Buyer analytics and cross-channel engagement platform MoEngage has raised $77 million ( ₹596 crore) in Collection E funding led by Goldman Sachs Asset Administration and B Capital. Current buyers Steadview Capital, Multiples Alternate Asset Administration, Eight Roads Ventures and Matrix Companions India additionally participated within the spherical.
That is Goldman Sachs Asset Administration’s first wager in an Indian software-as-a-services (SaaS) firm.
MoEngage will use the capital to broaden its footprint within the US, Europe, Asia and the Center-East, moreover coming into new markets like Latin America and Australia. It is going to additionally discover strategic acquisitions to broaden its capabilities and supply extra worth to clients. The Bengaluru-based firm had raised $32.5 million in July and one other $30 million in December.
“Shopper manufacturers are transferring past campaign-centric instruments and adopting an insights-led multi-channel strategy to buyer engagement,” stated MoEngage chief government Raviteja Dodda.
Its centralised behavioural analytics, insights and advertising and marketing automation permit clients to interact with their shoppers throughout channels and personalise touchpoints. Its clients embody Sharechat, Flipkart, Byju’s, Domino’s, IIFL, Ola, Airtel, Ujjivan Financial institution and Navi.
“We have now over 1,200 clients throughout 35 nations and 650-plus world staff in our workplaces in India, the US, the UK, Germany, the UAE, Indonesia, Singapore, Philippines, Vietnam, Malaysia and Thailand,” Dodda, a former Cisco Methods government.
MoEngage was based by Doda and Yashwanth Kumar in 2014. Earlier the duo had co-founded Pipal Tech Ventures, a tech agency focussed on creating cellular, social and location-based merchandise.
The corporate plans to open workplaces in Delhi, Mumbai and Hyderabad to supply higher assist to clients and faucet into the expertise pool outdoors Bengaluru. Within the final 12 months, its annualized recurring income (ARR) grew greater than 105%. It added 500 shoppers.
“We anticipate a continued growth of selling automation and analytics…. MoEngage’s main platform affords entrepreneurs insightful, real-time knowledge…,” stated Rajat Sood, managing director Goldman Sachs Asset Administration.
Supply: Live Mint