Having recently achieved Amazon Web Services (AWS) Retail Competency, MoEngage, intelligent customer analytics and cross-channel engagement platform, has raised $25 Million in Series C funding. Eight Roads Ventures led the round with participation from its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast.
The new round of funding will be used to deepen relationships in Asia, integrate advanced capabilities into the product mix and scale operations in the USA and Europe, MoEngage’s two fastest-growing markets.
Raviteja Dodda, Founder & CEO, MoEngage Inc, said,“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. We also welcome the wealth of experience and expertise that Eight Roads Ventures and F-Prime Capital brings into the boardroom with this investment.”
MoEngage centralizes consumer behavioral analytics, insights and marketing automation into one dashboard where brands can engage with their customers across channels and personalize touchpoints.
Shweta Bhatia, Partner at Eight Roads Ventures, stated, “The rapid rise of mobile has increased the complexity of how digital-first and consumer-focused enterprises interact with customers. Marketers now need to seamlessly engage with customers in a personalized and real-time manner across different channels. 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. We are thrilled to partner with Raviteja and his team as they look to expand globally.”
Tarun Davda, Managing Director, Matrix India, added, “MoEngage has gained the trust of marquee enterprise customers globally and further strengthened their position as market leaders in the mobile-first customer engagement and analytics space. We’re privileged to have been early partners with Raviteja and the team and to have had a ringside view of their growth journey. We welcome Eight Roads and F-Prime to the partnership.”
MoEngage's AI and automation platform map customer journeys and develops hyper-personalized offers, updates, recommendations and other communications across mobile, web, email and SMS- thus delivering an omnichannel experience. Hundreds of global brands across 35 countries use MoEngage to connect with 400+ million monthly active users, processing over 65+ billion interactions and 40+ billion messages every month.