MoEngage raises $30 million in round led by Steadview Capital
Existing investors Multiples Alternate Asset Management, Eight Roads Ventures, F-Prime Capital, and Matrix Partners also participated in the round.
The company has raised $100 million so far.
Founded in 2014, MoEngage counts 1,000 companies across 35 countries, such as Ally Financial, McAfee, Flipkart, Domino’s, Nestle, Deutsche Telekom, and Travelodge, as clients.
The company will invest the funds to strengthen its technology and further accelerate growth.
In the last 12 months, it has doubled headcount to 450 employees globally.
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It recently opened offices in Boston, London, Berlin and Ho-Chi Minh City and will continue to invest and add about 250 people by 2022.
“Our vision is to create the most trusted customer engagement platform that enables brands to personalize every customer interaction,” said Raviteja Dodda, cofounder and CEO of MoEngage.
In the last 12 months, annualised recurring revenue (ARR) has grown over 120%, the company said.
“Delivering a personalized customer experience across channels has never been more relevant than it is today. MoEngage’s unique insights-led approach to customer engagement and campaigns makes it easier for brands to drive results and build better relationships with their customers,” said Ravi Mehta, founder and chief information officer of Steadview Capital.
( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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