B2B SaaS start-up WebEngage today announced that it raised $20 million in Series B round led by Singularity Growth Opportunities Fund and SWC Global with participation from existing investors India Quotient, Blume Ventures and IAN Fund.
The round also saw participation from a few family offices, including the likes of Unmaj Corporation, NB Ventures, Shashwat Nakrani (co-founder of BharatPe), and Gopal Srinivasan (Chairman, TVS Capital) amongst others.
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.”
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. 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 have always believed that the best teams build the best product and in the long run, it's the best product that wins. This is our 4th investment in WebEngage and we will continue to back them as far as we can. WebEngage also demonstrates our belief that companies that win SaaS in India can go global and repeat their performance", said Anand Lunia, Founding Partner at India Quotient on their investment.
The company is currently working with 600+ clients including new-economy and internet-first businesses as well as propelling the digital transformation journey for the enterprise clients.
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