Quicko Technosoft raises funds from Stellaris, others
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New Delhi: Bengaluru-based Quicko Technosoft Labs Pvt. Ltd, that helps companies create interactive text bubbles and ‘how-to’ guides on websites and apps through its product Whatfix, has raised Rs24 crore in series A funding led by Stellaris Venture Partners.
Existing investors Helion Venture Partners and Powerhouse Ventures, along with independent investors Gokul Rajaram, Girish Mathrubootham, Aneesh Reddy and Vispi Daver, also participated in the round.
Alok Goyal, a partner at Stellaris Venture, has joined the board of directors of Quicko Technosoft, the company said in a statement on Tuesday.
The company plans to use the funds for research and development and marketing the product in overseas markets, especially the US, which constitutes 60% of its client base. Whatfix is used by Hewlett-Packard, Booking.com (The Priceline Group), Flipkart, Myntra and Schneider Electric, among 100-odd clients from 20 countries.
The company aims to triple the enterprise customer base over the next 12 months.
Launched in April 2013, Whatfix is used by enterprises to help their users navigate websites and applications that in turn helps the companies reduce support queries and improve user engagement.
It is also used for internal training of employees on new applications. “User onboarding, training and support are challenges faced by pretty much all enterprises who spend $500 billion plus on software every year. Whatfix’s product is a quantum leap improvement to the current approach of user help through static articles and manuals,” Goyal from Stellaris Venture said in a statement.
Using Whatfix, businesses can create information snippets for different elements on their web properties. It displays a text bubble when the user hovers the curser over a link or a button, displaying information on what the link (or that particular feature) does.
Besides text bubbles, clients can create walk-throughs in multiple formats, including articles, slideshows, and videos. The company charges its client an annual subscription to use Whatfix.
“We are one of the top contenders in this space, serving enterprises and businesses alike to reduce their training and support efforts. This round of funding will take us a step closer to our vision in providing businesses with a next-gen performance support solution,” Khadim Batti, chief executive officer at Quicko Technosoft, said in a statement.
Quicko Technosoft was started in June 2010 by Batti and Vara Kumar, two former employees of Chinese telecommunication firm Huawei Technologies. The company has offices in Bengaluru and California in the US.
Its first product was SearchEnabler, a search engine optimization tool launched in 2010. But it was withdrawn around 2013 due to lack of user traction.
In April 2015, the company raised Rs5.5 crore in a seed round from Helion Venture and Powerhouse Ventures, primarily to fund the development of Whatfix.