Whatfix, a global leader among digital adoption platforms (DAPs), is announcing the completion of its Series E funding round, having secured $125 million. The funding round—led by Warburg Pincus with participation from existing investor SoftBank Vision Fund 2—will propel Whatfix’s leadership in the DAP space as well as enhance its integrated product suite through organic growth, expansion of its market presence, and strategic acquisitions, according to the company.
The power of Whatfix lies within its approach to application technology, culminating in the process of “userization,” which dictates that software must adapt to the needs and behaviors of users, as opposed to forcing users to adapt to software. Amplified by generative AI (GenAI), Whatfix’s DAP helps enterprises build an experience layer across their software stack, serving to maximize both ROI and employee efficiency.
“By empowering companies to maximize the ROI of digital investments across the application lifecycle, Whatfix’s innovation and customer-centricity shine through as a ‘leader’ across analyst reports on digital adoption platforms (DAP)—its core product and the category of employee experience,” said Vara Kumar, co-founder and head of R&D and solutions, Whatfix. “[Whatfix] enables organizations to drive user productivity, ensure process compliance, and improve the user experience of employee and customer-facing applications.”
Through the company’s product suite—which includes a digital adoption platform, Mirror, an application simulation software for hands-on training, and Product Analytics, a no-code application analytics solution—and its user-first approach, Whatfix aims to empower enterprises to unlock “their true potential across all software experiences—web, desktop, and mobile,” according Kumar.
“Whatfix’s unique digital adoption platform is revolutionizing how organizations implement digital transformation programs, create outstanding user experiences, and empower users to fully leverage software functionalities and enhance productivity,” said Narendra Ostawal, managing director, head of India private equity, Warburg Pincus. “As a partner of choice for top global enterprises across industries, we believe Whatfix has immense potential to capitalize on the tailwinds and solidify its position in the high-growth DAP market.”
The importance of DAPs in driving proprietary modernization is recognized by Gartner, as, according to its 2023 Market Guide, Gartner predicts that 70% of organizations are projected to use DAPs by 2025.
"As organizations rapidly adopt an evolving array of AI-enabled technologies, Digital Adoption Platforms (DAPs) have become essential for successfully navigating digital transformation," said Amy Loomis, research vice president, future of work at IDC. "DAPs provide valuable insights, empower 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, solidifying their role as a preferred approach to maximizing software ROI. By 2027, IDC predicts that 80% of G1000 organizations will rely on DAPs to mitigate technical skills shortages."
At the head of this revolution, Whatfix has been the top DAP on Deloitte Tech Fast 500 for three consecutive years and is consistently recognized as a market leader in DAP reports from Gartner, Forrester, IDC, and the Everest Group, according to Whatfix.
“Whatfix is the only Digital Adoption Platforms vendor to receive ‘Customer’s Choice’ in the Gartner Peer Insights 2024 Voice of Customers for DAP report. In fact, its 50% product roadmap is built in collaboration with the customers,” said Kumar. “Today, Whatfix is the largest pure-play DAP globally, and the only DAP vendor innovating beyond DAP. With this funding, Whatfix will double down on its two differentiators—its unmatched customer centricity and its rapid innovation.”
Whatfix serves a robust list of globally distributed clientele, including Arrow Electronics, Schneider Electric, Avnet, and more than 800 Fortune 500 companies, along with partners such as Microsoft, Salesforce, Infosys, and Accenture.
To learn more about Whatfix, please visit https://whatfix.com/.