MoEngage Secures $180M to Elevate AI-Driven Customer Engagement

MoEngage, a customer engagement platform for consumer brands, has raised an additional $180 million in its Series F round. The funds will enhance MoEngage's AI suite, scale operations in North America and EMEA, and pursue acquisitions. Key markets include Southeast Asia and ANZ. The company also completed a $15 million employee tender offer.

MoEngage, a prominent customer engagement platform, has secured an impressive $180 million in its Series F funding round. The fresh capital is aimed at propelling the company's AI-driven solutions, particularly their Merlin AI suite, while expanding their global footprint, especially in North America and EMEA regions.

The recent funding round was spearheaded by new investors ChrysCapital and Dragon Funds, backed by Schroders Capital, with repeat investments from TR Capital and B Capital. This injection of funds will enable MoEngage to innovate further, enhance market strategies, and contemplate strategic acquisitions that enhance its platform capabilities.

Alongside growth initiatives, MoEngage completed a $15 million employee tender offer, benefitting 259 employees. This move reflects the company's commitment to recognizing and rewarding its team. As MoEngage continues to grow, its footprint in Southeast Asia and ANZ becomes increasingly pivotal, with partnerships with major brands such as Kredivo, Alfamart, Coca-Cola, and more, emphasizing the importance of personalized, omnichannel customer experiences.

(With inputs from agencies.)