raised $125 million in a Series E funding round led by private equity firm with participation by existing investor .
The San Jose, California-based startup is what鈥檚 called a digital adoption platform, or DAP 鈥� a software application that helps users learn how to use other software products more easily. Large organizations frequently deploy such platforms to help their employees more effectively and productively use technology tools.
The new round comes at a reported valuation of around $900 million 鈥� 50% higher than its Series D valuation in a SoftBank Vision Fund 2-led round in 2021.
鈥淓nterprises are grappling with the complexities of digital transformation and the ever-increasing pressure to deliver exceptional user experiences,鈥� Whatfix CEO and co-founder said in a statement. 鈥淲hatfix’s innovation is evident through the launch of four new products since 2021, securing five US patents with 18 more in the pipeline. 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.鈥�
The company says it counts , and among its customers and has partnered with , 1, and , among others. The company says its ARR has increased 4.5x since its 2021 funding round.
Whatfix has now from investors, according to Crunchbase.
Whatfix鈥檚 funding comes just a few weeks after Israel-based competitor 鈥檚 acquisition by for $1.5 billion was .
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