MoEngage raises US$77 million series E funding
JAKARTA - MoEngage, a customer engagement platform for consumer brands, announced today that it has raised USD 77 million in Series E funding. This round was led by Goldman Sachs and B Capital, with participation from previous investors, Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures and Matrix Partners India. This is MoEngage's third fundraising in 12 months, having raised $32.5 million in July and $30 million in December 2021.
MoEngage will use the additional funds to deepen their geographic footprint in the US, UK and Asian markets as well as expand in new markets such as Latin America and Australia. The funds will be used to explore strategic acquisitions that can help expand the capabilities of its platform and deliver more value to customers.
In Southeast Asia, MoEngage has more than doubled its workforce across Indonesia, Singapore, Vietnam, Thailand and the Philippines. These include recent recruits Anmol Arora, Regional Director, Southeast Asia, Australia and New Zealand and Patrick Tang, Associate Director, ASEAN to lead MoEngage's business growth and strategic direction in the region, as well as country-specific sales and support for team members. This year MoEngage is also building offices in Singapore and the Philippines, plus an Australian office which will be coming soon.
Raviteja Dodda, Co-Founder and CEO, MoEngage said, “Our rapid growth is validation that today's consumer brands are moving beyond campaign-centric tools and adopting an insight-based Multi-Channel Approach to customer engagement. Innovation is also a top priority for MoEngage with the launch of Push Amplification® Plus, a trademark feature that provides the best delivery rates for push notifications in Southeast Asia. Companies across the region are already feeling the positive impact of the solution, with a proven push notification delivery rate of up to 91%.” (LM)