MoEngage raises over Rs 63 cr from Matrix Partners, VenturEast, other investors

Intelligent marketing cloud platform MoEngage Inc., Tuesday said it has raised over Rs 63 crore (USD 9 million) in a funding round led by Matrix Partners India and Ventureast.

In a statement, the California-based firm founded by Raviteja Dodda and Yashwanth Kumar said that existing investors Helion Venture Partners and Exfinity Ventures also participated in the latest round.

MoEngage will utilise the fresh capital to expand global presence, strengthen its data science capabilities and roll-out its integrated marketing technology stack for enterprise clients with user engagement, analytics, and personalisation products, the company said.

The funding comes at a time when we are looking to establish category leadership in Asia, grow our presence in North America and Europe and enhance our widely recognised artificial intelligence (AI) Engine Sherpa,? Raviteja Dodda, Founder and CEO, MoEngage said.

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The unprecedented growth in mobile interactions and messaging, coupled with rising customer expectations has created an engagement gap for many brands, he noted.

MoEngage has built an enterprise solution for brands to deliver personalised engagement at any touchpoint, powered by machine learning, he added.