By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Environment Minister launches country report for climate and development
    Environment Minister launches country report for climate and development
    March 22, 2023
    Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
    Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
    March 21, 2023
    IMF reaches staff-level deal with Somalia
    IMF reaches staff-level deal with Somalia
    March 21, 2023
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
  • Politics
    PoliticsShow More
    Irrigation Minister discusses international cooperation with UNGA President
    Irrigation Minister discusses international cooperation with UNGA President 
    March 22, 2023
    Luxor hosts conference on climate change: Shoukry
    Luxor hosts conference on climate change: Shoukry
    March 22, 2023
    Arab League condemns Israeli minister who denies historical rights of Palestinians
    Arab League condemns Israeli minister who denies historical rights of Palestinians
    March 22, 2023
    New York beefs up security measures amid uncertainties over Trump case
    New York beefs up security measures amid uncertainties over Trump case
    March 22, 2023
    A Palestinian girl holds a lantern to celebrate the upcoming Ramadan, in Gaza City, on March 20, 2023. (Photo by Rizek Abdeljawad/Xinhua)
    Palestinians prepare for Ramadan amid hopes for restoring peace in West Bank, Gaza
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: WebEngage: The most resilient B2B SaaS start-up raises $20m in Series B round, eyes IPO in three years
Share
Notification
Latest News
Irrigation Minister discusses international cooperation with UNGA President
Irrigation Minister discusses international cooperation with UNGA President 
Egypt Politics
Luxor hosts conference on climate change: Shoukry
Luxor hosts conference on climate change: Shoukry
Politics Egypt
Arab League condemns Israeli minister who denies historical rights of Palestinians
Arab League condemns Israeli minister who denies historical rights of Palestinians
Politics Region
Environment Minister launches country report for climate and development
Environment Minister launches country report for climate and development
Business
New York beefs up security measures amid uncertainties over Trump case
New York beefs up security measures amid uncertainties over Trump case
Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > WebEngage: The most resilient B2B SaaS start-up raises $20m in Series B round, eyes IPO in three years
Business

WebEngage: The most resilient B2B SaaS start-up raises $20m in Series B round, eyes IPO in three years

Daily News Egypt
Last updated: 2022/08/04 at 4:06 PM
By Daily News Egypt 4 Min Read
Share
WebEngage: The most resilient B2B SaaS start-up raises $20m in Series B round, eyes IPO in three years
SHARE

WebEngage — a full-stack retention operating system and one of the most resilient B2B SaaS start-ups — announced on Wednesday that it raised $20m in a Series B round led by the Singularity Growth Opportunities Fund and SWC Global.

The round also included existing investors India Quotient, Blume Ventures, and IAN Fund, along with a few family offices — Unmaj Corporation, NB Ventures, Shashwat Nakrani (Co-founder of BharatPe), and Gopal Srinivasan (Chairperson of TVS Capital).

WebEngage showcased outstanding frugality and resilience in its 11-year journey that is full of ups and downs, burning only $6m in capital to reach a $20m revenue run rate — an enviable position to be in; peers in SaaS spend about 3-5x more to achieve the same scale.

The company is also adding over 60 new clients every quarter, in addition to working with 600+ clients, including new-economy and internet-first businesses, and propelling the digital transformation journey for enterprise clients.

Commenting on the funding, Avlesh Singh — Co-Founder and CEO of WebEngage — said: “We are absolutely delighted to have Singularity Growth Opportunities Fund and SWC Global as our new partners and are blessed to have existing partners double down on their confidence in us. The ride has just begun, and we have the tickets to the front row seats for anyone who wants to join our journey of ‘Simplifying Retention for the World.’”

Commenting on the engagement with WebEngage, Apurva Patel — Managing Partner of Singularity Growth Opportunities Fund — said: “WebEngage’s comprehensive customer engagement platform truly empowers companies to listen to their customers better, deeply understand their behaviour by smartly segmenting customers, and act on that knowledge in a way that is personal. What fascinated us about Singh and his team is their ability to gain traction with not only digital businesses but also with large traditional enterprises.”

“We were also very impressed with customer feedback on the company’s superior customer service and support and believe this to be their key competitive advantage. Singularity Growth is thrilled to be part of WebEngage’s growth journey in both India and overseas.”

The capital will be deployed to maintain the high growth trajectory WebEngage has been on, growing 100% y-o-y and scaling operations across India, MENA, and SEA.

The company’s team strength has increased 2.5x since 2020, with strategic high-profile hires across marketing, sales, product, engineering, and support functions. Recent customer wins like Adani Group in India and IKEA in Saudi Arabia have also validated enterprise acceptance of WebEngage’s offerings.

“We have always believed that the best teams build the best product and, in the long run, it’s the best product that wins. This is our fourth investment in WebEngage and we will continue to back them as far as we can. WebEngage also demonstrates our belief that companies that win SaaS in India can go global and repeat their performance,” said Anand Lunia — Founding Partner at India Quotient — on their investment.

You Might Also Like

Environment Minister launches country report for climate and development

Beyond GDP: Changing how we measure progress is key to tackling a world in crisis

IMF reaches staff-level deal with Somalia

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

TAGGED: WebEngage
Share this Article
Facebook Twitter Email Print
Previous Article 7,000 projects formalised since issuance of Enterprise Development Law: MSMEDA 7,000 projects formalised since issuance of Enterprise Development Law: MSMEDA
Next Article Egypt’s to kick-off International Security and Safety Exhibition and Conference on 19 June 2023 Egypt’s to kick-off International Security and Safety Exhibition and Conference on 19 June 2023
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Irrigation Minister discusses international cooperation with UNGA President
Irrigation Minister discusses international cooperation with UNGA President 
Egypt Politics
Luxor hosts conference on climate change: Shoukry
Luxor hosts conference on climate change: Shoukry
Politics Egypt
Arab League condemns Israeli minister who denies historical rights of Palestinians
Arab League condemns Israeli minister who denies historical rights of Palestinians
Politics Region
Environment Minister launches country report for climate and development
Environment Minister launches country report for climate and development
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?