On Tuesday, a learning management startup, Nitto Learn was acquired by Whatfix, which is a Software-as-a-service (SaaS)-based digital adoption platform. This deal is considered to be the second acquisition performed by Whatfix.
Whatfix has paid an amount of $600 million to acquire Nitto. Even just two months ago, Softbank Vision Fund 2 led the Series D round of the startup, where it raised a fund of about $90 million.
Whatfix is a platform that helps enterprises to accelerate digital adoption in their companies, and this acquisition will empower it to serve the enterprise customers with new technology-based learning tools, including the learning management solutions of Nitto learn.
Whatfix’s product portfolio will have new additions of additional content options, training course allocation, and assessment capabilities offered by Nitto.
To let the employees of an organization efficiently learn the newly deployed software solutions, interactive guides are developed by Whatfix in collaboration with the enterprises. Its products also provide employers with analytics about how effectively the software solutions are being used by their employees.
According to the chief executive officer and co-founder of Whatfix, Khadim Batti, the newer toolsets developed by Nitto will be used to evaluate the users’ capabilities to adopt a digital solution.
The 10 members team Nitto will get access to the international clients of Whatfix. Currently, the client portfolio of Whatfix is located across the US, Asia-Pacific, and Europe. With an addition of 130 customers in 2020, the customer count of the company has reached 500.
70% of Whatfix’s revenue comes from the US, while 20% from Europe, and only 10% from the Asia Pacific region.
According to Nitto Learn’s chief executive officer and co-founder, Gagandeep Josan, the cooperation of Learning and Development teams has allowed them to help reduce the learning time for digital workers.
Whatfix is expected to hire 150 new employees in the next 12 months and will explore new opportunities in Japan, the Nordics in Europe.