US-based software support platform developer Whatfix has secured $12.5m in a series B round that included Cisco Investments, a corporate venturing subsidiary of networking equipment producer Cisco.
Eight Roads Ventures India, a subsidiary of investment and financial services group Fidelity, led the round, which also featured fellow Fidelity unit F-Prime Capital, venture capital firm Stellaris Venture Partners and VC fund Helion Venture Partners.
Founded in India in 2013, Whatfix has developed a digital adoption platform that helps medium-sized and large companies simplify the process of helping customers onboard and learn how to use their software, through on-demand training, education and support.
The product sits on top of web-based applications to provide a step-by-step guide that helps employees understand how the new software can be integrated into their existing tasks. Whatfix will put the cash toward international growth and the addition of new sales, marketing, research and development staff.
Sameer Garde, president of India for Cisco, said: “Accelerating user adoption is a key element of customer experience management, a focus area for Cisco.
“Whatfix is helping lead a market shift to a new, data-driven approach to user adoption. The Whatfix team is an example of the significant enterprise-tech talent in India, and we are excited to support them in their global journey.”
Stellaris Venture Partners led Whatfix’s $3.7m series A round in 2017, investing alongside Helion, Powerhouse Ventures and several private investors.
Helion led the company’s $900,000 seed round two years earlier, investing together with GSF Accelerator and Powerhouse Ventures. It had already collected $300,000 in funding from conglomerate Hanwha Group in 2014.