WebEngage automation platform raises $20 million in funding led by Singularity Growth

Market automation platform WebEngage on Tuesday said it had raised $20 million in funding led by Singularity Growth Opportunities fund and SWC Global.

Existing investors including India Quotient, Blume Ventures and IAN Fund also contributed to the funding. The round was attended by several family offices and angel investors such as Unmaj Corporation, NB Ventures, BharatPe co-founder Shashwat Nakrani and

Capital Chairman Gopal Srinivasan and others.

It plans to use the capital to maintain its growth trajectory as it expands operations in India, the Middle East and North Africa (MENA) and the South East Asia (SEA) regions.

Founded in 2011, WebEngage provides customers with customer retention and marketing automation solutions and helps them scale with their customer data and analytics platform. It also provides a personalization engine for artificial intelligence (AI) and machine learning (ML) based product recommendations to help customers improve customer conversions.

“We are delighted to have Singularity Growth Opportunities Fund and SWC Global as our new partners and we are fortunate that existing partners have doubled their trust in us,” said Avlesh Singh, Co-Founder and CEO (CEO) of WebEngage.

The company currently has an annual income of $20 million, the report said. It also has over 600 clients, including new economy and internet businesses such as Unacademy, Myntra, Pepperfry and GoIbibo, among others.

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“WebEngage’s end-to-end customer engagement platform truly enables businesses to better listen to their customers, understand their behavior in depth through intelligent customer segmentation, and act on that knowledge on a case-by-case basis. What fascinated us about Avlesh and his team is their ability to gain momentum not only in digital business, but also in large traditional enterprises,” said Apoorva Patel, managing partner of Singularity Growth Opportunities Fund.

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