(L-R) MoEngage Co-Founders Ravi Dodda (CEO) and Yashwanth Kumar (CTO)
MoEngage, a customer engagement platform for consumer brands, announced today it has raised US$77 million in a Series E round of funding.
Led by Goldman Sachs and B Capital, the round also saw participation from its existing investors Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India.
This is the third fundraising for MoEngage in the last 12 months, which includes US$32.5 million in July 2021 and US$30 million in December.
MoEngage will use the new capital to deepen its geographic footprint in the US, the UK, and Asia markets and also expand in new markets like Latin America and Australia. A portion of the money will be used to explore strategic acquisitions.
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Established in 2014, US-headquartered MoEngage provides marketers and product managers with consumer behaviour data and the ability to act on those insights to engage customers across web, mobile, email, social, and messaging channels. The firm claims it has clients in 35 countries. Its clientele includes Alfagift, AllValue, Astrapay, Blibli, CIMB Bank, JD.ID, Lummo, POPS, Syfe, Telekom Malaysia, theAsianparent, and XL Axiata.
In the last 12 months, MoEngage claims to have grown annualised recurring revenue by more than 105 per cent, added 500 new customers, and doubled its headcount to more than 650.
MoEngage has a presence in the UK, Germany, Singapore, Vietnam, Thailand, and Indonesia.
The firm launched offices in Singapore and the Philippines this year, with an Australian office coming soon.
The startup had earlier raised US$9 million in Series B funding from Ventureast and Helion Venture in 2018.
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