MoEngage helps companies measure customer engagement and analyse metrics
Its customers include Future Retail, Byju’s, Sharechat, Dominos Pizza
MoEngage, a customer analytics startup, announced on December 7 that it had raised $30 million in funding led by Steadview Capital, its valuation to around $500 million in six months.
Despite the fact that MoEngage’s valuation has more than doubled, the company has declined to comment on the matter. Existing investors include Multiples Alternate Asset Management, Eight Roads Ventures, F-Prime Capital, and Matrix Partners India.
MoEngage, which was founded in 2014, helps companies in evaluating customer engagement and analysing metrics in order to improve it, which may aid companies in developing their marketing and data strategy. It operates on a subscription model, as do most software-as-a-service companies, with companies paying a recurring fee for their services.
Among its clients are Future Retail, Byju’s, Sharechat, Dominos Pizza, Indonesian e-commerce firm Tokopedia, and cryptocurrency exchange CoinDCX.
Multiples led the $32.5 million raise in July. Its revenue has more than doubled in the last year, though it did not specify how much it currently earns.
“Our vision is to create the most trusted customer engagement platform that enables brands to personalise every customer interaction,” said Raviteja Dodda, Co-Founder and CEO of MoEngage.
Dodda said Sherpa, the company’s Artificial Intelligence engine, is a game changer. Sherpa allows marketers to gain visibility into customer behaviour, their likes, their channel preferences, the optimal frequency and timing of messages. Marketers can automatically segment their customers, not just based on their past transactions, but also on their affinities and lifestyle
