WebEngage raises USD 20mln in Series B

WebEngage raises USD 20mln in Series B

Dubai, United Arab Emirates:

WebEngage, a full-stack retention operating system and one of the most resilient B2B SaaS startups, today announced that it raised USD 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 Unmaj Corporation, NB Ventures, Shashwat Nakrani (Co-founder of BharatPe), and Gopal Srinivasan (Chairman, TVS Capital), among others.

WebEngage showcased outstanding frugality and resilience in its 11-year journey filled with ups and downs, burning only USD 6 million in capital to reach a USD 20 million revenue run rate - an enviable position to be in. Peers in SaaS spend about 3-5x more to achieve the same scale. The company is adding over 60 new clients every quarter, in addition to working with 600+ clients, including new-economy and internet-first businesses, and propelling the digital transformation journey for enterprise clients.

Commenting on the funding, 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