US-based digital adoption technology provider Whatfix raised $32m on Wednesday in a series C round that included Cisco Investments, networking technology producer Cisco’s corporate venture capital unit.
The round was led by VC firm Sequoia Capital India led the round, which also featured two subsidiaries of investment and financial services group Fidelity: Eight Roads Ventures and F-Prime Capital.
Whatfix has built a software platform that assists enterprise customers in onboarding employees and training them on the job to use specific software products. It has more than 500 customers worldwide including Experian, Reed Specialist Recruitment and Cardinal Health Canada.
Vara Kumar, Whatfix’s co-founder and chief technology officer, said: “This latest funding will help us to expand our product offerings globally and continue to help enterprises realise the full value of their digitisation effort.
“Whatfix will continue to hire across all functions and geographies and provide the leading digital adoption platform that enables clients to drive adoption across applications, browsers and devices; is easy to deploy; has the most open ecosystem and is truly secure.”
Eight Roads Ventures India led the company’s $12.5m series B round in March 2019, participating together with Cisco Investments, F-Prime Capital, Stellaris Venture Partners and Helion Venture Partners.
Diversified conglomerate Hanwha Group invested $300,000 in Whatfix in 2014 before the company added $4.9m from Stellaris Venture Partners, Powerhouse Ventures, Helion Venture Partners, GSF Accelerator and Powerhouse Ventures across rounds in 2015 and 2017.
