Singapore – Global insights-led customer engagement platform MoEngage has raised US$77m in its latest series E funding, and is aiming to deepen its global footprint to the US, UK, and Asia markets and also expand in new markets like LATAM and Australia. They are also aiming to explore strategic acquisitions that can help extend its platform capabilities and provide more value to customers.
This is the third fundraising for the company in the last 12 months, having raised US$32.5m in July and US$30m in Dec 2021. This round was led by Goldman Sachs and B Capital, with participation from the company’s existing investors Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India.
Within Southeast Asia, MoEngage has doubled its headcount across Indonesia, Singapore, Vietnam, Thailand, and the Philippines. This includes new hires Anmol Arora, regional director for SEA & ANZ and Patrick Tang, associate director for ASEAN to lead the business growth and strategic direction of MoEngage in the region, as well as in country-specific sales and support team members. The firm launched offices in Singapore and Philippines this year, with an Australian office coming soon.
Raviteja Dodda, co-founder and CEO of MoEngage, said, “Our rapid growth is validation that consumer brands today are moving beyond campaign-centric tools and are adopting an insights-led multi-channel approach to customer engagement. Innovation has also been a key priority for MoEngage, with the launch of ‘Push Amplification Plus’, a trademark feature that provides the best delivery rates for push notifications in Southeast Asia. Businesses across the region have already seen positive impacts from the solution, with proven push notification delivery rates of up to 91%.”
Meanwhile, Saurabh Madan, vice president & general manager of SEA and ANZ, MoEngage said, “As the Southeast Asian region continues to digitise rapidly, we have only strengthened our commitment to the region to help businesses navigate the future economy. Our investments have resulted in the adoption of MoEngage’s platform by over 220 consumer brands in Southeast Asia, and a new milestone of over 100 customers in Indonesia.”
He added, “Today, MoEngage partners with some of the leading brands in the region, including Alfagift, AllValue, Astrapay, Blibli, CIMB Bank, JD.ID, Lummo, POPS, Syfe, Telekom Malaysia, theAsianparent, XL Axiata. MoEngage has seen more than twice the growth in Southeast Asia over the last year and we look forward to building on this momentum in the future.”