Whatfix, the global digital adoption platform (DAP) market leader, today announced its recently launched new product line Product Analytics, which enables organizations to track, visualize, and analyze user engagement and behavior data with seamless instrumentation ensuring no-code event tracking and data consistency. While previously, product analytics was built for software vendors, Whatfix extends this capability to software buyers as well. Since its launch, in the last two quarters, Product Analytics has seen approximately 200% quarter-on-quarter (QoQ) revenue growth and has been adopted by 100+ customers including large enterprises like Cisco and UPS.
Whatfix Product Analytics, empowers software owners to independently implement end-to-end analytics from tracking to insights, eliminating engineering dependency. This product caters to both customer- and employee-facing applications, including custom-built applications and third-party applications such as Salesforce, and Oracle, assisting software owners with feature prioritization, process optimization, UX improvement, growth, and identifying cohorts for real-time feedback.
“Enterprises are pressed from multiple directions, as the digital skills gap and pressures to show ROI on digital investments will be serious challenges they face in 2023. Whatfix developed Product Analytics to help enterprises gain competitive advantage by creating better software experiences, a more proficient workforce, and optimized digital operations,” said Khadim Batti, Whatfix CEO and Co-founder.
In 2022 Whatfix made several notable achievements:
Accelerated Growth and Expansion
Whatfix added ten new Fortune 500 customers in 2022, taking the count to 71, including Aramark, Autozone, Avnet, Becton Dickinson, Cardinal Health, Cisco, Genuine Parts Company, Microsoft, Sanofi and UPS Supply Chain Solutions. Several Global 2000 customers and large enterprises such as Arrow Electronics, British Telecom, Checkout.com, Dormakaba, Infosys BPM, Marks & Spencer, Olam, Sime Darby Berhad, and ZoomCar also chose Whatfix as their Digital Adoption platform.
“When we were looking to change our DAP vendor, we wanted to see if it could do everything our previous DAP did, and Whatfix could! On top of that, the support was the selling point. We really needed a closer partnership when we were looking to change our DAP platform. Whatfix over delivered. There’s amazing feedback from the users, as well as the business,” said Ben Kanspedos, Senior Instructional Designer at Intuit.
Whatfix registered a top decile year-on-year (YoY) Annual Recurring Revenue (ARR) growth rate of 65% for 2022. The company also maintained its best-in-class Net Revenue Retention (NRR) for Enterprise Customers at 127% for 2022, which means their existing customers expanded rapidly during the year. The average revenue per account increased by 32%, and 40% of accounts saw expansion. Whatfix also opened a new office in Sydney, Australia, extending its presence in the APAC region.
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