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Whatfix launches USD 58 million buyback program for employees and investors

EdTech: Corporate Learning

Oct 7, 2024

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Oct 7, 2024

Whatfix launches USD 58 million buyback program for employees and investors

Funding

Whatfix, an Indian digital adoption solutions (DAS) company, has launched a USD 58 million liquidity program for its employees and investors. This marks the company's fourth buyback of employee stock options (ESOPs).
The liquidity event allows eligible current and former employees to sell a portion of their vested shares at a premium to the previous Series D valuation. The move comes after the company's valuation increased from USD 600 million to USD 900 million during the Series D fundraising.
Analyst QuickTake : Whatfix raised USD 125 million in a Series E funding round just last month, with a focus on growth after doubling its headcount to over 960 employees and opening new offices in Singapore, Germany, Australia, and India. The company's ESOP buyback is the second largest in the Indian market in 2024, reflecting a trend among startups to reward employees while pursuing expansion initiatives.

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