MoEngage raises $100 Mn from Goldman Sachs and A91 Partners

Customer engagement platform MoEngage has raised $100 million in its Series F round from existing investor Goldman Sachs Alternatives and new investor A91 Partners. The new round has come after more than three years for the Bengaluru and San Francisco headquartered company.

The round comprises 60% primary and the remaining as secondary. With this round, MoEngage’s total funding has crossed $250 million.

The company will use the proceeds to enhance its Merlin AI suite, a set of AI agents that help consumer brands automate campaign creation, offer decisioning, and improve conversion rates. It also plans to expand its go to market and customer success teams in North America and EMEA.

“Over 300 enterprises worldwide have turned to MoEngage for its ease of use and AI led agility,” said Raviteja Dodda, chief executive officer and co-founder of MoEngage. “These enterprise migrations have accelerated our growth in the North America and EMEA regions,” he added.

Goldman Sachs, which first backed MoEngage in 2022, has doubled its investment in this round. According to Entrackr’s sources, the firm was valued at around $700 million (post money) earlier.

A MoEngage spokesperson did not comment on its current valuation.

Founded in 2014 by Dodda and Yashwanth Kumar, MoEngage offers insights led customer engagement tools that help brands target users across web, mobile, email, and messaging channels. The platform counts SoundCloud, McAfee, Flipkart, Kayak, Domino’s, and Deutsche Telekom among its clients.

The company serves over 1,350 consumer brands across 75 countries, powering digital experiences for more than 2 billion users each month. The company was recognized as a “Customers’ Choice” in Gartner Peer Insights and as a “Strong Performer” in The Forrester Wave for Cross Channel Marketing Hubs.