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Consumer engagement platform MoEngage on Wednesday (November 5) announced that it has raised $100 million from existing investor Goldman Sachs Alternatives and new investor A91 Partners as the company accelerates global expansion with North America now contributing the largest revenue share.
With this round, MoEngage’s total funding exceeds $250 million.
The fresh funds will accelerate innovation across MoEngage’s Customer Engagement Platform, with a focus on expanding Merlin AI, a suite of AI Agents, including its newer Offer and Campaign Decisioning Agents, that help marketing and product teams at B2C brands launch campaigns faster and scale conversions with AI decisioning.
Glance, for example, reduced campaign go-live times by 50% using Merlin AI. MoEngage will also expand its go-to-market and customer success teams in North America and EMEA to support continued growth.
Raviteja Dodda, CEO and Co-founder, MoEngage said that the company's global momentum in Asia shows that consumer brands are moving beyond legacy marketing clouds.
"Over 300 enterprises worldwide have turned to MoEngage for its ease of use 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,” Dodda said, adding that the company is excited to partner with Goldman Sachs and A91 Partners.
Rajat Sood, a Managing Director at Goldman Sachs Alternatives, said, “Our investment in MoEngage reflects Goldman Sachs’ commitment to backing category-leading technology platforms that are leveraging AI for serving enterprises globally. By leveraging our global network, expertise, and capital, we look forward to helping the company accelerate growth, expand into new markets, and deliver lasting value to its customers.”
Kaushik Anand, Partner at A91 Partners, added, “We have gotten to know the MoEngage team over the last six years and have been impressed by their ability to constantly innovate and expand their product offerings. We are excited to back MoEngage as they look to scale their global customer footprint by empowering marketing and product teams with cutting-edge technology to build and retain customer relationships.”
With headquarters in Bengaluru and San Francisco, MoEngage has partnered with over 1,350 global consumer brands including SoundCloud, McAfee, Flipkart, Kayak, Domino’s, Deutsche Telekom, Travelodge, and more.
With headquarters in Bengaluru and San Francisco, MoEngage has partnered with over 1,350 global consumer brands including SoundCloud, McAfee, Flipkart, Kayak, Domino’s, Deutsche Telekom, Travelodge, and more.
Consumer brands across 75 countries use MoEngage to power digital experiences for over 2 billion people every month.
Founded in 2014, the SaaS platform empowers marketers and product owners with insights into customer behavior and the ability to act on those insights to engage customers across web, mobile, email, social, and messaging channels.
“MoEngage has been an incredible partner in our growth journey,” said Hope Barrett, Sr. Director of Martech at SoundCloud. “Their platform enabled us to seamlessly migrate more than 120 million users in just 12 weeks and leverage AI-driven insights to accelerate product launches that have strengthened retention across our paid user base.”
Its Merlin AI suite, a team of AI agents, enables marketers to launch campaigns faster and scale conversions with AI Decisioning.
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