SaaS-based digital adoption platform provider Whatfix has secured nearly $100 million in a new funding round, marking its first in three years. The round was led by Sweet Nectar Investments, a Warburg Pincus affiliate, alongside existing investor SoftBank.

According to regulatory filings, Whatfix raised Rs 296.74 crore in primary capital by issuing 13,201 Series E compulsory convertible preference shares at Rs 2,24,788.44 each. Additionally, Rs 530 crore was raised through secondary funding.

Warburg Pincus contributed Rs 615 crore (Rs 271.7 crore primary and Rs 343.2 crore secondary), while SoftBank added Rs 210.5 crore (Rs 25 crore primary and Rs 185.5 crore secondary). Whatfix plans to use the primary funds for business expansion.

Post-funding, Sweet Nectar Investments holds an 8.94% stake, while SoftBank increased its ownership to 15.51%. The Bengaluru-based company’s valuation stands at around Rs 6,871 crore ($820-830 million), according to TheKredible. Prior to this, Whatfix had raised over $140 million.

Founded by Khadim Batti and Vara Kumar, Whatfix provides in-app guidance for web applications, helping organizations improve employee efficiency. The company posted a 65.7% growth in revenue, reaching Rs 285 crore in FY23, with 61% of its earnings generated from the U.S. market. Losses for FY23 increased to Rs 328 crore, and the company has yet to disclose its FY24 figures.