MoEngage, the Bangalore/San Francisco based mobile focused customer engagement platform, is announcing fresh fund raise as it looks to expand globally. The company has received $25 million in a new Series C round to expand aggressively into North America.
This fresh Series C was led by Eight Roads Ventures. Other participants in the round include F-Prime Capital, Matrix Partners India, and Ventureast. MoEngage, which is just about half a decade old, counts likes of Anand Chandrasekharan as investors in the $40 million that it has raised in external capital so far. Soon after launch, the company had raised a $4.2 million Series A, back in 2015.
MoEngage will use proceeds from the current round in further developing its Sherpa product, the AI Engine, Analytics and Customer Journey Orchestration, and Personalization capabilities. The company further intends to go for a full blown expansion in markets such as the US and Europe.
MoEngage claims it works with customers in over 35 countries and connects with over 400 million monthly active users, processing over 65 billion interactions and 40 billion messages in a month. It counts a slew of well-known Indian startups as well as traditional companies as its clients. One of those clients is Ola, whose COO Arun Srinivas said in a statement, “MoEngage, with its differentiated offering, scalable platform and a customer-first approach, will play an important role in enabling us to deliver contextual and relevant communications to our customers and drive higher customer lifetime value.”
MoEngage is an intuitive customer engagement platform for firms, which are primarily dealing with customers/users through mobile interface. It helps companies keep a track of their users engagement level with their respective app/website by integrating the MoEngage SDK directly into the app.
The MoEngage SDK collects data from various user entry points and culminates them all into a single, easy to navigate dashboard for companies. The level of segmentation that MoEngage provides is immense, helping companies track even the minutest of engagement metrics for their users.
While tracking user engagement is one aspect of the MoEngage package, the platform also helps companies increase engagement by providing various engagement tools. Examples of such tools include push notifications, automated yet customised emails, in-app notifications, web push notifications, SMSes among others.