Whatfix Raises $90m Series D

Whatfix, a digital adoption platform, closes a whopping round to solve 'SaaS fatigue' and change management.

June 9, 2021

Spend per company on SaaS products is up 50% over the last 3 years and we're seeing a new wave of SaaS adoption challenges as a result.

A small company (<100 ppl) deploys an average of 100 apps, while enterprises (1,000+ ppl) deploy 300+ apps.It's logical for companies to capture productivity gains through SaaS investment but the number of products used per org is unsustainable.

As competition in SaaS heats up, we see more robust free offerings.

The result? Companies use free apps 3x more than paid apps.The consequence? Customers churn through more than 30% of their SaaS apps every year.

The constant rotation of apps within a company is an overlooked drag on employee productivity and we're starting to see 'SaaS fatigue' impact company's ability to drive adoption on digital transformation initiatives.SaaS vendors like WalkMe and Whatfix exist to solve these change management challenges and we've seen Salesforce launch Learning Paths as a way to deliver in-platform learning & guides.

The trend is likely to continue until we see dramatic consolidation in the SaaS market or companies become better at measuring the ROI of SaaS spend while factoring in the switching cost of churning through dozens of apps annually, forcing employees to adopt new tools in their workflows.

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