Software-as-a-service (SaaS)-based digital adoption platform, Whatfix made its second acquisition on Tuesday and acquired learning management system Nittio Learn.
The company’s acquisition comes just two months after the startup raised $90 million as a part of its Series D round led by Softbank Vision Fund 2, at a valuation of nearing $600 million.
The acquisition will help Whatfix introduce newer technology-based learning tools for its enterprise customers, furthering its platform capabilities to drive digital adoption in these companies. It will also integrate Nittio Learn’s learning management solution with its product.
Eight-year-old Nittio Learn’s toolset, including additional content options, assessment capabilities, and training course allocation – will work as an extension to Whatfix’s product offerings.
At present, Whatfix collaborates with enterprises to design interactive walkthroughs to help employees better understand and adopt software solutions deployed within the organisation faster. Through its suite of products it helps employees automate processes and helps employers get analytics on utilisation of different software solutions by employees.
“Nittio Learn works with learning and development teams and provides newer toolsets to assess the digital adoption capabilities of users. It also provides tech-led presentations to help digital adoptions in enterprises faster and is an organic extension of what Whatfix does,” said Khadim Batti, chief executive officer and co-founder of Whatfix.
As a part of the acquisition, Whatfix will be taking Nittio Learn’s solution to its international clientele. It will also be absorbing Nittio Learn’s 10-member team, along with the founders to its 500 member workforce.
Whatfix currently has 500 members enterprise customers across key geographies of the US, Europe and Asia-Pacific.
At present, US contributes to almost 70% of Whatfix’s revenues, followed by Europe (20%) and Asia-Pacific filling in the rest. With covid pushing digital adoption with enterprise, Whatfix has added close to 130 customers in 2020 alone.
In the next two years, Whatfix will be scaling Nittio’s platform to 100 of its customers.
“We’re excited to add Nittio Learn’s value proposition to Whatfix’s industry-leading digital adoption solution. Nittio Learn has been helping Learning and Development teams build learning experiences that reduce training turn-around and ramp-up time for today’s digital workers. Whatfix, with their laser focus on helping customers overcome technology complexities is a perfect match for our product and our team,” said Gagandeep Josan, chief executive officer and co-founder, Nittio Learn.
In the next 12 months, Whatfix will also add another 150 employees across its product, engineering and ‘go-to-market functions. It also plans to expand its operations and target new customers across Japan, the Nordics in Europe.
