MoEngage, an insights-led buyer engagement platform, has raised $77 million in Sequence E investment led by way of Goldman Sachs Asset Control and B Capital. That is Goldman Sachs Asset Control’s first funding in an Indian software-as-a-service (SaaS) corporate.
The corporate will use the extra price range to deepen its geographic footprint in america, Europe, Asia, and West Asian markets, and likewise enlarge in new markets equivalent to Latin The us and Australia. The price range can be used to discover strategic acquisitions that may lend a hand lengthen its platform functions and supply extra worth to shoppers.
The investment spherical additionally noticed participation from the corporate’s current buyers Steadview Capital, Multiples Trade Asset Control, 8 Roads Ventures, and Matrix Companions India.
Raviteja Dodda, Co-Founder and Leader Government Officer (CEO), MoEngage, mentioned: “We can proceed making an investment in India and can quickly open workplaces in Delhi, Mumbai and Hyderabad to raised make stronger our shoppers and faucet into ability out of doors Bangalore.” The corporate’s expansion is validation that client manufacturers as of late are shifting past campaign-centric gear and are adopting an insights-led multi-channel technique to buyer engagement, he added.
Within the closing 365 days, MoEngage has grown annualised ordinary earnings (ARR) by way of greater than 105 in keeping with cent, added 500 new shoppers, and doubled its headcount to greater than 650, mentioned the corporate.
Rajat Sood, Managing Director at Goldman Sachs Asset Control, mentioned: “We await the continuing growth of the selling automation and analytics business. We sit up for leveraging our world assets and community to make stronger the ambitions and persevered expansion of the corporate.”
That is the 3rd spherical of investment raised by way of the corporate within the closing 365 days, with $32.5 million raised in July and $30 million in December 2021.
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