MoEngage raises $180m to scale AI customer engagement

By Vriti Gothi

MoEngage has raised $180 million as part of its Series F funding round, taking the total capital raised in the round to $280 million. The latest tranche was led by ChrysCapital and Dragon Funds, with participation from Schroders Capital, and continued backing from existing investors TR Capital and B Capital.

The funding comes as enterprises increasingly reassess traditional marketing cloud deployments in favour of platforms that combine customer data, analytics, and engagement across both marketing and product functions. MoEngage positions itself in this shift by offering an insights-led customer engagement platform that integrates behavioural data with real-time orchestration across channels.

The Bengaluru-headquartered company said the fresh capital will be deployed to accelerate development of its Merlin AI suite, expand go-to-market teams in North America and EMEA, and pursue selective acquisitions to broaden its product capabilities or support international growth. Alongside growth investments, MoEngage completed its second employee liquidity programme, facilitating a tender offer of approximately $15 million that benefited 259 current and former employees. The round also included secondary transactions for early investors, including Eight Roads Ventures, Helion Venture Partners, Z47, and Ventureast.

As customer engagement increasingly extends beyond marketing teams, MoEngage is expanding its platform to address product-led use cases. The company is strengthening its offering for product teams through MoEngage Analytics and MoEngage Inform, aiming to enable shared data and execution across marketing, product, and engineering functions. MoEngage Inform focuses on transactional messaging such as one-time passwords and account updates through a single API, while its Analytics combines behavioural insights with immediate engagement triggers to support retention and lifetime value optimisation.

“At MoEngage, we believe our success is a collective effort, built on a culture of ownership and innovation. It is vital that we recognise the people who brought us to this stage,” said Raviteja Dodda, CEO & Co-founder, MoEngage. “This liquidity program reflects that commitment by ensuring that the builders of MoEngage, our employees, and early investors have the opportunity to directly share in the milestones we achieve together. We are grateful for the partnership of ChrysCapital, Dragon Funds, Schroders Capital, TR Capital, and B Capital as we continue to scale globally.”