WebEngage, a full-stack retention operating system for consumer businesses, announced today that it has secured $20 million in funding led by Singularity Growth Opportunities Fund and SWC Global.
Existing investors India Quotient, Blume Ventures and IAN Fund also joined the round, along with Unmaj Corporation, NB Ventures, Shashwat Nakrani (co-founder of BharatPe), and Gopal Srinivasan (chairman of TVS Capital).
The company will use the funds to invest in its community initiatives for the ecosystem to build a large pool of specialist marketers and product managers.
Started in 2011 by Avlesh Singh and Ankit Utreja, WebEngage is a user engagement and retention platform serving more than 600 customers globally. With offices in Bangalore and Mumbai, it also operates in the Middle East, Latin America, Europe and Southeast Asia. Its customers include Myntra, Groww, Unacademy, Acko, Spinny, Unilever, Adani Group, IKEA, and L’Oreal.
“We are on a unique mission at WebEngage. No business should ever have to work hard to retain its customers. User retention has to be smart, data-driven, fully automated and hyper-personalized at the human scale. We are trying to solve this problem for mid-sized and large consumer businesses across the globe. We overemphasize keeping our product simple. A significant chunk of our efforts in the product goes towards reducing complexity across all feature sets. We will continue to double down here and make this the easiest of all retention tools ever made in history,” said Avlesh Singh, co-founder and CEO of WebEngage
Apurva Patel, the managing partner of Singularity Growth Opportunities Fund, said: “WebEngage’s comprehensive customer engagement platform truly empowers companies to listen to their customers better, to understand their behaviour deeply by smartly segmenting customers, and to act on that knowledge in a way that is personal.”
In January 2020, WebEngage raised US$4 million in Series A round from India Quotient, IAN Fund and others.