WebEngage, a marketing automation platform was founded by Avlesh Singh and Ankit Utreja in 2011, the company provides services to consumer internet companies to make user engagement and retention simplified and effective.
The company’s mission is to enable businesses to create personalized experiences at a massive scale. They believe that every journey begins with a small step. They want to enable brands to put the human element back in their marketing to create user engagement that feels real, just like talking to a friend.
As per the financial statements of the company, the total revenue for the company during FY22 was INR 98 crores.
The operating revenue for the company comprises income from subscription services, technical partnership sales, and sales of marketing automation services online. The company also generated INR 40 Lakhs of non-operating revenue from interest on its deposits.
As per the expenses sheet, the company spent INR 31.98 crores on technology sharing. They spent INR 28.5 crores on its employee benefits expenditure, during FY22 they increased their workforce with the objective of growing the scale of business operations.
During the same period, server hosting and software expenditure were around INR 23.3 crores and INR 3.56 crores respectively. The company also raised its expenditure on advertising and promotional activities to INR 8.53 crores. This took the total expenditure for the year to INR 115.3 crores.
With the rise in the scale of the business and its operations, the company finished its business for the financial year with an overall loss of INR 16.85 crores.
As per the financial analysis, the metrics of financial performance are as follows: EBITDA margin and BPS stood at 741 and -9.47% respectively. Also, it has been observed that the company has spent INR 1.18 for every INR 1 they generated as revenue.