WebEngage Raises $20 Million In Fresh Funding Round
WebEngage, a multi-channel marketing automation & customer data platform, has raised $20 million (around Rs 160 crore) in funding led by Singularity Growth Opportunities Fund and SWC Global, reported VC Circle.
Existing investors India Quotient, Blume Ventures and IAN Fund with family offices Unmaj Corporation, NB Ventures and individual investors including Shashwat Nakrani (BharatPe co-founder) and Gopal Srinivasan (chairman, TVS Capital) also participated in the funding round.
As per the startup, the freshly raised funds will be used to accelerate growth.
WebEngage | Helping Brands Boost Revenue
Founded by Avlesh Singh and Ankit Utreja, WebEngage is a customer data platform and marketing automation suite that makes user engagement and retention simplified and highly effective for consumer tech enterprises and SMBs.
Run by Webklipper Technologies Pvt. Ltd, WebEngage helps brands drive more revenue from their existing customers and anonymous users through highly contextual, hyper-personalized engagement campaigns across 10 communication channels.
Commenting on the development, Apurva Patel, Managing Partner of Singularity Growth Opportunities Fund, said,
“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. We were also very impressed with customer feedback on the company’s superior customer service and support and believed this to be their key competitive advantage.”
Since its inception, the startup claims to have burned only $6 million in capital to reach a $20 million annual revenue run rate. The Mumbai-based startup claims to be growing at 100% year-on-year and has scaled operations across India, the Middle East and North Africa MENA and Southeast Asia regions.
Since 2020, WebEngage has increased its team strength 2.5x and added key clients like Adani Group in India and IKEA in Saudi Arabia.
WebEngage is working with over 600 clients and counts companies like HT Media, Unacademy, Myntra, Unilever, L’Oréal, Bajaj Auto, Pluralsight, Pepperfry, Junglee Games, FirstCry, GoIbibo, among others as its clients.
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