It gives me great pleasure to break this news to you – WebEngage has a new investor, Social Capital.
I got introduced to the fund’s Capital-as-a-Service vehicle some time ago. Having interacted with a lot of venture capitalists in all these years, I found it very intriguing to see a fund choosing to invest based on algorithms analyzing data instead of humans.
WebEngage is the first Indian company to raise through the CaaS vehicle of Social Capital.
Because, we are in hyper-growth mode currently, and we could use all the help we can. Sans the confidential data, here’s how our revenues have grown in the last 12 months – almost a 3x!
Retention marketing is broken. The channels of retention for consumer businesses – mobile, web, email, and social – are invariably being run by different teams using a plethora of tools. We want to unify all of that into a single product experience and treat channels as just a delivery medium. We want to shift the focus on creating awesome user journeys and experiences; and, not the next shiny-looking push notification or email campaign.
If you haven’t seen the rapid pace of our product execution in the last 9 months, check this out. We have a strong product pipeline for 2018 with a focus on these goals –
- Suggest user journeys to marketers and product managers based on data and machine learning.
- Help customers measure and optimize based on global/local benchmarks.
- Help customers holistically test campaigns across channels before launching.
- Grow the platform to integrate nicely with other ecosystem players.
- Help customers WIN.
WebEngage is the first true omnichannel solution for small and medium consumer businesses. We’ll continue to build further on that mission.
In the context of the raise, I remember speaking with Ashley Carroll, partner at Social Capital. She said they were impressed with our growth compared to other similar companies they have seen. It was a great validation for the mission we are on. Social Capital joins our cap table along with existing investors including Blume Ventures, GTI Capital, Capillary Technologies, and angels like Rajan Anandan.
These are exciting times for us.
Onwards and upwards.