MoEngage Bags $100 Mn From Goldman Sachs Alternatives, A91 Partners

Customer engagement platform MoEngage has raised $100 Mn (around INR Cr) in a funding round co-led by existing investor Goldman Sachs Alternatives and new investor A91 Partners.

The marketing automation SaaS startup plans to use the capital to expand its Merlin AI suite of agents, including its new offer and campaign decisioning tools for faster marketing decisions.

A part of the capital will also be used to expand go-to-market and customer success teams in North America and the EMEA region, MoEngage said in a statement.

Founded in 2014 by Raviteja Dodda and Yashwanth Kumar, MoEngage helps consumer brands amplify and scale customer engagement, serving clients ranging from startups to global enterprises.

The startup, which counts Eight Roads Ventures, Exfinity Venture Partners, Helion Venture Partners, and Z47 (formerly Matrix Partners India) among its investors, said its total funding has crossed the $250 Mn with the latest fundraise.

It last raised a Series E round of $77 Mn, co-led by Goldman Sachs and B Capital Group in 2022.

MoEngage has also been exploring a reverse flip of its base to India from San Francisco.

In a statement, MoEngage said that its North America revenue doubled over the past year and now forms the largest share of its global business, highlighting its strategic focus on international expansion.

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