Whatfix, a SaaS-based platform which provides in-app guidance and performance support, has raised $12.5 million (Rs 92 crore) in a Series B funding round led by Eight Roads Ventures, the proprietary investment arm Fidelity International Ltd.
The Series B round also saw participation from F Prime Capital, the US-based sister fund of Eight Roads Ventures, Cisco Investments, and existing backers Stellaris Venture Partners and Helion Venture Partners, the company said in a statement.
Whatfix, owned by Quicko TechnoSoft Labs Pvt. Ltd, will use the funding proceeds to expand into newer global markets and to grow its research, marketing, and sales teams in the US and India.
Whatfix, which was founded by Khadim Batti and Vara Kumar in April 2013, provides product adoption, user onboarding, employee training, self-service support and performance support for companies using enterprise web applications. The platform allows SaaS application users to create interactive walkthroughs, or in-app guidance flows, that can lead users through a task on the application.
The company, which is based in San Jose, California and Bengaluru, claims that its customer base has grown by more than 400 per cent with the addition of clients such as Wipro, BMC Software, Lazada, Infosys Finacle, iCertis, and others.
“Soon, there will be widespread automation with AI and machine learning changing the way we work. However, employees will need digital expertise to leverage these technologies to effectively elevate productivity,” Khadim, CEO of Whatfix, said.
In April 2017, the company had raised $3.5 million in Series A funding led by Stellaris Venture Partners with participation from Helion Venture Partners and Powerhouse Ventures. Angel investors Gokul Rajaram, Girish Mathrubootham, Aneesh Reddy, and Vispi Daver had also participated in the round.