Whatfix rolls out $58M liquidity event for employees and investors
Through its ESOP buyback, Whatfix will enable eligible current and former employees to sell a portion of their vested shares.
SaaS major has announced its fourth liquidity programme worth $58 million. The Bengaluru-based company has offered an ESOP (employee stock ownership programme) buyback for employees and a secondary sale for investors at a premium over the previous Series D round valuation.
"This programme reflects our commitment to both business growth and recognising those who have been integral to our success. We’re fostering a culture of ownership and innovation by offering employees and investors to share in our growth,” said Khadim Batti, CEO and Co-founder of Whatfix, in a statement.
Eligible current and former employees have been given the opportunity to sell a portion of their vested shares.
Whatfix, which offers a Digital Adoption Platform (DAP) as per company requirements, recently secured $125 million in a Series E funding round led by , with participation from existing investor SoftBank Vision Fund 2. This investment was achieved at a valuation premium of over 50%, said the company. It marked SoftBank’s second deal in over two years, both involving existing portfolio companies.
The company has been listed as the top DAP by Deloitte Technology Fast 500 for three consecutive years, it noted. It counts over 700 enterprises as its clients, including Cisco, Arrow Electronics, Schneider Electric, Genuine Parts Company, and Becton Dickinson, among others.
Whatfix was last valued at $568 million in 2021 after raising $90 million in its Series D funding round led by , along with participating investors , Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital, , and others.
Shortly thereafter, the company launched its first ESOP buyback programme worth $4.3 million.
Edited by Kanishk Singh
