MoEngage raises USD 100 mn in a funding round led by Goldman Sachs Alternative, A91 Partners

New Delhi, Nov 5 (PTI) Software-as-a-service platform MoEngage has raised USD 100 million in a funding round led by Goldman Sachs Alternatives and A91 Partners to scale up technology development and expansion in North America, the company said on Wednesday.

The company has over 800 employees, of whom 75 per cent are based in India.

With this round, MoEngage's total funding exceeds USD 250 million.

"MoEngage... announced that existing investor Goldman Sachs Alternatives and new investor A91 Partners have invested USD 100 million, as the company continues its rapid global expansion, with North America now contributing the largest share of its revenue," the company said on Wednesday.

"We are excited to partner with Goldman Sachs and A91 Partners in this journey," MoEngage, CEO and Co-founder, Raviteja Dodda said.

MoEngage claims that its insights-led customer engagement platform has registered a 2-fold growth in business and has doubled its global headcount in 2021.

The fresh funding will accelerate innovation across MoEngage's Customer Engagement Platform that facilitates marketing and product teams at B2C brands launch campaigns and scale conversions with AI.

"Our investment in MoEngage reflects Goldman Sachs' commitment to backing category-leading technology platforms that are leveraging AI for serving enterprises globally.

"By leveraging our global network, expertise, and capital, we look forward to helping the company accelerate growth, expand into new markets, and deliver lasting value to its customers," Goldman Sachs Alternatives, managing director, Rajat Sood said.

MoEngage will also expand its go-to-market and customer success teams in North America and EMEA to support continued growth, the statement said. PTI PRS DRR