- MoEngage, an intelligent customer analytics and cross-channel engagement platform, announced it has raised $25 million in Series C funding
MoEngage, an intelligent customer analytics and cross-channel engagement platform, announced it has raised $25 million in Series C funding. Eight Roads Ventures led the funding round with participation from F-Prime Capital, Matrix Partners India, and Ventureast. And the new funding round will be used to deepen relationships in Asia, integrate advanced capabilities into the product mix, and scale operations in the USA and Europe.
“The latest round of funding will help us reach more brands and empower them with the next-generation customer engagement platform built for the mobile-first world that is easier to use, fully integrated and intelligent,” said Raviteja Dodda, Founder & CEO at MoEngage. “We also welcome the wealth of experience and expertise that Eight Roads Ventures and F-Prime Capital brings into the boardroom with this investment.”
What MoEngage does is centralize consumer behavioral analytics, insights, and marketing automation into one dashboard where brands can engage with their customers across channels and personalize touchpoints.
“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,” added Shweta Bhatia, Partner at Eight Roads Ventures. “What differentiates MoEngage from other engagement platforms is the combination of their ever-evolving AI-enabled customer journey capabilities, industry-best channel reachability and top-notch customer support. We are thrilled to partner with Raviteja and his team as they look to expand globally.”
MoEngage’s artificial intelligence and automation platform map customer journeys and develops hyper-personalized offers, updates, recommendations and other communications across mobile, web, email and SMS. There are hundreds of global brands across 35 countries that use MoEngage to connect with over 400 million monthly active users, processing over 65 billion interactions, and 40 billion messages every month.
“MoEngage has gained the trust of marquee enterprise customers globally and further strengthened their position as market leaders in the mobile-first customer engagement and analytics space. We’re privileged to have been early partners with Raviteja and the team and to have had a ringside view of their growth journey. We welcome Eight Roads and F-Prime to the partnership,” explained Tarun Davda, Managing Director at Matrix India.
Some of the company’s customers include Deutsche Telekom, CIMB Bank, Travelodge, Samsung, McAfee, Vodafone, Future Retail, Landmark Group, Mashreq Bank, Ola, OYO, Bigbasket, and Tokopedia. And enterprise clients contribute nearly 50% of MoEngage’s total revenue.
“At Kredivo, our mission is to improve access to credit to underbanked millennials by providing fast, affordable and accessible credit directly on their mobile phone. MoEngage has been a valued partner in helping us analyze our customer behavior and improve retention and engagement through personalized experiences across various channels,” noted Akshay Garg, CEO at FinAccel.