MoEngage, a key player in AI-powered customer engagement, raised $100 million in a Series F round led by Goldman Sachs Alternatives and A91 Partners.
This funding, split 60% primary and 40% secondary, pushes the company's total capital past $250 million. It arrives after three years since their last major raise, signaling strong investor faith in their growth.
Decoding MoEngage's Core Mission
MoEngage tackles a big challenge for brands: turning customer data into real connections.
Founded in 2014 by IIT alumni Raviteja Dodda and Yashwanth Kumar, the San Francisco and Bengaluru-based firm builds tools that analyze user behavior and send tailored messages across channels like email, mobile, and web.
Their platform stands out with Merlin AI, a set of agents that automate campaigns and decisions. Over 1,350 brands in 75 countries, including Flipkart, Domino's, and SoundCloud, rely on it to reach 2 billion users monthly.
This focus on quick, AI-guided actions helps companies shift from old-school marketing to smart, personal outreach.
Why Investors Bet Big on This Round?
This deal highlights a surge in demand for AI tools that simplify marketing in a crowded digital space. Brands want platforms that cut through data noise without heavy IT lifts, and MoEngage delivers that edge.
North America now drives most revenue, up from Asia roots, as enterprises ditch legacy systems for faster setups.
The funds target Merlin AI growth, like better offer targeting and workflow automation. Clients report cuts in launch times by half, boosting conversions.
Broader trends show AI sub-sectors like engagement platforms heating up, with investors eyeing scalable solutions amid rising ad costs and privacy rules. MoEngage's mix of proven tech and global reach makes it a smart pick now.
MoEngage Funding Timeline Overview
| Round | Year | Amount | Lead Investors | Valuation | AI Rating | Market Fit |
|---|---|---|---|---|---|---|
| Series A | 2015 | $4.3M | Helion Venture Partners | N/A | 7 | 6 |
| Series B | 2018 | $9M | Ventureast, Z47 | N/A | 7 | 7 |
| Series C | 2020 | $25M | Eight Roads Ventures | N/A | 8 | 8 |
| Series C Ext. | 2021 | $32.5M | Multiples | N/A | 8 | 8 |
| Series D | 2021 | $30M | Steadview Capital | N/A | 8 | 9 |
| Series E | 2022 | $77M | Goldman Sachs, B Capital | ~$700M | 9 | 9 |
| Series F | 2025 | $100M | Goldman Sachs, A91 Partners | N/A | 9.5 | 9.5 |
The ratings reflect the company's growth in AI sophistication (from basic ML in early rounds to advanced agent systems today) and market validation (from initial adoption to 1,350+ enterprise clients globally).
Key Deal Insights
Who led the $100M round for MoEngage?
Goldman Sachs Alternatives, an existing backer, and new entrant A91 Partners.
How will MoEngage deploy the fresh capital?
To enhance Merlin AI agents, speed up product builds, and grow sales teams in North America and Europe.
What's the total funding MoEngage has secured?
Over $250 million across eight rounds since 2014.
Company Connections at a Glance
| Platform | Link |
|---|---|
| linkedin.com/company/moengage | |
| X (Twitter) | x.com/moengage |
| facebook.com/MoEngage | |
| instagram.com/moengage |
These channels offer updates on product launches and industry insights.
Charting MoEngage's Next Phase
MoEngage eyes deeper AI integrations to handle complex journeys, aiming for even quicker value delivery. Challenges include fierce competition from giants like Braze and keeping pace with data regs.
Yet, with enterprise wins and regional shifts, they hold strong potential to lead AI engagement tools. Success hinges on nailing global scale while proving ROI in tough markets.
