SoftBank-backed Whatfix lays off 6% of workforce

Responding to Entrackr’s queries, a company spokesperson said, “Whatfix undertook a strategic realignment to sharpen its focus on long-term, sustainable, and efficient growth in a rapidly changing market. As part of this shift, approximately 6% of our current headcount was impacted, including around 4% in our GTM (go-to market) teams, to better align our go-to-market with the strong traction we are seeing in our AI-first product lines”.

“These decisions are never easy, and we remain committed to handling the transition with care and empathy for our colleagues. We will continue to support impacted team members and ensure uninterrupted excellence for our customers,” the spokesperson added.

Founded by Khadim Batti and Vara Kumar, Whatfix provides in-app guidance and performance support for web applications and software products. Its tools are used by large companies to drive efficiency.

In September last year, the company raised $125 million in a Series E round led by Warburg Pincus, with participation from existing investor SoftBank Vision Fund 2. After the funding, Whatfix launched a $58 million liquidity programme for employees and investors, marking its fourth ESOP buyback.

While Whatfix has yet to disclose its FY25 numbers, the company’s revenue from operations grew 49% to Rs 424.58 crore in FY24 from Rs 284.74 crore in FY23. It also reduced its losses by 20% to Rs 262.63 crore in FY24. The US emerged as Whatfix’s largest revenue contributor and accounted for 72.13% of its total revenue.