Intelligent Marketing Cloud MoEngage Raises $9 Mn from Matrix India and VenturEast
California, U.S headquartered intelligent marketing cloud for consumer businesses, MoEngage, has raised $9 million (~ ₹64 crore) in a Series B funding led by Matrix Partners India and VenturEast. MoEngage’s existing investors Helion Venture Partners and Exfinity Ventures also contributed to the round.
With the latest round, the startup has raised a total of $15.8 million in funding over three rounds.
The startup will use the fresh funds to expand its global presence, strengthen data science capabilities and roll out integrated marketing technology stack for enterprise clients.
Founded in 2014 by IIT Kharagpur alumnus, Raviteja Dodda and Yashwanth Kumar, MoEngage had raised an undisclosed amount in 2015, from Anand Chandrasekaran, the Head of Platform & Product Partnerships for Messenger at Facebook. Anand had then joined MoEngage’s advisory panel.
Built for the Mobile-first world, MoEngage enables hyper-personalization at scale by analyzing 200+ million users and delivering 10+ billion interactions every month. With MoEngage, companies can orchestrate campaigns across channels like push, email, in-app messaging, web push and SMS, with auto-optimization towards higher conversions powered by machine learning.
With presence across Asia, Europe and the US, MoEngage claims to be the leader in the mobile engagement market. The 4-year-old company works with Consumer businesses across the world including Fortune 500 brands like Samsung, Deutsche Telekom, Hearst, Prudential, Vodafone and Internet-first companies like Flipkart Group, Tokopedia, Traveloka, Gaana, and Oyo.
Source: IndianWeb2
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