Welcome, Social Capital!

It gives me great pleasure to break this news to you – WebEngage has a new investor, Social Capital.

I got introduced to the fund’s Capital-as-a-Service vehicle some time ago. Having interacted with a lot of venture capitalists in all these years, I found it very intriguing to see a fund choosing to invest based on algorithms analyzing data instead of humans.

WebEngage is the first Indian company to raise through the CaaS vehicle of Social Capital.

Why now?

Because, we are in hyper growth mode currently, and we could use all the help we can. Sans the confidential data, here’s how our revenues have grown in the last 12 months – almost a 3x!

Retention marketing is broken. The channels of retention for consumer businesses – mobile, web, email and social – are invariably being run by different teams using plethora of tools. We want to unify all of that into a single product experience and treat channels as just a delivery medium. We want to shift the focus on creating awesome user journeys and experiences; and, not the next shiny looking push notification or email campaign.

What next?

If you haven’t seen the rapid pace of our product execution in last 9 months, check this out. We have a strong product pipeline for 2018 with focus on these goals –

  1. Suggest user journeys to marketers and product managers based on data and machine learning.
  2. Help customers measure and optimize based on global/local benchmarks.
  3. Help customers to holistically test campaigns across channels before launching.
  4. Grow the platform to integrate nicely with other ecosystem players.
  5. Help customers WIN.

WebEngage is the first true omni-channel solution for small and medium consumer businesses. We’ll continue to build further on that mission.

In context of the raise, I remember speaking with Ashley Carroll, partner at Social Capital. She said they were impressed with our growth compared to other similar companies they have seen. It was a great validation for the mission we are on. Social Capital joins our cap table along with existing investors including Blume Ventures, GTI Capital, Capillary Technologies and angels like Rajan Anandan.

These are exciting times for us.

Onwards and upwards.

– Avlesh

Posted by in Funding

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[Announcement] We raised our first round of capital. Wooohooo!

I am eternally glad and ecstatic to announce that we have raised our seed round of capital. This announcement is delayed by a couple of months as we got busy with our product. Getting funded is a dream come true for most startups and it is no different for us.

We raised our seed capital from a group of angel investors at the Indian Angel Network (IAN), led by Rajan Anandan – Vice President at Google India. We are glad to have the likes of Rajan, Sunil Kalra, Sadeesh Raghavan, Ashim Mehra, Nitin Singhal, Pradeep Gupta and Harish Mehta back us in chasing our dream run. We have added Rajan to the company’s board. We are super excited to have such stalwarts join forces with us and guide us towards building one of the most disruptive internet products of recent times called WebEngage.

So now that we have the money, what are we going to do with it? Well, several things including paying ourselves (salaries have been a luxury), scaling up our infra, hiring a few key folks and paying our office bills (on time). However, there are a few things that we’ll NOT use this money for –

  1. We’ll NOT hire just because we have the urge to do so or now we have the money to do so. You belong to us only if you prove you are worth it. We are pathetic when it comes to hiring – none of us can work with the wrong guy/gal. We’d rather prefer to slog and work overtime than hire and repent. Oh btw, we are hiring – in dev, design and sales. Contact us if you are interested.
  2. We’ll NOT move into a plush office. We work out of a 240 sq. ft. cave in Goregaon East, Mumbai. The office is well done and good to seat 8 of us (more on our office here and here).
  3. We’ll NOT spend money on mindless advertising and marketing. No we won’t. Trust me, we’ll not.

At the time of publishing this post, this news was already carried by Pluggdin, VCCircle, Medianama and Alootechie. We thank them whole-heartedly for covering us, we are humbled.

Hello world, we have arrived. It feels orgasmic as I am about to complete this post.
Stay tuned. We love you!