Digital adoption solutions (DAS) provider Whatfix on Tuesday said it has raised $90 million in Series D funding led by SoftBank Vision Fund 2. The company said it plans to use the funds to continue growing its stronghold in the US market while accelerating global expansion into new markets such as Asia Pacific and Europe.
Whatfix has now raised $139.8 million to date, increasing its valuation three times in the past 15 months. The latest funding round also saw participation from Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments, the company said in a statement.
"This latest round of funding strengthens our position as market leaders as we plan to expand our offerings globally and continue to provide excellent customer service to businesses who look to us to guide them through their digital transformation initiatives," said Khadim Batti, CEO and co-founder, Whatfix.
Whatfix said it will invest the funds in product innovation focusing on artificial intelligence (AI), enterprise solutions, and providing personalised experiences. The company currently has 500 employees across six global offices.
"Whatfix makes it easier for companies to use SaaS products, which increases productivity. Whatfix, with its roster of global clients, is well placed to become a DAS leader, and we are excited to be part of their journey," said Munish Varma, Managing Partner, SoftBank Investment Advisers.
"Enterprises spend billions on applications across multiple functions and yet employee adoption is low. Quick adoption ensures payback on software investments. Whatfix's solutions will be a key driver for enterprises to achieve this goal, which is reflected in their growth," added Sumer Juneja, Partner, SoftBank Investment Advisers.