IT startup WebEngage on Tuesday said it has raised USD 20 million (about Rs 157 crore) in a funding round led by Singularity Growth Opportunities Fund and SWC Global.
Existing investors India Quotient, Blume Ventures, IAN Fund and a few family offices, including the likes of Unmaj Corporation, NB Ventures, Shashwat Nakrani (Co-Founder of BharatPe), and Gopal Srinivasan (Chairman of TVS Capital), also participated in the Series B funding round. The company plans to deploy the capital to maintain its growth trajectory, according to a statement.
WebEngage, which is into Software as a Service (SaaS) segment, claims to have been growing 100 per cent year-on-year and has scaled operations across India, MENA (Middle East and North Africa) and SEA (South East Asia) regions. The company’s strength has increased 2.5 times since 2020 with strategic hires across the marketing, sales, product, engineering and support functions, it said.
The company claims to be working with over 600 clients, including new-economy and internet-first businesses, as well as propelling the digital transformation journey for the enterprise clients.