Mumbai-based full-stack marketing automation platform WebEngage has raised a total of about $16 million in its Series B funding round, Entrackr reported.
According to the report that cited the company’s latest regulatory filings, Singularity Ventures led the first investment tranche of $6 million in WebEngage in June while SWC Global Fund led the second tranche of $10 million. IQ Fund, Blume Ventures, and Sonali Patel and Kushal Jayesh Khandwala were the other investors to join the round.
Post the infusion, promoters’ stake in the company will come down to 24.17% while SWC Global Fund will hold a 7.08% interest.
WebEngage offers cloud solutions for customer engagement and retention. The company caters to various industries like e-commerce, travel/hospitality, BFSI, gaming, ed-tech, media and entertainment. It had last secured debt funding from venture debt fund BlackSoil in October last year.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from July 25-31, 2022.
