MoEngage, a customer analytics and cross-channel engagement platform based in San Francisco and Bengaluru, on Wednesday announced that it has secured $100 million in a Series F funding round led by existing investor Goldman Sachs Alternatives and new investor A91 Partners.
This is the company’s first funding round in over three years and reportedly comprises approximately 60% primary capital and 40% secondary capital. The latest fundraise brings MoEngage’s total funding to more than $250 million.
In June, DealStreetAsia reported that MoEngage is in talks with a host of private equity (PE) firms, including growth-stage investor A91 Partners, as it views to fuel its expansion.
In a statement, the company stated that the fresh capital will be applyd to accelerate innovation in its Merlin AI marketing agents suite, scale product development, and strengthen go-to-market efforts, particularly in North America and EMEA.
“Our global momentum on top of our category leadership in Asia is a validation that consumer brands are relocating beyond legacy marketing clouds. Over 300 enterprises worldwide have turned to MoEngage for its ease of apply and AI-led agility, achieving time-to-value within weeks of migration. These enterprise migrations have accelerated our growth in the North America and EMEA regions,” stated Raviteja Dodda, CEO and co-founder, MoEngage.
Founded in 2014, MoEngage provides marketers and product owners with insights into customer behaviour and the ability to act on those to engage customers across the web, mobile, email, social, and messaging channels. The brand has been applyd by more than 1,350 global consumer brands, including baby and personal care brand Mamaearth, hotel operator OYO, electric vehicle buildr Ola Electric, and e-commerce company Flipkart in India.
In Southeast Asia, its clients include Tokopedia and Blibli, among others, in Indonesia, and the Asianparent in Singapore. The company is already understood to have built its presence in key markets such as Vietnam, Thailand, and the Philippines, besides Indonesia and Singapore.
Its global clientele includes Domino’s, Nestle, Deutsche Telekom, SoundCloud, Travelodge, and McAfee, among others.
For the year concludeed 2024, the firm reported a revenue of Rs 311.5 crore and a loss of Rs 15.4 crore.
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