MoEngage, Bengaluru-based customer analytics and cross-channel engagement platform, recently said that the startup has raised $25 mn in a Series C funding round led by Eight Roads Ventures. The round also saw participation from Eight Roads’ US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast.
The funds raised will be utilised to expand relationships in Asia, develop advanced capabilities into the product portfolio and scale ops in the US and Europe, MoEngage’s two fastest-growing markets, the startup said in a statement.
“The latest round of funding will help MoEngage reach more brands and empower them with the next-gen customer engagement platform built for the mobile-first world that is easier to use, fully integrated and intelligent,” stated Raviteja Dodda, Founder & CEO, MoEngage.
Founded by IIT Kharagpur alumnus, Raviteja Dodda and Yashwanth Kumar, Bengaluru- and San Francisco-based MoEngage centralises user behavioral analytics, insights and marketing automation into a single dashboard where brands are able connect with their customers across channels and personalise different touchpoints like mobile, e-mail, in-app, web, and SMS.
The company claims that hundreds of global brands across 35 countries use its platform to reach more than 400+ million monthly active users, processing over 65+ billion interactions and 40+ billion messages every month.
Currently, enterprise clients including Vodafone, Samsung, Tokopedia, OYO, Future Retail, etc. make up nearly 50 per cent of MoEngage’s total revenue by enabling hyper-personalisation solutions, consumer analytics and marketing automation capabilities.
MoEngage had raised $9 million in Series B funding led by Matrix Partners and Ventureast in December 2018. Existing investors Helion Venture Partners and Exfinity Venture Partners also participated in the funding round.
