WebEngage, a full stack retention operating system, has raised $20 million in Series B funding round led by Singularity Growth Opportunities Fund and SWC Global.
The round saw participation from existing investors India Quotient, Blume Ventures and IAN Fund. It also saw participation from a few family offices includingf Unmaj Corporation, NB Ventures, Shashwat Nakrani (Cofounder of BharatPe), and Gopal Srinivasan (Chairman, TVS Capital) amongst others.
The capital will be deployed to maintain the trajectory the startup has been on. WebEngage has grown 100 per cent YoY, and has scaled operations across India, MENA and SEA regions. The team strength has increased 2.5 times since 2020 with hires across the marketing, sales, product, engineering and support functions, said the company.
Avlesh Singh, Co-Founder & CEO, WebEngage, said, “We are absolutely delighted to have Singularity Growth Opportunities Fund and SWC Global as our new partners and are blessed to have existing partners double down on their confidence in us. The ride has just begun and we have the tickets to the front row seats for anyone who wants to join our journey of simplifying retention for the world.”
The company is working with more than 600 clients including new-economy and internet-first businesses as well as propelling the digital transformation journey for the enterprise clients.
Apurva Patel, Managing Partner of Singularity Growth Opportunities Fund, said, “WebEngage’s comprehensive customer engagement platform truly empowers companies to listen to their customers better, to understand their behavior deeply by smartly segmenting customers, and to act on that knowledge in a way that is personal.”