Customer engagement platform MoEngage, a prominent SaaS exporter from India, continues its global ascent with a substantial $100 million investment. Led by Goldman Sachs Alternatives and A91 Partners, this round elevates their total funding beyond $250 million.
The insights-led platform is experiencing rapid global expansion, with North America now being the primary revenue contributor. The new funding will expedite innovation across MoEngage’s platform, particularly the Merlin AI suite. This suite is designed with AI agents that assist B2C marketing and product teams in accelerating campaign launches and scaling conversions using AI-driven decision-making. Additionally, the company plans to broaden its go-to-market and customer success teams in North America and EMEA to facilitate this growth phase.
According to Raviteja Dodda, CEO and Co-founder of MoEngage, their global momentum, combined with their category leadership in Asia, validates the shift of consumer brands away from traditional marketing clouds. Over 300 enterprises worldwide have chosen MoEngage for its ease of use and AI-driven agility, achieving rapid time-to-value after migrating. He also expressed excitement about partnering with Goldman Sachs and A91 Partners.
Tarun Davda, Managing Director at Z47, remarks that Ravi and the MoEngage team have been instrumental in building a globally significant SaaS company from India. He highlights their execution-focused, customer-obsessed, and product-led approach. He congratulates the entire team on achieving this milestone and anticipates their future growth.
Rajat Sood, a Managing Director at Goldman Sachs Alternatives, emphasizes that their investment in MoEngage reflects a commitment to supporting category-leading tech platforms leveraging AI for global enterprises. He states that through their global network, expertise, and capital, they aim to assist the company in accelerating growth, entering new markets, and delivering sustained value to its customers.
Kaushik Anand, Partner at A91 Partners, mentions their longstanding relationship with the MoEngage team. He praises their continuous innovation and expansion of product offerings. He expresses excitement in backing MoEngage as they aim to scale their global presence, empowering marketing and product teams with advanced technology to cultivate and maintain customer relationships.
Throughout the years, MoEngage has established itself as a trusted enterprise software platform from India, serving over 1,350 global consumer brands, including SoundCloud, McAfee, Flipkart, Domino’s, and Deutsche Telekom. Their platform currently delivers personalized engagement to over 2 billion users monthly across 75 countries.
Hope Barrett, Sr. Director of Martech at SoundCloud, affirms that “MoEngage has been an incredible partner in our growth journey. 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.”
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