MoEngage Intelligence Powered Customer Engagement Platform Delivers Double Business Growth, Double Global Headquarters in 2021
LondonAnd the June 2, 2022 /PRNewswire/- MoEngageToday, the knowledge-based customer engagement platform announced that it has raised $77 million in Series E funding. The round was led by Goldman Sachs Asset Management and B Capital, with the participation of the company’s existing investors: Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures and Matrix Partners India. This is the third fundraising operation conducted by the ministry in the past 12 months, as it raised $32.5 million in July and $30 million in December 2021, bringing its total investment to $178 million in 8 years.
MoEngage helps consumer brands and online retailers take a more customer-centric approach through data-driven customer engagement and other insights, explained Ravita DodaCo-Founder and CEO of MoEngage:
“The current technology landscape is forcing marketers to focus on campaigns. The omnichannel marketing tools available today are designed to provide campaign analytics and manage workflow automation. What is missing is insight into customer channel preferences, best time to connect, likes and dislikes, and multiple ideal journeys Channels, their lifestyle choices, their level of interaction with your brand, likelihood of them converting or opting out, etc. Not only do we deliver this insight using our AI engine, but we also give marketers and e-commerce teams the ability to act instantly on that insight. and engaging customers through customized, multi-channel lifecycle campaigns. »
” Previously our approach to sharing was very traditional, but with digitization we have been able to explore new avenues and see that even our customers are excited to be more connected. with An interaction platform powered by MoEngage data, we have created a seamless digital customer interaction where we connect with our customers using personalized communications ‘, announced Kirsten Thinerproduct owner at Magenta Telekom.
“Connecting with our customers in a meaningful way is key to our success as a company. MoEngage puts us at our fingertips with actionable insights to create the most relevant experiences for our customers and expand our customized approach across all channels,” announce Deepak ThakralMcAfee, vice president of consumer affairs.
Soud RajatManaging Director of Goldman Sachs Asset Management said: We anticipate continued expansion of the marketing automation and analytics industry. As businesses strive to better connect with their customers via digital channels, MoEngage’s industry-leading technology platform provides marketers with relevant data in real time, enabling them to organize and manage effective campaigns to create and maintain customer relationships to enhance their lifelong value. We look forward to leveraging our global resources and network to support the company’s ambitions and continued growth. »
Over the past 12 months, MoEngage has increased its annual recurring revenue (ARR) from 105%, added 500 new customers to the list of global brands and retailers they support, and doubled its workforce to more than 650 people worldwide. The company has a very good annual net income retention rate of over 135% and has been named a “High Performance Company” in the report Forester Wave Q3 2021 regarding omnichannel campaign tools.
Dodda added: We have accelerated our investments in local sales, support and partner functions over the past 24 months, which has allowed us to experience rapid growth in the UK and Europe. We now have over 60 clients, including Travelodge, Deutsche Telekom and Nestlé, who receive local support from our offices in London and Berlin. We have a strong network of more than 15 partners who provide consulting services and help us expand our platform capabilities through Europe. The additional capital will allow us to grow our team and partner network and build AI product capabilities in the region. We will also explore strategic acquisitions that can help expand our platform capabilities and provide more value to our customers. »
MoEngage is an insight-driven customer engagement platform trusted by over 1,200 global consumer brands such as Ally Financial, McAfee, Flipkart, Domino’s, Nestlé, Deutsche Telekom, Travelodge and more. MoEngage gives marketers and product owners insights into customer behavior and the ability to act on that insight to engage customers across the online, mobile, email, social media, and messaging channels. Consumer brands in 35 countries use MoEngage to deliver digital experiences to more than 1 billion customers each month. With offices in ten countries, MoEngage is backed by Goldman Sachs, B Capital, Steadview Capital, Multiples Private Equity, Eight Roads, F-Prime Capital, Matrix Partners, Ventureast and Helion Ventures.
MoEngage was rated “high performance” in the report Forester Wave Q3 2021 for Cross-Channel Campaign Management and as a “Leader” in Gartner’s 2020 Magic Quadrant for Mobile Marketing Platforms. Battery Ventures ranked it one of the top 25 private cloud companies ranked to operate in 2021.
To find out more, visit the website www.moengage.com
About Equity for Asset Management Growth at Goldman Sachs
By combining traditional and alternative investments, Goldman Sachs Asset Management offers clients around the world a customized partnership and a focus on long-term performance. As Goldman Sachs’ (NYSE:GS) core investment business, we provide investment and advisory services to leading institutions, financial advisors and individuals around the world, leveraging our deeply connected global network and tailored, specialized knowledge, across all regions and markets. We oversee more than $2 trillion in assets worldwide as of March 31, 2022. Goldman Sachs Asset Management invests across a full range of alternative products, including private equity, growth capital, private credit, real estate and infrastructure. Since 2003, Goldman Sachs Asset Management’s growth business, employing more than 75 people, has invested more than $13 billion in companies led by visionary founders and CEOs. We focus exclusively on investing in growth stage companies that are technology driven, spanning multiple sectors including enterprise technology, fintech, consumer and healthcare. Follow us LinkedIn
About B Capital
B Capital is a global, multi-phase investment firm that partners with extraordinary entrepreneurs to shape the future through technology. With more than $3.5 billion in assets under management across multiple funds, we focus on early to late stage growth investments, primarily in the corporate, fintech, and healthcare sectors. Founded in 2015, B Capital leverages an integrated team across eight locations in the US and Asia, as well as a strategic partnership with BCG, to provide the value-added support entrepreneurs need to expand quickly and effectively, expand into new markets and build exceptional businesses. To learn more, click over here.
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