Another $180 Million for MoEngage

Customer engagement platform MoEngage has raised another $180 million as part of its Series F round, adding to $100 million secured just last month. Funds will be used to accelerate innovation for the Merlin AI suite, scale go-to-market teams in North America and EMEA, and explore strategic acquisitions.

Headquartered in Indonesia and with major offices in Bengaluru and San Francisco, MoEngage describes itself as an insights-led customer engagement platform. The firm provides data on customer behavior, allowing marketers and product owners to engage customers across web, mobile, email, social and messaging channels.

Having recently launched the Merlin AI suite, including agents which allow marketers to launch campaigns faster and scale conversions with AI Decisioning, MoEngage is currently adding to its Product Teams suite with the launch of new features in MoEngage Analytics - which helps to bridge the gap between insight and action, linking behavioral data with immediate engagement; and MoEngage Inform, which streamlines critical transactional messaging, such as OTPs, account updates and service updates, via a single API across messaging channels and delivery providers.

The latest raise was led by new investors ChrysCapital and Dragon Funds, alongside Schroders Capital, with continued participation from current investors TR Capital and B Capital.

While bringing in this major investment, MoEngage says it has completed a second employee tender offer, totalling around $15m and benefitting some 259 current and former employees. CEO and co-founder Raviteja Dodda (pictured) comments: 'At MoEngage, we believe our success is a collective effort, built on a culture of ownership and innovation. It is vital that we recognize the people who brought us to this stage. This liquidity program reflects that commitment by ensuring that the builders of MoEngage, our employees, and early investors have the opportunity to directly share in the milestones we achieve together.'

The firm, which has around 800 staff, is on the web at www.moengage.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.