Mumbai-based marketing automation platform WebEngage had raised around $10 million in the second tranche of its ongoing Series B round, which SWC Global Fund led. In June this year, the start-up had raised close to $6 million as the first tranche led by Singularity Ventures.
Entrackr reported that SWC Global Fund invested Rs 50 crore in the funding round, which also saw the participation of existing investors like IQ Fund and Blume Ventures, who infused Rs 18 crore and Rs 8 crore, respectively. Further, Sonali Patel, a partner at The Bridgespan Group and angel investor Kushal Jayesh Khandwala, director at KIFS Group, also chipped in Rs 20 lakh each.
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The decade-old start-up, which has raised over $27 million to date, is expected to go for more funding. According to Avlesh Singh, co-founder and CEO of WebEngage, the company’s revenue in FY 2022 crossed Rs 100 crore with a net loss of Rs 10 crore.
WebEngage claims to have over 400 million monthly active user engagement and has helped its clients generate an additional $10 billion in revenue. Its clientele includes Porter, Adani Group, Arata, FamPay, Alt Balaji, Acko, Scripbox, Airblack, Juicy Chemistry and ApnaKlub.
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