DAP Provider Whatfix Secures $125 Million, Fosters User-First, ROI-Maximizing Experiences

What correctiona global leader in digital adoption platforms (DAPs), announced that it has closed its Series E financing round, securing $125 million. According to the company, the financing round, led by Warburg Pincus and with participation from existing investor SoftBank Vision Fund 2, will advance Whatfix’s leadership in the DAP space, as well as enhance its integrated product suite through organic growth, expansion of market presence, and strategic acquisitions.

Whatfix’s strength lies in its approach to application technology, culminating in a process of “userification,” where software should adapt to users’ needs and behaviors rather than forcing users to adapt to the software. Powered by Generative AI (GenAI), Whatfix’s DAP helps businesses build an experience layer into their software stack, serving to maximize both ROI and employee productivity.

“By enabling companies to maximize the ROI of digital investments across the application lifecycle, Whatfix’s innovation and customer centricity has distinguished it as a ‘leader’ in analyst reports on digital adoption platforms (DAPs). These platforms are its core product and employee experience category,” said Vara Kumar, co-founder and head of R&D and solutions at Whatfix. “(Whatfix) enables organizations to increase user productivity, ensure process compliance, and improve the user experience of employee and customer-facing applications.”

Through the company’s product suite (which includes): digital adoption platform, Mirroran application simulation software for hands-on training and Product AnalyticsWhatfix, a no-code app analytics solution, and its user-centric approach aims to enable businesses to unlock their “true potential across all software experiences — web, desktop and mobile,” according to Kumar.

“Whatfix’s unique digital adoption platform is fundamentally changing the way organisations execute digital transformation programmes, create exceptional user experiences and enable users to fully leverage software functionality and increase productivity,” said Narendra Ostawal, managing director and head of private equity, Warburg Pincus, India. “As a preferred partner of top global enterprises across industries, we believe Whatfix has tremendous potential to capitalise on the positive tailwinds and solidify its position in the high-growth DAP market.”

Gartner recognizes the importance of DAPs in driving proprietary modernization, as Gartner predicts that 70% of organizations will be using DAPs by 2025, according to its 2023 Market Guide.

“As organizations embrace a rapidly evolving set of AI-enabled technologies, Digital Adoption Platforms (DAPs) have become essential to successfully managing digital transformation,” said Amy Loomis, vice president of future of work research at IDC. “DAPs provide valuable insights, enable users to be more agile, and drive significant business outcomes by accelerating application adoption and optimizing workflows. DAPs will evolve to address a broader range of enterprise needs, including AI-specific challenges, and solidify their role as a preferred approach for maximizing software ROI. IDC predicts that by 2027, 80% of G1000 organizations will rely on DAPs to reduce technical skills gaps.”

Leading the way in this revolution, Whatfix has been named the best DAP in the Deloitte Tech Fast 500 for three consecutive years and is consistently recognized as the market leader in DAP reports from Gartner, Forrester, IDC and Everest Group, according to Whatfix.

“Whatfix is ​​the only Digital Adoption Platforms vendor to receive the ‘Customer’s Choice’ award from Gartner Peer Insights 2024 Customer Voice for DAP “The report. In fact, 50% of the product roadmap is built in collaboration with customers,” Kumar said. “Today, Whatfix is ​​the largest pure DAP globally and the only DAP vendor that innovates beyond DAP. With this funding, Whatfix will focus more on its two differentiators: its unmatched customer centricity and rapid innovation.”

Whatfix serves a strong list of globally distributed customers including Arrow Electronics, Schneider Electric, Avnet and over 800 Fortune 500 companies, along with partners such as Microsoft, Salesforce, Infosys and Accenture.

To learn more about Whatfix, please visit: https://whatfix.com/.