In its Series F round, customer engagement platform MoEngage raised $100 million from new investor A91 Partners and current investor Goldman Sachs Alternatives. The company, which has its headquarters in San Francisco and Bengaluru, has been in the new round for more than three years.

Key Highlights

• MoEngage secured a $100 million financing round led by Goldman Sachs and A91 Partners.
• The fresh capital will fuel MoEngage’s global expansion, product innovation and growth in new markets.

60% of the round is primary, with the remaining portion being secondary. With this round, MoEngage has raised over $250 million in total.

The money raised will be used by the company to expand its Merlin AI suite, a collection of AI agents that assist consumer brands in automating the creation of campaigns, making decisions, and increasing conversion rates. Additionally, it intends to grow its customer success and go-to-market teams in EMEA and North America.

The CEO and co-founder of MoEngage, Raviteja Dodda, stated that "Over 300 enterprises worldwide have turned to MoEngage for its ease of use and AI led agility. Our growth in the North America and EMEA regions has accelerated due to these enterprise migrations."

In this round, Goldman Sachs, which initially supported MoEngage in 2022, has quadrupled its investment. In the current round, the company might have surpassed the $1 billion value threshold. The company was previously valued at over $700 million (post money).

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MoEngage, which was founded in 2014 by Dodda and Yashwanth Kumar, provides insights-driven consumer engagement technologies to assist organizations in targeting users across email, messaging, mobile, and web channels. Among its customers are SoundCloud, McAfee, Flipkart, Kayak, Domino's, and Deutsche Telekom.

Every month, the firm powers digital experiences for over 2 billion consumers by supporting over 1,350 consumer brands in 75 countries. The business was named a "Strong Performer" in The Forrester Wave for Cross Channel Marketing Hubs and a "Customers' Choice" in Gartner Peer Insights.