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WebEngage featured in the ICICI Securities report on “Decoding New-Age Tech in India”

Icici Securities
Icici Securities


WebEngage

Company overview
WebEngage is a Mumbai-based Software-as-a-Service (SaaS) company that provides customer engagement and retention solutions to businesses across industries. Founded in 2011, the company focuses on enabling enterprises to improve user engagement through data-driven communication across multiple channels such as email, push notifications, SMS, WhatsApp, and in-app messaging. Over time, WebEngage has evolved from a notification and feedback tool into a full-stack customer data and engagement platform, helping businesses manage the entire user lifecycle from acquisition to retention.

Business model and value proposition
WebEngage operates a pure-play SaaS business model based on subscription pricing, typically structured around usage metrics such as the number of monthly active users, events tracked, and communication volume. The platform enables businesses to collect, unify, and analyze customer data in real time, and then orchestrate personalised engagement campaigns across multiple channels. Its value proposition lies in improving customer retention, increasing lifetime value, and driving higher conversion rates through targeted and automated communication. For businesses, this translates into better marketing efficiency and deeper customer relationships, while reducing churn.

Exhibit 308: Final Snapshot

Founders and leadership
WebEngage was founded by Avlesh Singh and Ankit Utreja. Avlesh Singh, the CEO, has a strong background in data science and machine learning, which has shaped the company’s focus on data-driven engagement. Ankit Utreja, the CTO, has deep expertise in engineering and product development, leading the technology architecture of the platform.

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