Customer engagement platform MoEngage raises USD 77 Mn in Series E

Customer engagement platform MoEngage has raised USD 77 million in Series E funding led by Goldman Sachs Asset Management and B Capital.

MoEngage offers insights into customer behavior to help marketers and product owners engage customers across the web, mobile, email, social, and messaging channels.

“Our rapid growth is validation that consumer brands today are moving beyond campaign-centric tools and are adopting an Insights-Led Multi-Channel Approach to Customer Engagement. We now have 1200+ customers in 35 countries and 650+ global employees across our offices in the US, UK, Germany, UAE, India, Indonesia, Singapore, Vietnam, Malaysia, Philippines, and Thailand. We are thrilled to welcome Goldman Sachs Asset Management and B Capital on our journey,” said Raviteja Dodda, co-founder and CEO of MoEngage.

The fresh funds will be used for product innovation, solving engagement challenges of consumer brands, exploring strategic acquisitions and expanding its geographical footprints.

“MoEngage’s leading technology platform provides marketers with insightful, real-time data, enabling them to orchestrate and run effective campaigns to build and retain customer relationships to enhance customer lifetime value. We look forward to leveraging our global resources and network to support the ambitions and continued growth of the company,” said Rajat Sood, a managing director at Goldman Sachs Asset Management.

Last year, the firm raised two rounds of funding.“We are the leading customer engagement platform in India. We have 500+ customers in the country, including Sharechat, Flipkart, Byju’s, Ola, Domino’s, IIFL, Airtel, Ujjivan Bank, Navi, and more. We have built several product features specifically for the Indian market. We will continue investing in India and will soon open offices in Delhi, Mumbai, and Hyderabad to better support our customers and tap into talent outside Bangalore,” said Dodda.