Today has been a busy day for HR tech investment. Hot on the heels of Danish Eloomi raising $55 million, digital transformation-focused Whatfix has closed a $90 million Series D round.
This brings Whatfix’s total funding to $140 million and its valuation to $600 million, according to TechCrunch.
The Series D investment was led by SoftBank’s Vision Fund 2. Other investors who participated in the round include Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, and Cisco Investments.
Whatfix helps companies to adopt the right digital solutions, as well as supporting employees with how to make the best use of the workplace tech available. This includes using AI to personalize the experience; the automation is provided by Airim, which Whatfix acquired in 2019.
As a result of this Series D, Whatfix aims to continue innovating its products and adding new offerings to its platform.
In a blog post, CEO and co-founder Khadim Batti explains that product R&D will focus on “AI, enterprise solutions and curating personalized customer experiences”.
“It will also help us strengthen our product portfolio organically and inorganically—with the ultimate aim to deliver value at every turn for every user.”
Further to this, Whatfix has ambitions to continue to grow its global team, which is currently based between the US, Europe, Asia, and Oceania.
This Series D investment comes on the back of a productive few years for Whatfix. The company claims to have attracted a total of 500 customers, including the Manpower Group, Experian, and Cisco, and has grown its revenue by 200% over the past two years.
It has also had some success during the pandemic because that forced companies to focus more on “digital transformation and business continuity [meaning] the ability to personalize experiences and contextualize guidance is becoming increasingly valuable. The new funding comes at the right inflection point and has brought us closer to realizing our vision at Whatfix,” writes Batti.
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