Business & Productivity
WebEngage raises via Social Capital’s Capital-as-a-Service
The Mumbai-based marketing automation solutions provider, has raised ₹65 lakhs from Social Capital, a Palo Alto-based VC firm led by Chamath Palihapitiya.

Details: Operated by Webklipper Technologies Private Limited, WebEngage has allotted 5131 Class A equity shares of nominal value ₹10/- at a premium of ₹1258.24/- per share.

The company founded by Avlesh Singh has so far raised ₹10.12Cr.

Some of the other notable investors include Rajan Jei Anandan, Rehan Yar Khan, Blume Ventures, GTI Capital Group, and Faktory Ventures.

What is this: The Capital-as-a-Service or CaaS is Social Capital's attempt at scaling early stage investing by allowing it to make early-stage investment decisions in a semi-automated fashion. In beta right now, the CaaS platform allows users to submit details including specifically their KPIs so that CaaS algorithms surface eligible startups for funding.

What is the BFD?: This is the first CaaS pick in India we have been able to surface. Social Capital does not announce CaaS investments or list them on its portoflio - so we have no known list of Social Capital's CaaS investments in India

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