MoEngage, a leading customer engagement platform that collaborates with consumer brands across more than seventy-five nations, has announced a fresh influx of capital to accelerate its worldwide expansion and integrate more sophisticated artificial intelligence tools into its offering. This latest funding initiative is spearheaded by its current backer, Goldman Sachs Alternatives, underscoring a deepening commitment to the company’s vision of transforming customer interactions through data-driven intelligence. In total, one hundred million dollars’ worth of shares changed hands during this round, which was categorized as Series F. Approximately sixty percent of the transaction represented new primary shares intended to drive growth, while the remaining forty percent consisted of secondary sales among existing shareholders. Notably, the round marked the inclusion of a new investor, the Indian venture capital firm A91 Partners. With this new investment, MoEngage’s cumulative fundraising now stands at roughly two hundred and fifty million dollars.
As global consumer brands increasingly depend on digital ecosystems to communicate with their audiences, the fight for customer attention has grown progressively fierce. This intensifying competition has motivated companies to harness the potential of the customer information already at their disposal, seeking smarter ways to tailor messaging for each individual. Traditional marketing automation solutions—offered by long-standing technology giants—still hold a strong presence in this domain. However, modern businesses are shifting toward advanced, AI-empowered systems that promise to automate complex decisions, cut down manual workloads, and deliver insights with unprecedented speed. MoEngage has strategically placed itself at this juncture with its proprietary Merlin AI suite. This technology empowers marketing and product teams to rapidly design, test, and optimize campaigns while improving targeting precision and audience segmentation.
In an interview, MoEngage’s co-founder and CEO, Raviteja Dodda, explained that the company enables business-to-consumer brands to interact more thoughtfully and efficiently with their customers by utilizing the first-party data they already gather from multiple touchpoints. Over the past eleven years since its founding, MoEngage has evolved from a regional player into a truly global enterprise. During its first seven years, the company focused its operations primarily on India and the markets across Southeast Asia, gaining deep regional expertise and a solid client base. Over the subsequent four years, MoEngage shifted gears toward international growth, entering new geographies—most notably North America—which now contributes more than thirty percent of the company’s total revenue. Europe and the Middle East collectively bring in around a quarter of its revenue, while the remaining business continues to thrive across India and Southeast Asia.
Goldman Sachs’s leadership in the company’s latest funding round is expected to further strengthen MoEngage’s international footprint. The investment bank had previously co-led MoEngage’s seventy-seven million–dollar Series E round in partnership with B Capital in mid-2022. According to Dodda, the participation of an established investor such as Goldman Sachs serves as powerful validation of MoEngage’s strong fundamentals, operational performance, and long-term potential, since existing investors already possess an intimate understanding of both the company’s strengths and its challenges.
In recent years, MoEngage has substantially increased its research and development investments in artificial intelligence—particularly in the areas of generative AI and decisioning systems. These innovations are encapsulated in its Merlin AI suite, which now comprises an array of AI agents designed to address distinct marketing scenarios. Some of these virtual agents function similarly to human creative professionals: they can compose and refine marketing copy, produce multiple campaign variations, and even generate coherent text alongside contextually relevant images. Other components within Merlin focus on decision-making intelligence, helping brands precisely determine which customers should receive specific offers or messages, the most effective communication channels for those interactions, and the optimal timing for each outreach effort.
At present, MoEngage’s platform supports a diverse portfolio of more than 1,350 consumer brands globally. Its clientele includes internationally recognized companies such as SoundCloud, McAfee, Kayak, Domino’s, Deutsche Telekom, and Travelodge. The list also features major Indian enterprises like Swiggy, Flipkart, Ola, Airtel, and the Tata Group. Approximately sixty percent of MoEngage’s business originates from large, traditional enterprises that are undergoing digital transformation, while the remaining forty percent comes from internet-native firms and technology-led customers. Furthermore, MoEngage collaborates closely with over two dozen major global banks and several key insurance institutions, including JPMorgan Chase, Citibank, and India’s Life Insurance Corporation (LIC), the country’s largest insurer.
Interestingly, many of MoEngage’s current clients were once users of incumbent marketing suites from established players such as Adobe, Oracle, and Salesforce. Over time, MoEngage has successfully converted more than three hundred of these organizations, directly contributing to its rapid growth across North America as well as within Europe, the Middle East, and Africa. As one prominent example, the audio streaming platform SoundCloud transitioned a staggering 120 million users to MoEngage’s infrastructure in just twelve weeks. Through AI-powered insights, the company accelerated its product launches and significantly improved user retention rates among its premium subscribers, a development highlighted by Hope Barrett, SoundCloud’s senior director of marketing technology.
Another compelling aspect of MoEngage’s value proposition lies in its ability to consolidate fragmented marketing ecosystems. Many brands previously relied on several disjointed tools—each designed for a specialized task, such as email automation, analytics, or push notifications. MoEngage streamlined these disparate systems into one unified platform, enabling clients to lower costs, enhance consistency in messaging, and simplify their operational workflows. As Dodda explained, MoEngage allows every partner—from e-commerce retailers to global banks—to centralize all customer data seamlessly across offline stores, websites, mobile apps, and other channels, thereby crafting a coherent, omnichannel engagement strategy.
Although the CEO refrained from disclosing exact financial figures, he confirmed that MoEngage achieved roughly forty percent year-over-year growth in the previous fiscal cycle and is targeting a compound annual growth rate of about thirty-five percent this year. The company also expects to achieve adjusted EBITDA positivity on a quarterly basis before the current fiscal year concludes. In terms of competitive landscape, MoEngage acknowledges rivals including Braze and CleverTap, along with the broader enterprise marketing ecosystems offered by legacy vendors like Adobe, Oracle, and Salesforce.
The company currently employs around eight hundred professionals distributed across fifteen offices worldwide. To sustain its ongoing momentum, MoEngage plans to further expand its workforce—particularly in North America and Europe—by reinforcing teams responsible for customer success, technical support, sales, and marketing. In parallel, the firm is dedicating additional resources to enhance its AI-driven capabilities and attract global talent in data science, engineering, and product innovation. Looking ahead, Dodda has signaled the company’s intention to attain IPO readiness within the next few years, though he did not commit to a specific timeline for going public. His long-term vision is unambiguous: MoEngage aims to evolve into a multi‑billion‑dollar revenue powerhouse within the rapidly growing customer engagement and marketing automation industry.
Sourse: https://techcrunch.com/2025/11/04/goldman-sachs-doubles-down-on-moengage-in-100m-round-to-fuel-global-expansion/
