What to fix raised $125 million in a Series E funding round led by a private equity firm Warburg’s Pincus with the participation of the current investor SoftBank Vision Fund 2.
The San Jose, Calif.-based startup is a so-called digital adoption platform, or DAP — a software application that helps users find out how to use other software products more easily. Large organizations often implement such platforms to help their employees use technology tools more effectively and efficiently.
The recent funding round is valued at roughly $900 million, 50% higher than the Series D valuation led by SoftBank Vision Fund 2 in 2021.
“Enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences,” said CEO and co-founder Whatfix Khadim Batti said in a statement. “Whatfix’s innovation is evident with four new products launched since 2021, five U.S. patents secured, and 18 more in the pipeline. This investment will add fuel to the tank, accelerating a new era of innovation for our industry, reinforcing the unparalleled value we bring to our customers, and changing the future of software adoption.”
The company says it matters Arrow electronics, Schneider Electric AND Avnet among its clients and established cooperation with Microsoft, Sale 1, Infosys AND Accentamong other things. The company says its ARR has increased 4.5x since its 2021 funding round.
Whatfix now has $328 million raised from investors, according to Crunchbase.
Whatfix’s funding comes just weeks after an Israeli competitor Go to WalkMetakeover by SAP for 1.5 billion dollars finalized.