Whatfix secures funding from Warburg Pincus, SoftBank at $900 mn valuation

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Subscribe to enjoy similar stories. MUMBAI : Whatfix, a business-to-business digital adoption platform, is on track to achieve profitability within the next six months as it prepares for a possible public listing in two years, its co-founder and chief executive Khadim Batti said on Wednesday. The company, which helps enterprises onboard and train employees through software solutions, aims to hit a $100 million revenue run rate over the next 12 months, Batti said.

“We are working towards turning profitable over the next two quarters," Batti said in an interview with Mint. Whatfix has secured $125 million in Series E funding, led by Warburg Pincus, which values the company at $900 million. Existing backer SoftBank Vision Fund 2 also participated in the roun Read this | Carlyle looks to build $400 million vehicle for auto parts deal in India The company's roster of backers includes Dragoneer, Peak XV Partners, Eight Roads, and Cisco Investments.

In 2021, SoftBank Vision Fund 2 led a $100 million financing round, which at the time valued the company at approximately $600 million. According to Batti, around $58 million of the recent funding was a secondary sale, allowing early investors and angel backers to sell their stakes, while the remaining $67 million will be used to fuel the company’s expansion into Southeast Asia and the West Asia. This will be in addition to the company’s growing presence in its existing markets such as the US and Europe, he added.