MoEngage, a leading customer engagement platform serving brands in more than 75 countries, has secured $100 million in a new Series F funding round to strengthen its global presence and expand its artificial intelligence capabilities.

The round was led by existing investor Goldman Sachs Alternatives, alongside new co-lead investor A91 Partners. With this latest investment, MoEngage’s total funding now stands at approximately $250 million.

According to the company, about 60% of the funding represents primary investment while the remaining 40% comes from secondary share transactions.

As global consumer brands increasingly turn to digital channels to reach and retain customers, the demand for personalized, data-driven engagement continues to rise.

Companies are now prioritizing AI-powered solutions that streamline marketing processes and improve customer targeting.

MoEngage aims to meet this demand through its Merlin AI suite, which assists marketing and product teams in launching campaigns more efficiently and with precise targeting.

“We help B2C brands engage more effectively with their customers by leveraging the first-party data they already have,” said Raviteja Dodda, Co-Founder and Chief Executive Officer of MoEngage.

Over the past four years, MoEngage has significantly expanded beyond its initial base in India and Southeast Asia.

North America now accounts for more than 30% of its revenue, with Europe and the Middle East contributing around 25%, while the remaining 45% comes from India and Southeast Asia.

Goldman Sachs also previously co-led MoEngage’s Series E funding round in 2022.

Dodda noted that continued backing from Goldman Sachs demonstrates confidence in the company’s growth trajectory. “Their leadership in this round is a strong validation of our fundamentals,” he said.

MoEngage has invested heavily in developing generative and decision-making AI tools. The Merlin AI system includes automated content creation tools that can draft marketing messages, generate campaign variants, and produce natural language text paired with relevant visuals.

It also features decisioning systems that help brands determine the most effective messaging channels and timing.

The company currently works with more than 1,350 brands globally, including SoundCloud, McAfee, Domino’s, Deutsche Telekom, Kayak, Flipkart, Ola, Airtel, and Tata.

MoEngage also serves several major financial institutions such as JPMorgan Chase, Citibank, and Life Insurance Corporation of India.

In several cases, MoEngage has replaced legacy platforms from Adobe, Oracle, and Salesforce. The company claims to have helped more than 300 brands switch to its solution.

SoundCloud, for instance, transitioned over 120 million users to MoEngage within 12 weeks to enhance user engagement and retention.

Dodda reported that the company grew by around 40% year-on-year and is targeting a 35% compound annual growth rate over the next three years.

MoEngage expects to achieve adjusted EBITDA-positive status on a quarterly basis by the end of the current financial year.

The company employs about 800 staff across 15 global offices and intends to increase hiring, particularly in North America and Europe. Expansion efforts will focus on customer support, sales, marketing, and additional AI development.

MoEngage is also preparing for a potential public listing within the next few years, though no specific timeline has been disclosed.

“We see the opportunity to build a multi-billion-dollar revenue company in our space,” Dodda stated.

Source: Techcrunch