MoEngage, a Bangalore-based startup which provides user analytics and automated mobile marketing platform for mobile apps, is now planning for global expansion after raising its first round of institutional funding of $4.25 million.
The funding round was led by Helion Venture Partners, with participation of Exfinity Ventures and a few angel investors – Kunal Bahl & Rohit Bansal, founders of Snapdeal and Raghunandan, founder of TaxiForSure.
Founded in 2014 by Yashwanth Kumar and Raviteja Dodda, MoEngage helps mobile apps to personalize push notifications, in-app notifications, and email campaigns, and deliver them at the right time to boost user engagement. Earlier this month, it raised venture funding of $2.6 million.
It’s platform automatically identifies where you, as a dev, are acquiring users from and measures the effectiveness of each acquisition source or campaign. It also welcome users through Personalized Native In-App interactions. It collects user’s data with real-time segmentation capabilities. It enables you to track uninstalled users and discover the insights through Un-install analysis so that you can re-engage them through Smart Email Campaigns.
The company is now planning to use its newly raised capital to work on the next iteration of its mobile marketing automation platform for B2C companies. In fact, it has already announced three new features.
The first feature tracks the uninstalled apps and its reason to let developer know to get that user back. The second features geo-fencing for more customized push notifications based on the user’s location and third feature helps companies create more refined email campaigns.
It is claimed to be the India’s largest company when it comes to mobile marketing automation platform, with more than 20 percent of smartphone users in the country and delivering 1 billion personalized interactions every day. It’s clientele includes some biggest ventures of India, such as Snapdeal, TaxiForSure, Gaana, and Redbus among others.
Raviteja Dodda, CEO of MoEngage, said,
We have been working in stealth mode with the largest internet companies and built out the next generation mobile marketing automation platform for B2C companies. We have seen tremendous growth in the very first year of our journey, becoming the number one mobile marketing automation platform in India. With this funding, we will double down on product innovation along with geographical expansion in US and emerging markets.
Rahul Chandra of Helion Venture Partners, said,
We are pleased to see what MoEngage has accomplished in the Indian Mobile market. As they have grown, they have become a crucial tool in the hands of Mobile App companies and marketers. We are excited to help the MoEngage team continue their success overseas and expand their client base globally.
There are many other mobile marking automation companies out there but as per the company, the key differentiation factor for MoEngage is “the most advanced user-level personalization and real-time segmentation capabilities when compared to all other players in our space.”
