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AWS specialist MoEngage raises $25M to fuel growth plans
- 12 February, 2020 10:00
MoEngage, a specialist Amazon Web Services (AWS) partner, has raised $25 million in Series C funding to scale operations in Asia, USA and Europe.
Born in Asia with offices in Indonesia and India, the US-headquartered business operates as a customer analytics and cross-channel engagement platform, built on AWS Cloud with deep retail expertise.
The funding round was led by Eight Roads Ventures with participation from its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast.
Investment will be used to “deepen relationships” in Asia while integrating advanced capabilities into the product mix, in addition to scaling operations in the USA and Europe, builded as the company’s two fastest-growing markets.
“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,” said Raviteja Dodda, founder and CEO of MoEngage. “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 - fresh from achieving AWS Retail Competency - centralises consumer behavioural analytics, insights and marketing automation into one dashboard, allowing brands to engage with customers across channels and personalise touchpoints.
“The rapid rise of mobile has increased the complexity of how digital-first and consumer-focused enterprises interact with customers,” added Shweta Bhatia, partner of Eight Roads Ventures. “Marketers now need to seamlessly engage with customers in a personalised and real-time manner across different channels.
“What differentiates MoEngage from other engagement platforms is the combination of their ever-evolving artificial intelligence [AI]-enabled customer journey capabilities, industry-best channel reachability and top-notch customer support.”
MoEngage's AI and automation platform maps customer journeys and develops hyper-personalised offers, updates, recommendations and other communications, spanning mobile, web, email and SMS.
With presence across 35 countries, MoEngage is used to connect with over 400 million monthly active users, processing more than 65 billion interactions and 40 billion messages each month.
Key customers include Deutsche Telekom, CIMB Bank, Travelodge, Samsung and McAfee, alongside Vodafone, Future Retail, Landmark Group and Mashreq Bank. This is in addition to brands such as Ola, OYO, Bigbasket, and Tokopedia, with enterprise clients contributing almost 50 per cent of MoEngage’s total revenue.
“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,” said Tarun Davda, managing director of Matrix India. “We’re privileged to have been early partners with Raviteja and the team and to have had a ringside view of their growth journey."