I am stoked to announce our Series B fundraise.
We have raised $20M from a clutch of new investors 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), Gopal Srinivasan (Chairman, TVS Capital) amongst others.
WebEngage is a full-stack retention operating system for consumer businesses. We serve 600+ customers globally. Other than India, we operate in the Middle East, Latin America, Europe and SouthEast Asia. Our customers include new age consumer tech businesses like Myntra, Groww, Unacademy, Acko, Spinny etc and enterprise consumer brands like Unilever, Adani Group, IKEA, L’Oreal etc. Our product has consistently ranked #1 across all review platforms on ease of use and comprehensiveness of the platform.
We are on a unique mission at WebEngage. No business should ever have to work hard to retain their customers. User retention has to be smart, data driven, fully automated and hyper personalized at human scale. We are trying to solve this problem for mid-sized and large consumer businesses across the globe. We overemphasize on keeping our product simple. A significant chunk of our efforts in the product go towards reducing complexity across all featuresets. We will continue to double down here and make this the easiest of all retention tools ever made in history.
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”.
Customer retention is an evolving skillset. Over the years, through our flagship initiatives like EngageMint, Fountainhead Leadership Series etc, we have committed ourselves to the cause of improving the quality of retention marketing talent. We will continue to invest in our community initiatives for the ecosystem to build a large pool of specialists marketers and product managers who are retention first in their thought process.
“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.
Also, since we never got around to announcing our Series A, let me also use this opportunity to share that we raised $4m in our Series A in Jan 2020 from India Quotient, IAN Fund with participation from others.
Ankit (my cofounder) and I’d like to thank our team members, customers, partners and investors for their unwavering belief in our mission. Our best is yet to come and this is the beginning of a new chapter in our journey.
Onwards and upwards.