more than $60 billion in private equity assets under management.
- Investment Focus Areas: Technology, healthcare, financial services, energy, consumer.
- Notable Investments: Ant Financial, CrowdStrike, Avalara.
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a venture capital fund managed by SoftBank Group, focusing on technology-driven companies. The fund aims to invest in companies poised to lead the next wave of innovation.
- Investment Focus Areas: Artificial intelligence, robotics, IoT, telecommunications.
- Notable Investments: ByteDance, Uber, WeWork.
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in technology and healthcare companies. The firm has a strong presence in Asia, Europe, and the US.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Alibaba, App Annie, Neo4j.
- Sequoia Capital India
- Details: Sequoia Capital India is a venture capital firm that invests in early and growth-stage companies in India and Southeast Asia. The firm is known for its strategic support and extensive network.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Zomato, BYJU'S, OYO Rooms.
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is an investment firm that focuses on long-term investments in technology and growth companies. The firm is known for its patient capital approach.
- Investment Focus Areas: Technology, growth companies.
- Notable Investments: Airbnb, Spotify, Uber.
What's Next for Whatfix?
Whatfix stands at the cusp of significant opportunities, driven by its recent $125 million Series E funding. The company plans to expand its market presence in the US, EMEA, and APAC regions, leveraging the growing demand for digital adoption platforms. With a valuation of approximately $900 million, Whatfix is well-positioned to capitalize on the increasing interest in generative AI products and digital transformation tools.
Future fundraising opportunities appear promising, especially with the potential for an IPO in the next two years. The involvement of major investors like Warburg Pincus and SoftBank Vision Fund 2 suggests continued financial backing for strategic acquisitions and product development. However, Whatfix will need to navigate challenges such as intense competition, rapid technological advancements, and the complexities of scaling operations globally.
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