Customer engagement platform MoEngage raises $77m Series E funding
Customer engagement platform, MoEngage, has raised $77 million in a Series E funding round led by Goldman Sachs Asset Management and B Capital.
There was also participation from the company’s existing investors, Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India.
This is the third fundraising undertaken by MoEngage in the last 12 months, having raised $32.5 million in July and $30 million in December 2021, taking its total investment to $178 million within eight years.
Raviteja Dodda, Co-Founder and CEO at MoEngage, says: “The current tech landscape forces marketers to be campaign centric. Multi-channel marketing tools available today are built to deliver campaign analytics and manage workflow automation.”
“What’s missing are insights into customers’ channel preferences, the best time to communicate, their likes and dislikes, the ideal omnichannel journeys, their lifestyle choices, their level of engagement with your brand, their likelihood to convert or churn, and more.”
“We not only deliver these insights using our AI engine, but also provide marketers and e-commerce teams the ability to instantly act on these insights and engage customers through personalised multi-channel lifecycle campaigns.”
Rajat Sood, a Managing Director at Goldman Sachs Asset Management, says: “We anticipate the continued expansion of the marketing automation and analytics industry.”
“As companies seek to better engage customers across digital channels, 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.”
