Whatfix, a startup which helps companies adopt digital solutions said on Wednesday that it has raised a Series-C round of $32 million led by Sequoia Capital India , indicating increased investor interest in the software-as-a-service (SaaS) space.
It's existing investors--Fidelity's investment arm Eight Roads Ventures, its sister fund F Prime Capital and Cisco Investments also participated in the round.
Mint first reported on December 16 last year that Sequoia is in talks to lead a $30 million round in Whatfix, valuing it at $150 million.
With fresh funds, the company plans to expand to markets such as Australia and Europe.
Whatfix, founded by Vara Kumar Namburu and Khadim Batti in 2013, makes software adoption easier for companies. The products involve onboarding, performance support, change management and training. Its customers include beer-maker Heineken, online fashion retailer Myntra and online retailer Takealot.
"Enterprises spend billions of dollars on various enterprise applications and employee training, yet industry research shows that 85% of business executives are challenged with user adoption of new technologies," the company said in a statement.
“As the future of work evolves...mainstream employees and alternative workforce will need to be digitally savvy, stay focused on key digital activities, use BOTs to enter data and perform routine tasks, re-skill themselves by self-learning in the flow of work, and be comfortable acting on hyper-personalized guidance," said Khadim Batti, CEO and Co-Founder at Whatfix.
“Personalized in-app guidance, automation and quick discovery will help enterprises and their workers be more productive and reduce cognitive overload," he added.
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