Bangalore based online startup Whatfix has secured $300,000 (Rs 1.8 Crore) of funding from South Korean Hanwha Group. The funding came as prize money for winner of startup demo competition DreamPlus Day 2014 held in Seoul, Korea. India's Whatfix bested 11 other startups from around the region to claim the US$300,000 prize money.
DreamPlus Alliance is a group composed of 10 accelerators and incubators across Asia region including India's GSF, Vietnam's Egg Accelerator who came together for a two-day event formed by Korean conglomerate and organizer of the event - Hanwha Group - to "strengthen the Asian startup ecosystem".
Founded in 2010, Whatfix is a platform where product teams can collaborate to create interactive guides & integrate them inside as well as outside applications. Whatfix enhances self-serving capability of any web based products & applications.
[caption id="attachment_95245" align="aligncenter" width="700"]
Co-founders of Whatfix with Hanwha Group CEO Kim Yong Wook[/caption]Whatfix was competing against the likes of China's web portal startup Neonan, Korea's messaging tool Pyra, and twelve others who came from countries such as Vietnam, China, Thailand and Taiwan.
Whatfix is GSF Global Accelerator portfolio company and got funding from GSF in June this year. They have also been supported by Intuit that has made space and infrastructure available to them to operate out of.
Whatfix was founded by two ex-Huawei employees - Khadim Batti and Varakumar. Kahid first product he launched was an SEO Optimizer called 'SearchEnabler' from where he got an idea of conceptualizing Whatfix. He along with Varakumar found that when they packaged their suggestions as guides, the site visibility of their clients improved and therefore a product based around the creation of guides was created and Whatfix came into existence.
With Whatfix self-service can be enhanced by more than 25%, whereas via support pages it can increase by 10-15%, average cost of handling a query to a company being around $5, whatfix can help save from 10s of thousands for small biz to millions of dollars for enterprises.
The Bangalore startup has already succeeded in tying up with a number of customers including FlipKart, the cloud-based HR & payroll software company GreyTip, the medical practice management system makers Praxify and the French Université d'Angers.
Watfix is looking forward to ramp up its sales, engineering & UX by raising another 500K of funding.
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