MAM
WebEngage raises $20 mn in Series B round led by Singularity Growth & SWC Global
Mumbai: WebEngage announced a $20 million Series B round led by Singularity Growth Opportunities Fund and SWC Global, with participation from existing investors India Quotient, Blume Ventures, and IAN Fund recently.
The round also saw participation from a few family offices, including the likes of Unmaj Corporation, NB Ventures, Shashwat Nakrani (cofounder of BharatPe), and Gopal Srinivasan (chairman, TVS Capital), amongst others.
WebEngage has showcased unusual frugality and resilience in its 11-year journey filled with ups and downs, burning only six million dollars in capital to reach a $20 million annual revenue run rate, an enviable position to be in.
Peers in SaaS spend about 3x to 5x more to get to the same scale. The company is working with over six hundred clients, including new-economy and internet-first businesses, as well as propelling the digital transformation journey for enterprise clients.
The funds will be used to maintain WebEngage’s rapid growth—it is up 100 per cent year-on-year and has expanded operations to India, the Middle East, and Southeast Asia. The company’s team strength has increased 2.5x since 2020 with strategic high-profile hires across the marketing, sales, product, engineering, and support functions. Recent customer wins like Adani Group in India and IKEA in Saudi Arabia have validated enterprise acceptance of the WebEngage offering.
Speaking about this new milestone, WebEngage co-founder and CEO Avlesh Singh 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, Singularity Growth Opportunities Fund managing partner Apurva Patel said, “WebEngage’s comprehensive customer engagement platform truly empowers companies to listen to their customers better, to understand their behaviour deeply by smartly segmenting customers, and to act on that knowledge in a way that is personal. What fascinated us about Avlesh 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.”
“We have always believed that the best teams build the best products, and in the long run, it’s the best product that wins. This is our 4th 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,” concluded India Quotient founding partner Anand Lunia.
MAM
India’s experience economy grows as live events market hits Rs 17,000 crore
EY-Parthenon and BookMyShow report finds 78 per cent Indians prefer experiences over products
MUMBAI: India’s live entertainment scene is no longer just about music, comedy or festivals. It is increasingly becoming a powerful stage for brands seeking deeper connections with consumers.
A new report titled Beyond Attention, Into Immersion by EY-Parthenon and BookMyShow suggests that India’s experience economy is entering a strong growth phase, driven by consumers who are choosing memorable moments over material purchases.
According to the study, the country’s live events ecosystem, which includes concerts, comedy tours, festivals and immersive exhibitions, is estimated to reach around Rs 17,000 crore in 2025. The growth reflects a broader cultural shift in how Indians spend their time and money.
The report finds that 78 per cent of Indian consumers now prefer spending on experiences rather than physical products. From attending concerts and festivals to participating in interactive brand installations, audiences are increasingly seeking engagement, community and shareable moments.
This change in consumer behaviour is particularly evident among younger audiences who want to participate rather than simply watch. Instead of passively consuming entertainment, many now look for experiences that allow them to interact, express themselves and connect with like minded communities.
For marketers, this shift has turned experiential marketing into a strategic priority rather than a promotional add on. Brands are moving away from interruption driven advertising and towards immersive formats that allow consumers to discover, test and emotionally connect with products.
The report suggests that experiential marketing now plays a role across the entire consumer journey. It can spark brand discovery, strengthen storytelling, encourage product trials and ultimately influence purchase decisions and loyalty.
The impact is already visible. Post event surveys conducted among 7,450 attendees at major events including Lollapalooza India and concerts by Ed Sheeran and Guns N’ Roses highlight the effectiveness of these experiences.
Around 59 per cent of attendees recalled brands they interacted with during the events, while 55 per cent said those interactions increased their likelihood of purchasing from the brand. A further 63 per cent reported that brand activations actually enhanced their event experience rather than distracting from it. Nearly 29 per cent also said the interaction improved their perception of the brand.
Brands are also changing the way they approach events. Instead of simply putting logos on stages or banners, companies are building experiences into the fabric of the event itself.
Financial services brands, for example, are offering early ticket access, exclusive lounges and curated event experiences for cardholders. Fashion and beauty companies are using festivals to showcase products through pop ups, interactive installations and social media friendly spaces that encourage visitors to share their experiences online.
The scope of experiential marketing now stretches far beyond live entertainment. Retailers are designing experiential stores where customers can explore products in lifelike environments. Entertainment platforms are extending popular intellectual properties into immersive exhibitions and fan events. Technology is also playing a growing role through augmented reality and virtual try on tools that blend digital discovery with physical interaction.
Cultural festivals remain one of the most powerful platforms for such engagement in India. Celebrations such as Navratri and Holi bring together large communities, emotional participation and heightened consumer spending. For brands, these moments offer an opportunity to become part of the celebration rather than simply advertise around it.
Despite the momentum, the report notes that some companies still hesitate to adopt experiential marketing at scale. Budget constraints, limited expertise and uncertainty around measuring return on investment remain common concerns.
However, the growing body of data around consumer engagement and brand impact is gradually addressing these challenges. More marketers are expected to allocate a larger share of their budgets to experiential formats over the coming years.
Taken together, the findings point to a clear trend. As consumers seek meaning, memories and moments worth sharing, live experiences are emerging as one of the most powerful ways for brands to stay relevant in a crowded media landscape.
