MoEngage, a Bengaluru-based buyer analytics and cross-channel engagement platform, has raised $30 million in a funding spherical led by Steadview Capital at twice the valuation from its earlier C1 fundraise of $32.5 million in July, in line with the corporate’s weblog posted on Tuesday.
Current buyers Multiples Alternate Asset Administration, Eight Roads Ventures, F-Prime Capital, and Matrix Companions additionally participated within the funding spherical, the corporate stated.
In July, the corporate had raised funds from Multiples Alternate Asset Administration, Eight Roads Ventures, F-Prime Capital, and Matrix Companions, whereas Exfinity Enterprise Companions had exited in that spherical.
“We goal to proceed investments in Sherpa, our AI engine, and our predictive capabilities whereas strengthening our accomplice ecosystem,” Raviteja Dodda, the chief government officer of MoEngage, stated in the weblog put up saying the fundraise.
The corporate can even increase its international presence and strengthen its customer support and help features, Dodda added. The corporate not too long ago opened places of work in Boston, London, Berlin and Ho-Chi Minh Metropolis and has 500 workers globally, the corporate stated.
With out disclosing specifics, Dodda stated that the corporate has greater than doubled its Annual Recurring Income (ARR) over the previous twelve months.
He added that its realized annualized web retention stood at 140%.
MoEngage stated it has over 1,000 international client manufacturers throughout 35 international locations that use its product to energy digital expertise for over 900 million customers each month.
The agency stated it has added over 250 new prospects prior to now yr, together with McAfee, Nestle, Domino’s, Deutsche Telekom, Travelodge, Ally Monetary, Byju’s, and Flipkart.
Supply: Live Mint