MoEngage, mobile marketing automation platform has raised $4.25 million in Series A funding led by Helion Venture Partners along with Exfinity Ventures and angel investors Kunal Bahl, Rohit Bansal and Raghunandan. This round is the first institutional funding for the company.
Founded in 2014 by Raviteja Dodda and Yashwanth Kumar, MoEngage is a mobile marketing automation startup that helps to hold and engage user by enabling mobile app companies to deliver individual-level personalised interactions via push notifications, in-app recommendations, email campaigns and other retargeting channels, which help to reduce stir and improve customer lifetime value.
“We have been working in stealth mode with the largest internet companies and built out the next generation mobile marketing automation platform for B2C companies. We have seen tremendous growth in the very first year of our journey, becoming the number one mobile marketing automation platform in India. With this funding, we will double down on product innovation along with geographical expansion in US and emerging markets,“ states Raviteja Dodda, CEO of MoEngage.
Operating in Bengaluru and San Francisco, MoEngage now works with consumer-Internet companies in India that includes Snapdeal, Cleartrip, Ola’s TaxiForSure, Gaana, OYO Rooms, Yatra and RedBus and Sell It and SpotHero in USA.
With the fresh funds, the startup plans to invest on product innovation along with geographical expansion in US and other upcoming markets. It also plans to launch three new capabilities that can help mobile marketers optimize their application. They are uninstall tracking and analytics, geo-fencing capabilities, smart email campaigns.
“We are pleased to see what MoEngage has accomplished in the Indian Mobile market. As they have grown, they have become a crucial tool in the hands of Mobile App companies and marketers. We are excited to help the MoEngage team continue their success overseas and expand their client base globally,” said Rahul Chandra of Helion Venture Partners.
“What attracted us to MoEngage was their unique and effective way to address the problems of Mobile App marketing. Their technology enables apps to reach their market through extremely personalized channels allowing for an increase in users and revenue. We are excited to help expand MoEngage’s product market and increase business overseas,” said Shailesh Ghorpade of Exfinity.