Total amount raised
$27.1 Million
Latest funding date
8/1/2022
Location
WebEngage has successfully raised funds through 7 different rounds, with the latest being a Series B round. The company is backed by notable investors, including Blume Ventures and Gopal Srinivasan.
Keep reading to explore the intricacies of WebEngage's fundraising journey and the investors backing this innovative platform.
What Is WebEngage?
WebEngage is a marketing automation software company based in Mumbai, Maharashtra, India. The company operates in various industries, including analytics, enterprise software, marketing automation, personalization, SaaS, and software. It has an employee count ranging from 251 to 500.
WebEngage offers a comprehensive platform designed to enhance customer engagement and retention. The platform includes tools for customer data management, web and app personalization, product and revenue analytics, user segmentation, AI-driven insights, campaign orchestration, and omnichannel engagement. Trusted by over 850 global brands, WebEngage is known for its ability to unify customer data, personalize and automate campaigns, and provide actionable insights to drive business growth.
How Much Funding Has WebEngage Raised?
- Angel Round
- Amount Raised: USD 100,000
- Date: October 2011
- Lead Investors: Rajan Anandan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop the initial product.
- Seed Round
- Amount Raised: USD 500,000
- Date: August 2012
- Lead Investors: GTI Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the product features.
- Seed Round
- Amount Raised: USD 1,250,000
- Date: January 2016
- Lead Investors: Blume Ventures, GTI Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Debt Financing
- Amount Raised: USD 1,250,000
- Date: November 2017
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and fuel growth.
- Series A
- Amount Raised: USD 4,000,000
- Date: January 2020
- Lead Investors: IAN Group, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product capabilities and expand the customer base.
- Series B
- Amount Raised: USD 20,000,000
- Date: September 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain growth trajectory and scale operations.
- Series B
- Amount Raised: USD 20,000,000
- Date: August 2022
- Lead Investors: SWC Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the product, expand into new markets, and hire more local talent.
Total Amount Raised: USD 47,100,000. Current Valuation: Not publicly disclosed.
Key Investors
- SWC Global
- Details: SWC Global is a prominent investment firm that led the Series B round for WebEngage. They focus on high-growth sectors and global investment opportunities.
- Investment Focus Areas: High-growth sectors, global opportunities.
- Notable Investments: WebEngage.
- IAN Group
- Details: IAN Group is an angel investment network that participated in WebEngage's Series A round. They are known for supporting early-stage startups across various sectors.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
- India Quotient
- Details: India Quotient is a venture capital firm that has invested in WebEngage multiple times, including the Series A and Series B rounds. They focus on early-stage startups in India with global potential.
- Investment Focus Areas: Early-stage startups, technology, global potential.
- Notable Investments: Not publicly disclosed.
- Blume Ventures
- Details: Blume Ventures is a venture capital firm that has been a consistent investor in WebEngage. They focus on early-stage technology-driven startups in India.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
- BlackSoil
- Details: BlackSoil is a debt financing firm that participated in WebEngage's debt financing round. They provide structured debt solutions to high-growth companies.
- Investment Focus Areas: Debt financing, high-growth companies, structured debt solutions.
- Notable Investments: Not publicly disclosed.
What's Next for WebEngage?
WebEngage is poised for significant growth as it expands into new markets across India, MENA, and SEA regions. The company aims to enhance its product offerings, focusing on customer retention and leveraging AI and ML for personalized recommendations. This expansion presents a substantial opportunity, given the increasing demand for digital engagement solutions.
Future fundraising efforts are likely as WebEngage continues to scale its operations and explore potential acquisitions to bolster its capabilities. The company's strong backing from investors and its impressive annual revenue run rate of $20 million suggest a promising trajectory for further investment rounds.
However, WebEngage may face challenges such as intense competition in the customer engagement space and the need to continuously innovate. Adapting to privacy changes and maintaining compliance with new regulations will also be crucial as the company navigates its growth journey.
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