Total amount raised
$27.1 Millions
Latest funding date
8/1/2022
Location
WebEngage has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of tools for customer engagement and retention.
Keep reading to explore the intricacies of WebEngage's fundraising journey and the investors backing this innovative platform.
What Is WebEngage?
Founded in 2011 by Ankit Utreja and Avlesh Singh, WebEngage is headquartered in Mumbai, Maharashtra, India. The company specializes in marketing automation software, helping B2C companies drive more revenue through personalized user engagement across multiple channels. With a team of 251-500 employees, WebEngage offers a comprehensive suite of tools for customer data management, personalization, analytics, and omnichannel engagement.
How Much Funding Has WebEngage Raised?
- Angel Round
- Amount Raised: $100K
- Date: October 2011
- Lead Investors: Rajan Anandan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Seed Round
- Amount Raised: $500K
- Date: August 2012
- Lead Investors: GTI Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Seed Round
- Amount Raised: $1.3M
- Date: January 2016
- Lead Investors: Blume Ventures, GTI Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance marketing efforts.
- Debt Financing
- Amount Raised: $1.3M
- Date: November 2017
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Series A
- Amount Raised: $4M
- Date: January 2020
- Lead Investors: IAN Group, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in technology upgrades.
- Series B
- Amount Raised: -
- Date: September 2021
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and market expansion.
- Series B
- Amount Raised: $20M
- Date: August 2022
- Lead Investors: SWC Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations in India, MENA, and SEA regions.
Total Amount Raised: $27.2M. Current Valuation: Not publicly disclosed.
Key Investors
- SWC Global
- Details: SWC Global is a prominent investment firm known for its strategic investments in high-growth companies. They co-led the Series B funding round for WebEngage.
- Investment Focus Areas: Technology, SaaS, Global Markets
- Notable Investments: Not publicly disclosed
- IAN Group
- Details: Indian Angel Network (IAN) is one of the largest angel investor networks in India, providing funding and mentorship to early-stage startups. They led the Series A funding round for WebEngage.
- Investment Focus Areas: Technology, Consumer Businesses, Early-Stage Startups
- Notable Investments: Druva, Box8, WebEngage
- India Quotient
- Details: India Quotient is a venture capital firm that focuses on early-stage investments in technology and consumer companies. They have been a consistent investor in WebEngage.
- Investment Focus Areas: SaaS, Consumer Tech, Fintech
- Notable Investments: ShareChat, Lendingkart, WebEngage
- BlackSoil
- Details: BlackSoil is a venture debt firm that provides structured debt solutions to high-growth companies. They participated in the debt financing round for WebEngage.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: OYO, ZestMoney, WebEngage
- Blume Ventures
- Details: Blume Ventures is an early-stage venture capital firm that invests in technology startups. They have been a key investor in multiple funding rounds for WebEngage.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Unacademy, Dunzo, WebEngage
What's Next for WebEngage?
WebEngage is poised to capitalize on significant opportunities as it scales operations across India, MENA, and SEA regions. With a $20 million annual revenue run rate and over 600 clients, the company is well-positioned to enhance its customer retention and marketing automation solutions, leveraging AI and ML for personalized product recommendations.
Future fundraising opportunities appear promising, with potential for further investment rounds to support expansion and product development. The increasing demand for customer engagement platforms and the shift towards first-party data tracking due to privacy changes by Apple and Google present favorable industry trends.
However, WebEngage may face challenges such as competition from other market automation platforms and the complexities of scaling operations in diverse regions. Maintaining its growth trajectory while ensuring high-quality service will be crucial as the company navigates these hurdles.
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