AI marketing firm MoEngage secures $100 mn funding for global growth

Customer engagement platform plans to expand its technology suite and teams

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MoEngage, which uses artificial intelligence (AI) to help companies in marketing, has raised $100 million from existing investor Goldman Sachs Alternatives and new investor A91 Partners.

 

The company has more than $250 million in funding as it expands globally. North America accounts for the largest share of MoEngage’s revenue, highlighting its position as a leading AI-driven customer engagement platform, it said.

 

The company will use the funding for its customer engagement platform, including tools that help consumer brands speed up campaign launches and boost conversions. MoEngage also plans to expand its sales and customer success teams in North America and Europe, the Middle East and Africa to support growth. The company declined to reveal its new valuation after the funding round.

 

“Today, our suite of AI agents helps marketers launch campaigns faster, experiment more, and scale conversions through AI-driven decisioning,” Raviteja Dodda, chief executive officer and co-founder, MoEngage, told ‘Business Standard’.

 

More than 300 companies worldwide have engaged MoEngage’s services for their ease of use and AI-led agility, achieving time-to-value within weeks of migration, he said. Glance, a client of MoEngage, cut campaign launch times by 50 per cent using Merlin, a suite of AI agents. Dodda said the company will spend about 40 per cent of its new investments on AI-driven product development.

 

Rajat Sood, a managing director at Goldman Sachs Alternatives, said the investment in MoEngage reflects his company’s commitment to backing category-leading technology platforms that use AI for serving enterprises globally. “By leveraging our global network, expertise, and capital, we look forward to helping the company accelerate growth, expand into new markets, and deliver lasting value to its customers,” said Sood.

 

Kaushik Anand, partner at A91 Partners, said: “We have been impressed by MoEngage’s ability to innovate and expand its product offerings. We’re excited to back them as they scale globally and empower marketing and product teams with cutting-edge technology.”

 

More than 300 enterprises worldwide have migrated to MoEngage’s platform from legacy marketing systems, achieving measurable gains in speed, scalability, and return on investment.

 

In India, the company counts Swiggy, Flipkart, Ola, Airtel, and Policybazaar among its clients.

 

Hope Barrett, senior director of martech at SoundCloud, said: “MoEngage enabled us to seamlessly migrate more than 120 million users in just 12 weeks and leverage AI-driven insights to accelerate product launches that strengthened user retention.”