MoEngage Raises $25 Million in Series C Round
The Series C investment round was led by Eight Roads Ventures and its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast also participated in the series.
FREMONT, CA: An intelligent customer analytics platform, MoEngage has raised $25 Million in Series C funding. The company has also achieved Amazon Web Services (AWS) Retail Competency. The round was led by Eight Roads Ventures and its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast also participated in the series. MoEngage will use this funding to deepen relationships in Asia, integrate advanced capabilities into the product mix and scale operations in the USA and Europe.
Founder & CEO, MoEngage Inc., Raviteja Dodda says that the latest round of funding will help their firm to reach more brands and strengthen them with the next-generation customer engagement platform built for the mobile-first world that is easier to use, and intelligent.
MoEngage tries to centralize three things, including marketing automation, insights, and behavioral analytics, into one platform so that brands can connect with their customers across channels and personalize touch points.
Partner at Eight Roads Ventures, Shweta Bhatia, mentioned that the rise of mobile has also increased the complexity of how digital-first and consumer-focused enterprises interact with their users. Now marketers need to seamlessly engage with customers in a personalized and real-time manner across different channels.
The AI and automation platform of the company map customer journeys and develops hyper-personalized offers, updates, recommendations, and other communications across mobile, web, email, and SMS. Several global brands around 35 countries use MoEngage to connect with over 400 million monthly active users, and processing more than 65 billion interactions every month.
In Gartner Peer Insights ‘Voice of the Customer’ Report 2019, MoEngage has received the Highest Overall Customer Ratings (4.6/5) and was also featured in the Gartner Magic Quadrant for Mobile Marketing Platform twice in a row. Customers of the company include CIMB Bank, Landmark Group, Travelodge, Samsung, McAfee, Vodafone, Future Retail, Deutsche Telekom, Mashreq Bank along with internet-first brands such as Ola, OYO, Bigbasket, and Tokopedia.