MoEngage Secures $180M Funding, Valued Over $900M

MoEngage, a customer engagement platform, has secured $180 million in a Series F funding round, just over a month after raising $100 million. This latest round included approximately $123 million in secondary transactions, providing liquidity to investors and employees, and $57 million in primary capital for business growth.

Led by ChrysCapital and Dragon Funds, with participation from Schroders Capital and existing investors like TR Capital and B Capital, this funding round values MoEngage at over $900 million. CEO Raviteja Dodda stated that the funds will be utilized to enhance their Merlin AI suite and expand their presence in North America and Europe.

MoEngage aims to improve decision-making for marketing teams and pursue strategic acquisitions in the U.S. and Europe. The startup, founded 11 years ago and headquartered in Bengaluru and San Francisco, currently generates over 30% of its revenue from North America and 25% from Europe and the Middle East.

MoEngage has raised about $307 million in primary funding to date. The structure of this funding round allowed early investors to liquidate their positions without pressuring the company into a premature IPO, with plans to go public in a couple of years depending on market conditions.

The company expects to achieve EBITDA positive this quarter and aims for a 35% annual growth over the next three years.