Announcing MoEngage’s Series C: Our Story, Milestones, and the Future
By Raviteja Dodda Published: 11 February 2020 | Updated: 11 February 2020
Whether you’re a MoEngager, a MoEngage Customer, a partner, or simply a martech enthusiast, I have something exciting to share with you. After 5 years of disruptive growth, and three successful rounds of funding, we are ready to announce our Series C.
It gives me great pleasure to announce that we have raised $25 Million in Series C funding. Eight Roads Ventures led the round with participation from its US-based sister fund, F-Prime Capital, along with Matrix Partners India and Ventureast. I welcome the wealth of experience and expertise that Eight Roads Ventures and F-Prime Capital brings into the boardroom with this investment.
With this new round of funding, we aim to:
- Invest further in Customer Success through initiatives that help our customers to stay ahead and focus on creating delightful customer experiences.
- Accelerate our rapid pace of product innovation across Sherpa, our AI Engine, Analytics, Customer Journey Orchestration, and Personalization capabilities.
- Deepen our relationships in Asia and scale our operations in two of our fastest-growing markets – the USA and Europe.
Back in December 2018, we had raised USD 9 million in the Series B round led by Matrix Partners India and Ventureast with participation from Helion Venture Partners and Exfinity Ventures.
Here are some important milestones that we have achieved since our Series B investment over the last year:
1. Our business grew over 2x, in a very capital-efficient manner: Over the last year, we partnered with many enterprise customers including Global Fortune 500 brands and Internet-first brands across Asia, the US and Europe.
Today, 1000+ consumer brands including the likes of Deutsche Telekom, Samsung, Travelodge, McAfee, Future Group, Mashreq Bank along with internet-first brands such as Ola, OYO, Bigbasket and Tokopedia across 35+ countries use MoEngage to connect with 400+ million monthly active users, processing over 65+ billion interactions and 40+ billion messages every month.
2. Leading the way in Product Innovation: We have always listened closely to our customers, and have understood the challenges with the current siloed approach of Analytics and Marketing and omnichannel reach. We launched Customer Engagement Analytics in Q1’19 to centralize behavioral analytics, insights and marketing automation on one dashboard. We also launched industry-only product Push Amplification + to improve the Push Deliverability on Android Devices by up to 40%.
3. We launched #GROWTH to build a community: We also fulfilled our long-standing dream of creating an exclusive platform for entrepreneurs, product owners, and growth marketers to learn from each other. We conducted 20+ invite-only events across 12+ cities. 50+ speakers took the stage while more than 3000+ people tuned into the knowledge that they shared.
4. Our team strength grew by 3x, spread across 9 offices: Along the way, we realized that in order to serve our customers better, we needed to be closer to them. That’s why, we opened more offices and are now present in Bengaluru, San Francisco, Jakarta, Berlin, London, Dubai, Singapore, Ho Chi Minh City, and Bangkok.
This also meant that we needed to grow our team. In 2019, we tripled our team strength from 80 to 250+ and were recognized as “an employee-centric company” by The Great Place to Work Institute.
5. We won global recognition for our customer-first approach: We also garnered recognition from reputed organizations like Gartner and AWS for our platform capabilities and customer delight.
Thank you to all our customers, partners, investors, and the global MoEngage family – we couldn’t have reached this far without you!
On the road ahead, we’ll have many more milestones to achieve, and I’ll look forward to your continued support and contribution as we march towards a brighter future.
Onwards and upwards…
Read the full article on TechCrunch: Here