MoEngage raises $25 million led by Eight Roads Ventures, Technology News, ETtech

Illustration: Rahul Awasthi
Illustration: Rahul Awasthi

Bengaluru and San Francisco-based customer engagement platform MoEngage has raised $25 million in fresh funding led by Eight Roads Ventures and its US-based sister fund F-Prime Capital, along with participation of Matrix Partners and Ventureast.

The company, which helps brands run analytics on their customers, shares insights and automates marketing, said the investment will help it scale operations in the US and Europe, its two fastest growing markets. It will also focus on growth in Asia apart from building new products.

“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 and CEO, MoEngage.

MoEngage claims it works with customers in over 35 countries and connects with over 400 million monthly active users, processing over 65 billion interactions and 40 billion messages in a month.

It said that over 50% of its revenue today is driven by enterprise clients, the likes of which include Deutsche Telekom, Samsung, McAfee, Vodafone, Future Retail, Landmark Group, and new age brands such as Ola, OYO, Bigbasket and Tokopedia.

MoEngage’s platform allows corporations to individually target customers using insights from their past interactions. The company boasts of a easy-to-use dashboard that can simplify customer engagement insights even for non-tech workers such as marketing managers and others.

“The rapid rise of mobile has increased the complexity of how digital-first and consumer- focused enterprises interact with customers,” said 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.”

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