More Funds to Push MoEngage into LatAm and Aus

Customer analytics platform MoEngage has raised $77 Million in Series E funding, for use in expanding to Latin America and Australia, increasing its footprint elsewhere in the world, and to explore strategic acquisitions.

MoEngage's platform centralizes consumer behavioral analytics, insights and marketing automation into one dashboard, mapping customer journeys and developing hyper-personalized offers, updates, recommendations and other communications across mobile, web, e-mail and SMS.

The Indonesia-based company raised $32.5m in a Series C1 add-on round last summer, followed by another $30m in December; and three months ago announced major expansion in Europe. The latest round was led by Goldman Sachs Asset Management and B Capital, with participation from existing investors Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures and Matrix Partners India.

In the last twelve months, MoEngage says it has grown its annualized recurring revenue by 105%, added 500 new customers, and doubled its headcount to pass 650 employees across its offices in the US, UK, Germany, UAE, India, Indonesia, Singapore, Vietnam, Malaysia, Philippines and Thailand.

'To respond to the increased demand' says CEO & co-founder Raviteja Dodda (pictured), 'we ramped up our investments in R&D and US sales, customer success support, and partnership functions in the last 24 months. With this newest round of funding, MoEngage will have the ability to expand what we've been building, enter new markets, and add even more innovation to our platform. We're proud to add Goldman Sachs Asset Management and B Capital to our outstanding team of investors and look forward to our next phase of unprecedented growth'.

Web site: www.moengage.com .

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