MoEngage, an intelligent customer analytics and cross-channel engagement platform, has raised $25 million in Series C funding. The funding was led by Eight Roads Ventures with participation from its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast.
Funds raised in the latest round will be used to deepen relationships in Asia, integrate advanced capabilities into the product mix and scale operations in the US and Europe, MoEngage’s two fastest-growing markets.
“The latest round of funding will help us reach more brands and empower them with the next-generation customer engagement platform built for the mobile-first world that is easier to use, fully integrated and intelligent,” said Raviteja Dodda, founder and CEO, MoEngage Inc. “We also welcome the wealth of experience and expertise that Eight Roads Ventures and F-Prime Capital bring into the boardroom with this investment,” he said.
With AI-powered automation, optimisation capabilities and in-built analytics, MoEngage enables hyper-personalisation at scale across multiple channels like mobile push, e-mail, in-app, web push, on-site messages and SMS. Fortune 500 brands across 35 plus countries such as Deutsche Telekom, Samsung, Vodafone, Future Retail, Landmark Group, Mashreq Bank and McAfee along with internet-first brands such as Ola, OYO, Bigbasket and Tokopedia use MoEngage to coordinate their cross-channel campaigns. At present, enterprise clients contribute nearly 50 per cent of MoEngage’s total revenue.
‘Thrilled to partner MoEngage’
“The rapid rise of mobile has increased the complexity of how digital-first and consumer-focused enterprises interact with customers. Marketers now need to seamlessly engage with customers in a personalised and real-time manner across different channels. What differentiates MoEngage from other engagement platforms is the combination of its ever-evolving AI-enabled customer journey capabilities, industry-best channel reachability and top-notch customer support. We are thrilled to partner with Raviteja and his team as they look to expand globally,” said Shweta Bhatia, Partner at Eight Roads Ventures.
MoEngage was incorporated in 2014 by Raviteja Dodda and Yashwanth Kumar, both alumni of IIT Kharagpur. MoEngage has featured in the Gartner Magic Quadrant for Mobile Marketing Platform twice in a row and has received highest overall customer ratings (4.6/5) in 2019 Gartner Peer Insights ‘Voice of the Customer’ Report. It recently achieved Amazon Web Services ‘retail competency’.