SaaS-based platform Whatfix raises USD 12.5 Mn in Series B

SaaS-based platform Whatfix has picked up Rs 92 crore (USD 12.5 million) in a Series B funding led by Eight Roads Venture India. F-Prime Capital, Cisco Investments, existing investors Stellaris Venture Partners and Helion Ventures Partners participated in the round. The proceeds will be used for R&D and expansion to newer markets.

Founded by Khadim Batti and Vara Kumar in April 2013, Whatfix provides in-app guidance and performance support for web applications and software products. It has offices in California and Bengaluru.

The impressive client base of Whatfix includes Wipro Limited, BMC Software Inc, Lazada, Infosys Finacle, iCertis, etc. Whatfix also helps companies create interactive walkthroughs within web applications.

Shweta Bhatia, partner at Eight Roads Ventures, told ET, “Enterprises want faster payback on their software investments and quick adoption is key to that. Whatfix has a compelling offering, vision and management team to transform the way software applications are used in business. We look forward to using our global network and enterprise SaaS expertise to support Whatfix as it continues to innovate on product and expand its enterprise customer base.”

In April, 2015, Whatfix raised USD 1 million in seed funding led by US-based venture capital firm Powerhouse Ventures, startup accelerator GSF and other Silicon Valley-based angel investors. In April, 2017, it raised USD 3.7 million in Series A led by Stellaris Venture Partners, with participation from existing investors Helion Venture Partners and Powerhouse Ventures.

Khadim Batti, CEO and co-founder of Whatfix, told Inc42 that this round of funding will take them a step closer to their vision in providing businesses with a next-gen performance support solution.

The startup claims 70% of its users are based in the US, followed by 20% in Europe, and the remaining 10% are from around the globe, including India. “In the last 12 months, we have grown 4x and we plan on generating revenue at 3x growth for the calendar year 2019,” Batti told Inc42.

Whatfix’s competitors include Israeli Unicorn WalkMe, AppCues and Iridize. It earns USD 3.6 million in revenue annually, according to Crunchbase.