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.
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