MoEngage raises $77 million in series ‘E’ funding

Customer engagement platform MoEngage on Wednesday announced that it has raised USD 77 million in series ‘E’ funding. The funding was led by Goldman Sachs Asset Management and B Capital with participation from the company’s existing investors Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India.

This is the first investment of Goldman Sachs Asset Management in an Indian SaaS (software as a service) company, MoEngage said in a statement. This is the third round of funding raised by the company in the last 12 months. A total of USD 32.5 million was raised in July and USD 30 million in December 2021.

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MoEngage said it would use the additional funds to deepen its geographic footprint in the U.S., Europe, Asia, and Middle-East markets and also expand in new markets like Latin America and Australia. “The funds will also be used to explore strategic acquisitions that can help extend its platform capabilities and provide more value to customers,” it was stated.