MoEngage Bags $100 Mn to Scale Marketing AI Agents and Expand in North America The funding comes during the company's efforts to amp up its global expansion plans, with the North America region now contributing the largest share of its revenue. The company's total funding now exceeds USD 250 million.
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MoEngage, an insights-led customer engagement platform for consumer brands, has announced that existing investor Goldman Sachs Alternatives and new investor A91 Partners have invested USD 100 million.
The funding comes during the company's efforts to amp up its global expansion plans, with the North America region now contributing the largest share of its revenue. The company's total funding now exceeds USD 250 million.
The company said that the funding will now accelerate innovation across its 'Customer Engagement Platform', with a focus on expanding Merlin AI, which is a suite of AI agents, including its newer offerings like offer and campaign decisioning agents and Glance. MoEngage will also expand its go-to-market and customer-facing teams in North America and EMEA.
"Our global momentum on top of our category leadership in Asia is a validation that consumer brands are moving beyond legacy marketing clouds. Over 300 enterprises worldwide have turned to MoEngage for its ease of use and AI-led agility, achieving time-to-value within weeks of migration. These enterprise migrations have accelerated our growth in the North America and EMEA regions," said Raviteja Dodda, CEO and Co-founder, MoEngage.
Hope Barrett, Sr. Director of Martech at SoundCloud, said, "MoEngage has been an incredible partner in our growth journey. Their platform enabled us to seamlessly migrate more than 120 million users in just 12 weeks and leverage AI-driven insights to accelerate product launches that have strengthened retention across our paid user base."
Rajat Sood, Managing Director at Goldman Sachs Alternatives, said, "Our investment in MoEngage reflects Goldman Sachs' commitment to backing category-leading technology platforms that are leveraging 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."
Kaushik Anand, Partner at A91 Partners, added, "We have gotten to know the MoEngage team over the last six years and have been impressed by their ability to constantly innovate and expand their product offerings. We are excited to back MoEngage as they look to scale their global customer footprint by empowering marketing and product teams with cutting-edge technology to build and retain customer relationships."
