Whatfix, a SaaS startup that allows enterprises to create interactive help guides on their websites, has raised INR 24 crore (US$3.7 million) in Series A round of funding, led by Indian VC firm Stellaris Venture Partners, with participation from existing investors Helion Venture Partners and Powerhouse Ventures.
Marquee angels, including Gokul Rajaram (Product Engineering Lead at Square), Girish Mathrubootham (Freshdesk CEO), Aneesh Reddy (Capillary Technologies CEO) and US-based investor Vispi Daver, have also joined the round.
The Bangalore-based startup will use the newly-raised investment to strengthen its R&D and aggressively grow its presence overseas, especially in the US which constitutes 60 per cent of its existing customers. It also looks to triple its enterprise customer base over the next 12 months.
Commenting on the funding, Khadim Batti, Co-founder and CEO of Whatfix said: “At Whatfix, we are building a solution that provides just-in-time contextual help for any web application. 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 nextgen performance support solution.”
The Series A funding follows on a good year for Whatfix, which claims to have seen a substantial 8x growth. Its clients include Fortune 500 enterprises, including HP, AAA, Booking.com (The Priceline Group), NASA, CNA Financial and Wyndham Worldwide.
“User onboarding, training and support are challenges faced by pretty much all enterprises, who spend over US$500 billion on software every year. Whatfix’s product is a quantum leap improvement to the current approach of user help through static articles and manuals,” said Alok Goyal, Partner at Stellaris, who joins the Whatfix Board.
Launched in 2013 by Batti and Vara Kumar, Whatfix’s platform is built with real-time interactive guidance technology at its core. It allows businesses and individuals to create support for frequently-asked questions (FAQs), training material and interactive tutorials, which can be integrated across all user touch-points inside web applications. Whatfix aims to solve three critical needs of a business — onboard users to increase conversions and engagement, provide better support to reduce churn, and effective training for employees and customers
Co-founder and CTO Kumar added: “The biggest advantage of Whatfix is that it accelerates adoption of enterprise softwares like CRM, ERP, ITSM and others. Our main focus is on enhancing the product capability to further reduce decision complexity for users. To achieve this, we are channeling the development efforts for predicting user behaviour to improve help contextualisation.”
Whatfix previously raised under US$900,000 in seed funding from Helion Venture Partners. Prior to that, it had received US$300,000 in funding from Hanwha Group.
Image Credit: Whatfix
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