Bengaluru-based Quicko TechnoSoft Labs Pvt. Ltd, which runs a software-as-a-service platform under the Whatfix brand, has raised $3.6 million (Rs 24 crore) in a Series A round led by Stellaris Venture Partners.
Existing investors Helion Ventures and Powerhouse Ventures also participated in this round, the company said in a statement. A few angel investors, including Girish Mathrubootham, the founder of Freshdesk; Aneesh Reddy, the co-founder of Capillary Technologies; Gokul Rajaram and Vispi Daver invested as well.
Whatfix will use the funds to strengthen its research and development vertical, as well as to grow its overseas presence, especially in the US, which constitutes 60% of its existing customers.
“User on-boarding, training and support are challenges faced by pretty much all enterprises, which spend $500 billion-plus on software every year. Whatfix’s product is a quantum leap improvement to the current approach of user help through static articles and manuals,” said Alok Goyal, partner, Stellaris Venture.
The company was founded in April 2013 by Khadim Batti, an IIT-Bombay alumnus who had a stint with Huawei Technologies as the head of business intelligence department, and Vara Kumar, who was behind the business intelligence and deep packet inspection solutions at Huawei. The duo had earlier set up SearchEnabler, an on-demand software platform, providing easy and affordable search engine optimisation.
Whatfix allows businesses and individuals to create support FAQs, training material and interactive tutorials, which can be integrated across all user touch-points inside web applications. With Whatfix, enterprises enable their users to quickly adopt any software application, eliminating the time spent in referring multiple resources for help and support.
The company claims its platform has been adopted by clients such as Hewlett Packard, Booking.com, Wyndham Worldwide and US space agency NASA.
In 2015, the company had raised Rs 5.5 crore ($900,000) in a seed funding round led by Helion Venture Partners. Powerhouse Ventures, GSF and Silicon Valley-based angel investors had also participated in the round.
Whatfix joins software-as-a-service provider Zarget in raising funds. Zarget raised $6 million (Rs 40 crore) in a Series A funding round led by venture capital firm Sequoia Capital India late last year. Zarget allows companies to see where visitors are dropping off from the website by configuring multiple pages together.
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