Sequoia India leads $32m Series C round in SaaS-based platform Whatfix

The Sequoia Capital Logo is displayed on an iPhone screen. Photo: DEALSTREETASIA

Whatfix, a SaaS-based platform that provides in-app guidance and performance support, has raised $32 million in Series C funding round led by Sequoia Capital India, according to an announcement.

Existing investors including Eight Roads Ventures, F-Prime Capital, and Cisco Investments also participated in this round.

The company said that it will use the fresh fund to drive product development and to address the growing demands for digital adoption solutions by accelerating the company’s expansion into markets such as Europe and Australia.

The firm plans to further invest in product innovation with enhanced functionalities that unify the employee experience and digital journey across desktop, mobile and web applications; simplify enterprise-wide search across fragmented content repositories; and increase user productivity via workflow automation, personalization and BOT based data entry.

Whatfix, 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, San Francisco, Bangalore, London and Melbourne, claims that it has over 500 global customers such as Automation Anywhere, Experian, Grifols, REG Services Group, Reed Specialist Recruitment, Sentry Financial Services.

“Whatfix has been instrumental in shaping the DAS category by innovating products aimed at democratizing adoption and efficient use of software products. Khadim and Vara have taken a customer-first approach, a reflection of their deep understanding and empathy for the end-users. Sequoia India is stoked to be joining them in this category creation journey,” said Tejeshwi Sharma, Principal, Sequoia Capital India LLP.

With this investment, Whatfix now joins Sequoia Capital India’s venture-backed family of tier-one enterprise SaaS players that are already embraced in enterprise tech stacks.

Last March, Whatfix 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.

Sequoia has been looking more actively at SaaS startups. It had first invested in Freshdesk (now Freshworks) in 2016, valuing it at $700 million. Freshworks, which reached a valuation of $3.5 billion last month, provides customer support, management and IT services to enterprises.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.