Whatfix raises $90 million in funding led by SoftBank Vision Fund 2

Whatfix, a digital adoption solutions platform, on Tuesday announced that it has raised $90 million in Series D funding led by SoftBank Vision Fund 2. Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments also participated in the round.

Whatfix’s total fund count now stands at $139.8 million. The company claims that its valuation has increased by as much as three times in the past 15 months. The latest investment values the company at about $600 million, significantly higher than $150 million it was valued at during its previous funding round closed about a year ago, CEO & co-founder Khadim Batti said in an interview to local media.

The company plans to use the funding to continue strengthening its growth in the US while accelerating global expansion into new markets such as Asia Pacific and Europe. In addition, Whatfix will invest the funds in product innovation focusing on artificial intelligence (AI), enterprise solutions, and providing personalised experiences, the company said in a statement.

Whatfix said that the firm’s revenue and headcount tripled in the past two years. The US-headquartered company that runs an office in Bengaluru currently has 500 employees across six global offices.

The company has 500 global customers comprising more than 100 Fortune 1000 brands, including The Netherlands Red Cross, Experian, Sentry Financial Services, Cardinal Health Canada, BMC Software, Bausch & Lomb among others.