Whatfix, a Bengaluru-based provider of SaaS-based digital adoption solutions, has successfully raised approximately $100 million in a funding round led by Sweet Nectar Investments (Warburg Pincus) and SoftBank. This is the company’s first funding round in the past three years, demonstrating significant investor confidence in its growth and product offerings.
According to regulatory filings with the Registrar of Companies, Whatfix’s board of directors approved a special resolution to issue 13,201 Series E compulsory convertible preference shares (CCPS) at an issue price of Rs 2,24,788.44 per share. This issuance has raised Rs 296.74 crore in primary capital. Additionally, the funding round included secondary financing amounting to nearly Rs 530 crore. The infusion of primary capital will be utilized to drive Whatfix’s business expansion and development initiatives.
The funding round saw contributions from existing investor SoftBank, which invested Rs 210.5 crore—Rs 25 crore in primary capital and Rs 185.5 crore in secondary funding. Sweet Nectar Investments (Warburg Pincus) led the round with a total investment of Rs 615 crore, split into Rs 271.7 crore in primary capital and Rs 343.2 crore in secondary funding. The secondary funding was executed at the same issue price, although the transaction could have been conducted at a discounted rate, potentially lowering the overall amount raised.
About Whatfix
Founded in 2013 by Khadim Batti and Vara Kumar, Whatfix is a digital adoption platform (DAP) that helps organizations and users make the most of their software investments. By providing data-driven insights and user-friendly onboarding processes, Whatfix aims to enhance software adoption, streamline workflows, and improve overall productivity for its clients.
