AI marketing platform MoEngage banks $25m in series C round

MoEngage, an AI-powered customer engagement platform, announced that it has raised US$25 million in a series C funding round led by Eight Roads Ventures, along with participating investors F-Prime Capital, Matrix Partners India, and Ventureast.

The startup said it will use the new funds to invest further in initiatives related to customer experience and accelerate product innovation across AI, analytics, and customer personalization capabilities. It will also deepen its relationships in Asia and scale its operations in the US and Europe, its two fastest-growing markets.

Yashwanth Kumar (left) and Raviteja Dodda / Photo credit: Moengage

Founded in 2014, MoEngage centralizes consumer behavioral analytics, insights, and marketing automation into one dashboard where brands can engage with their customers across channels. With AI and analytics, the platform enables personalization across channels like mobile push, email, in-app, web push, on-site messages, and SMS.

“The rapid rise of mobile has increased the complexity of how digital-first and consumer-focused enterprises interact with customers. Marketers now need to seamlessly engage with customers in a personalized and real-time manner across different channels,” said Shweta Bhatia, partner at Eight Roads Ventures.

Raviteja Dodda, the co-founder and CEO of MoEngage, said that the latest round of funding will help the company reach more brands.

According to a statement, MoEngage has served several global brands across 35 countries, including Samsung, Vodafone, McAfee, Ola, Oyo, and Tokopedia, among others. It has offices in Bengaluru, San Francisco, Jakarta, Berlin, London, Dubai, Singapore, Ho Chi Minh, and Bangkok.

In 2015, the company secured US$4.3 million in a series A round led by Helion Venture Partners, followed by a US$9 million series B round led by Matrix Partners India and Ventureast in 2018.