Private Equity Fund Investments
Digital adoption SaaS firm WhatFix raises $90-M led by Softbank
Bengaluru-based software-as-a-service (SaaS) startup WhatFix, which helps businesses increase user adoption of applications they use, has raised USD 90 million in a round led by SoftBank's Vision Fund 2. Other investors in the round included Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments. The round has taken the company's total fundraising to USD 139.8 million. Its valuation has jumped 3x in the past 15 months. WhatFix, which is now valued at nearly USD 600 million, will deploy the capital towards growing its market in the US and expansion into new markets including the Asia Pacific and Europe. The company will also invest the amount in product innovation focusing on artificial intelligence (AI), enterprise solutions, and providing personalized experiences.
From the Venture Intelligence PE-VC Deal Database: From Apr-15 to Feb-20, WhatFix had raised nearly $50-M from Dragoneer Investment Group, Sequoia Capital India, Eight Roads Ventures, Cisco, Stellaris Ventures, Helion Ventures, Powerhouse Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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