Total amount raised
$210 Millions
Latest funding date
Location
MoEngage has successfully raised significant funding through multiple rounds, including a Series E round. The platform offers cloud-based marketing services, helping consumer businesses optimize customer engagement across various channels.
Keep reading to explore the intricacies of MoEngage's fundraising journey and the investors backing this innovative platform.
What Is MoEngage?
Founded in July 2014 by Raviteja Dodda and Yashwanth Kumar, MoEngage is headquartered in San Francisco, California. The company specializes in providing cloud-based marketing services for consumer businesses, helping them optimize customer engagement across various channels.
MoEngage's platform leverages machine learning to enhance the effectiveness of campaigns through in-app messaging, web, and SMS. This approach allows businesses to create personalized and impactful customer journeys.
With a team of 501-1000 employees, MoEngage continues to innovate and expand its offerings, serving over 1,350 global brands. The company's insights-led platform is designed to meet the evolving needs of marketers and product owners.
How Much Funding Has MoEngage Raised?
- Series A
- Amount Raised: $4.3M
- Date: September 2015
- Lead Investors: Helion Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $9M
- Date: December 2018
- Lead Investors: VenturEast, Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and invest in product development.
- Series C (First Round)
- Amount Raised: $25M
- Date: February 2020
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance customer engagement solutions.
- Series C (Second Round)
- Amount Raised: $32.5M
- Date: July 2021
- Lead Investors: Multiples
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and invest in AI-driven insights.
- Series D
- Amount Raised: $30M
- Date: December 2021
- Lead Investors: Steadview Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deepen market penetration and enhance platform capabilities.
- Series E
- Amount Raised: $77M
- Date: June 2022
- Lead Investors: Goldman Sachs Asset Management, B Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand geographically and explore strategic acquisitions.
Total amount raised: $178.4M. Current valuation: Not publicly disclosed.
Key Investors
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management provides investment and advisory services for leading institutions, financial advisors, and individuals globally. They manage over $2 trillion in assets as of March 31, 2022.
- Investment Focus Areas: Technology, healthcare, financial services, consumer goods.
- Notable Investments: Uber, Spotify, WeWork.
- B Capital
- Details: B Capital is a multi-stage global investment firm that partners with entrepreneurs to shape the future through technology. They manage over $3.5 billion across multiple funds.
- Investment Focus Areas: Enterprise software, fintech, healthcare, consumer enablement.
- Notable Investments: Bird, Ninja Van, Atomwise.
- Steadview Capital
- Details: Steadview Capital is a leading alternative asset management firm. They focus on public and private equity investments across various sectors.
- Investment Focus Areas: Technology, consumer, financial services.
- Notable Investments: Flipkart, Ola, Nykaa.
- Multiples Alternate Asset Management
- Details: Multiples Alternate Asset Management focuses on long-term value creation through private equity investments in mid-sized companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Financial services, healthcare, consumer products.
- Notable Investments: Dream11, Delhivery, PVR Cinemas.
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in high-growth technology and healthcare companies. They have a strong presence in multiple regions.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Alibaba, Appsflyer, Icertis.
What's Next for MoEngage?
MoEngage is poised to capitalize on significant opportunities, including expanding its geographic footprint in the U.S., Europe, Asia, and the Middle East, as well as entering new markets like Latin America and Australia. With $77 million raised in its Series E round, the company is well-positioned to pursue strategic acquisitions that will enhance its platform capabilities and drive growth.
Future fundraising opportunities appear promising, given the company's rapid growth and the increasing demand for marketing automation and analytics. However, MoEngage may face challenges such as intense competition, navigating regulatory landscapes in new regions, and integrating acquired companies effectively. Despite these hurdles, the company's strong financial backing and strategic vision suggest a bright future ahead.
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