Whatfix raises $125Mn to expand digital adoption platform
CALIFORNIA, UNITED STATES — Software-as-a-Service (SaaS) firm Whatfix announced a $125 million Series E funding round led by Warburg Pincus, with participation from existing investor SoftBank Vision Fund 2.
This investment marks a significant milestone for the company, reinforcing its position in the DAP market and creating opportunities for expansion into adjacent offerings.
Rapid growth and innovation in digital adoption
Since its last funding round in 2021, Whatfix has experienced remarkable growth, with a 4.5x increase in annual recurring revenue (ARR). The company now serves over 80 Fortune 500 companies, including Arrow Electronics, Schneider Electric, and Avnet, alongside partnerships with tech giants like Microsoft, Salesforce, Infosys, Accenture.
“Enterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences,” said Khadim Batti, CEO and co-founder of Whatfix.
“This investment will add more fuel to the tank, accelerating a new era of innovation for our industry, bolstering the unparalleled value we bring to our customers, and reshaping the future of software adoption.”
Expanding global presence and product offerings
The new funding will enable Whatfix to:
- Expand its market presence in the U.S., EMEA, and APAC regions
- Strengthen its footprint in the global public sector
- Enhance its integrated product suite through organic growth and strategic acquisitions
Since 2021, Whatfix has launched four new products and secured five U.S. patents, with 18 more in the pipeline. The company operates from seven offices worldwide and supports over 700 enterprises.
The growing importance of digital adoption platforms
As organizations grapple with digital transformation challenges, DAPs have become increasingly crucial. Gartner’s 2023 Market Guide projects that 70% of organizations will use DAPs by 2025.
“DAPs will evolve to address a broader range of enterprise needs, including AI-specific challenges, solidifying their role as a preferred approach to maximizing software ROI,” noted Amy Loomis, IDC’s Research Vice President for the Future of Work.
“By 2027, IDC predicts that 80% of G1000 organizations will rely on DAPs to mitigate technical skills shortages.”
Whatfix’s unique approach to digital adoption
Whatfix is pioneering the concept of “Userization,” which shifts responsibility to technology, ensuring it adapts to users rather than the other way around.
By integrating GenAI throughout its product suite, Whatfix accelerates this user-first approach, building an experience layer across the enterprise software stack.
Industry recognition and future outlook
Whatfix has been recognized as a market leader in DAP reports from Gartner, Forrester, IDC, and the Everest Group. The company has also been the top DAP on Deloitte Tech Fast 500™ for three consecutive years.
As the demand for DAPs continues to grow, Whatfix is well-positioned to capitalize on the market opportunity and drive innovation in digital adoption.
