B2B SaaS start-up WebEngage raises $20 mn in Series B funding round

WebEngage, a B2B software as a service (SaaS) start-up, said on Tuesday it has raised $20 million in a funding round led by Singularity Growth Opportunities Fund and SWC Global and with participation from existing investors India Quotient, Blume Ventures and IAN Fund.

The Series B round also saw participation from family offices of Unmaj Corporation, NB Ventures, Shashwat Nakrani (a co-founder of BharatPe), and Gopal Srinivasan (chairman of TVS Capital) and others.

WebEngage will use the funding for expansion, saying it is growing 100 per cent year-on-year and it has operations across India, Middle East, North Africa and Southeast Asia. Customers like Adani Group in India and IKEA in Saudi Arabia have validated WebEngage’s enterprise offering.