MoEngage Secures $100 Million to Enhance AI Marketing and Expand Globally

MoEngage Secures $100 Million to Elevate Marketing AI Agents

In an exciting development for the marketing technology sector, MoEngage, an AI-led customer engagement platform, has successfully raised $100 million in a recent funding round. This investment was spearheaded by Goldman Sachs Alternatives and A91 Partners, reflecting a growing global interest in advanced marketing technologies powered by artificial intelligence.

Capitalizing on Market Demand

This influx of capital is set to accelerate MoEngage’s innovation in product development and expand its footprint across North America, Europe, the Middle East, and Africa (EMEA). The company has accumulated over $250 million in total funding to date, positioning it as a frontrunner in the AI-powered customer engagement landscape.

The funds will principally aid in scaling the company’s flagship product, the Merlin AI suite, which features intelligent agents designed specifically for marketing and product teams. These agents assist businesses in making informed, data-driven decisions, automating campaign management, and ultimately enhancing customer conversion rates.

A Testimony to Success

Raviteja Dodda, the CEO and Co-founder of MoEngage, expressed that the company's growth momentum and leadership in Asia validate a shift away from traditional marketing strategies utilized in the past. Over 300 enterprises globally have recognized the agility, reliability, and usability of MoEngage’s AI-led solutions. This recent funding round is anticipated to empower the company's expansion in North America and EMEA significantly.

MoEngage boasts an impressive clientele of more than 1,350 global brands, including notable names like SoundCloud, McAfee, Domino's, Deutsche Telekom, and Travelodge, impacting over two billion consumers each month.

Hope Barrett, Senior Director of Martech at SoundCloud, praised MoEngage for its pivotal role in their growth journey, stating, “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.”

Strategic Growth Plans

Rajat Sood, a Managing Director at Goldman Sachs Alternatives, emphasized the commitment behind the investment, reiterating the goal to support leading technology platforms leveraging AI for better enterprise solutions. The partnership aims to leverage Goldman Sachs' global network and expertise to expedite MoEngage’s growth and market penetration.

Kaushik Anand, Partner at A91 Partners, shared his insight regarding MoEngage’s capacity for continuous innovation. He expressed excitement in supporting the company as it aims to expand its customer base by equipping marketing and product teams with cutting-edge technology.

Focus on Key Markets

As a major growth frontier, the UK and European markets have been strategically selected for expansion by MoEngage. The company plans to hire more talent across North America and Europe to enhance its customer success, support, sales, and marketing operations. With a robust workforce of approximately 800 employees globally, this growth strategy will strengthen their market presence.

MoEngage’s expansion efforts will focus on crucial European markets, collaborating with leading companies in retail, e-commerce, financial services, and telecom. In doing so, MoEngage aims to provide businesses with the tools to unify and manage structured customer data effectively, allowing them to deliver personalized and omnichannel marketing experiences.

Looking Ahead

The development comes at a time when the demand for AI-driven customer engagement platforms is rapidly increasing amid rising digital transformation initiatives across economies. MoEngage aims to support enterprises in enhancing customer loyalty and retention, tailoring solutions to fit the competitive digital landscape in the UK and Europe.

Avendus acted as the exclusive financial advisor to MoEngage throughout this funding round, underscoring the significance of this investment.

MoEngage, with operations in Bengaluru and San Francisco, continues to empower marketers and product managers, helping them derive insights from customer behavior and effectively engage consumers across multiple channels including web, mobile, email, and messaging. Its innovative approach has appreciated recognition, including being named a Customers' Choice in Gartner Peer Insights™ Voice of the Customer for Multichannel Marketing Hubs by May 2025.

To learn more about MoEngage and its offerings, visit www.moengage.com.