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Monday, April 15, 2024

WebEngage secures $20M to expand its B2B SaaS business

B2B SaaS start-up WebEngage has secured funding of $20 million. The company, which has operations across India, Southeast Asia, Middle East, and North Africa, will use the money for the expansion of its business.

WebEngage, a B2B SaaS startup, has secured $20 million in a fundraising round headed by Singularity Growth Opportunities Fund and SWC Global, with participation from previous backers India Quotient, Blume Ventures, and IAN Fund.

WebEngage plans to utilize the funds for expansion, claiming that it is expanding at a rate of 100% year on year and has operations in India, the Middle East, North Africa, and Southeast Asia. WebEngage’s enterprise service has been confirmed by customers such as Adani Group in India and IKEA in Saudi Arabia.

Avlesh Singh, co-founder and CEO of WebEngage, said, “We are incredibly thrilled to have Singularity Growth Opportunities Fund and SWC Global as new partners, and we are lucky to have current partners double down on their trust in us.”

Managing partner at Singularity Growth Opportunities Fund, Apurva Patel, said, “WebEngage’s comprehensive customer engagement platform truly empowers companies to listen to their customers better, understand their behavior deeply through smart customer segmentation, and act on that knowledge in a personal way.”

Anand Lunia, a founding partner at India Quotient, stated, “This is our fourth investment in WebEngage, and we intend to continue to support them as long as we can. WebEngage also shows our notion that firms who win SaaS in India can scale up and replicate their success globally.”


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