B2B digital adoption solutions provider, Whatfix has introduced its first employee stock ownership plan or ESOP buyback scheme worth $4.3 million. All present and former employees will have the choice to liquidate as much as 35% of their vested ESOPs beneath the buyback.
According to the company, eligible employees will be able to avail the value of shares at the series D, non-discounted valuation of the company.
The development comes within a month of a SoftBank-led $90 million Series D round raised by the Bengaluru-based company.
Whatfix will join the likes of over a dozen startups that also bought back or allotted ESOPs to their employees in 2021. The list includes Browserstack, Razorpay, Sharechat, CRED, Acko, FarEye, Udaan, Wakefit, Cashify, Zetwerk, Wakefit and GoMechanic.
Founded by Khadim Batti and Vara Kumar, Whatfix provides in-app guidance and performance support for web applications and software products. It offers tools that large companies and organizations integrate into their own apps to help guide the workforce in using them more efficiently.