Whatfix, a Bengaluru-based SaaS firm, has recently recorded a whopping $50 Million in ARR (Average Recurring Revenue), which was around $21 Million two years ago (2021).
This SaaS-based platform offers in-app guidance and performance support for software products and web applications. According to the sources, it has experienced revenue growth due to increased demand from enterprise customers. These customers sought to improve employee productivity, decrease training expenses, and save time.
A representative from Whatfix chose not to disclose the company’s real and precise ARR figures due to confidentiality reasons.
Whatfix is currently working on the advancement of its product and creating innovative large language models with AI capabilities. Moreover, the company is actively exploring opportunities to secure additional funding.
Varak Kumar, co-founder and CTO of Whatfix highlighted the remarkable impact of their auto-complete and image-recognition functionalities. These advanced features provide a seamless solution for businesses to effectively train their employees on new applications. This, too, without any engineering efforts.
As funding becomes scarce, late- and growth-stage startups shift their focus from innovation to prioritizing their existing business. This strategic move allows them to adapt to the challenges presented by reduced funding while ensuring the sustainability of their operations.