The round also saw participation from a few family offices including the likes of Unmaj Corporation, NB Ventures, Shashwat Nakrani (Cofounder of BharatPe), and Gopal Srinivasan (Chairman, TVS Capital) amongst others
WebEngage, the full stack retention operating system and one of the most resilient B2B Saas startups, today announced that it raised $20 Million in Series B 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 (Cofounder of BharatPe), and Gopal Srinivasan (Chairman, TVS Capital) amongst others.
WebEngage has showcased unusual frugality and resilience in an 11-year journey filled with ups and downs, burning only ~$6M in capital to reach a $20M annual revenue run rate, an enviable position to be in. Peers in SaaS spend about 3x to 5x more to get to the same scale. The company is working with 600+ clients including new-economy and internet-first businesses as well as propelling the digital transformation journey for the enterprise clients.
Speaking at the announcement, Avlesh Singh, Co-Founder and 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.”
Commenting on the engagement with WebEngage, 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 were also very impressed with customer feedback on the company’s superior customer service and support, and believe this to be their key competitive advantage. Singularity Growth is thrilled to be part of WebEngage’s growth journey in both India and overseas”.