SaaS platform WebEngage raises $20 million in funding led by Singularity Growth
- ByStartupStory | August 2, 2022
Mumbai-based market automation platform WebEngage on Tuesday said it has raised $20 million in Series B round of funding led by Singularity Growth Opportunities Fund and SWC Global. Existing investors include India Quotient, Blume Ventures and IAN Fund.
The capital will be deployed to maintain the trajectory of the startup as it scales operations across India, the Middle East and North Africa (MENA), and as well as Southeast Asia (SEA) regions.
With over 600 clients the company at present includes new-economy and internet-first businesses, like Unacademy, Myntra, Pepperfry, and GoIbibo, the company has an annual revenue run rate of $20 million, it said in a release.
Avlesh Singh, Co-founder and CEO, WebEngage, commented, “We are delighted to have Singularity Growth Opportunities Fund and SWC Global as our new partners and are fortunate to have existing partners double down on their confidence in us.”
“WebEngage’s comprehensive customer engagement platform truly empowers companies to listen to their customers better, understand their behavior deeply by smartly segmenting customers, and act on the derived knowledge in a personal way. What fascinated us about Avlesh and his team is their ability to gain traction with not only digital businesses, but also with large traditional enterprises,” said Apurva Patel, managing partner of Singularity Growth Opportunities Fund.
About WebEngage
Founded in 2011 by Avlesh Singh and Ankit Utreja, WebEngage offers consumer internet companies marketing automation services to improve customer engagement and retention easier and more successful.
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