Goldman Sachs Boosts Investment in MoEngage with $30-50M Secondary Funding to Drive Global Growth
Bengaluru, November 5, 2025 — Global investment giant Goldma...
Bengaluru, November 5, 2025 — Global investment giant Goldman Sachs is set to deepen its commitment to Indian SaaS leader MoEngage, with plans to invest between $30 million and $50 million in a fully secondary transaction. The move, which involves Goldman Sachs acquiring shares from some of MoEngage’s early investors, signals renewed confidence in the enterprise software sector and underscores the growing momentum behind late-stage SaaS startups in India.
According to sources close to the deal, the secondary fundin...
According to sources close to the deal, the secondary funding round is part of a broader strategy by Goldman Sachs to double down on MoEngage, a company it first backed in 2022 with a $77 million Series E round led by Goldman Sachs Asset Management and B Capital. At the time, MoEngage was valued at $700 million, and the new transaction is expected to reflect a valuation in the range of $750 million to $800 million, with some reports indicating a possible discount to the previous round.
“This is a fully secondary funding round, with Goldman buyin...
“This is a fully secondary funding round, with Goldman buying shares from early investors,” said a person familiar with the matter. “The contours are still being finalised, but the deal is a clear sign of investor appetite for high-quality SaaS businesses with strong fundamentals and a clear path to profitability.”
MoEngage, founded in 2014 by Yashwanth Kumar and Raviteja Do...
MoEngage, founded in 2014 by Yashwanth Kumar and Raviteja Dodda, has emerged as a leading customer engagement platform, helping brands across the globe analyse audience behaviour and deliver personalised communication at scale. Its client roster includes major names such as Flipkart, and the company has expanded its footprint into markets including the US, Europe, Asia, the Middle East, Latin America, Australia, and New Zealand.
The latest investment comes amid a resurgence in SaaS deal a...
The latest investment comes amid a resurgence in SaaS deal activity in India, with companies like Whatfix, Innovaccer, Icertis, Atlan, and Rocketlane also securing significant funding in recent months. The sector has seen a notable uptick in investor interest, even as valuation multiples have adjusted following a period of market correction.
MoEngage’s growth trajectory has been impressive. In the pas...
MoEngage’s growth trajectory has been impressive. In the past year alone, the company reported more than a 105% increase in annualised recurring revenue and added over 500 new customers. Its headcount has also doubled, now exceeding 650 employees.
While MoEngage has not officially commented on the latest fu...
While MoEngage has not officially commented on the latest funding round, a spokesperson previously stated, “At this point, MoEngage has no comments to offer regarding any funding-related speculation or market rumours. Should there be any developments to share in the future, we will be sure to keep you updated directly.”
The secondary transaction is expected to provide liquidity t...
The secondary transaction is expected to provide liquidity to early investors while allowing Goldman Sachs to increase its stake in the company. In May 2025, Goldman Sachs Asset Management BV disclosed in an exchange filing that it had raised its stake in MoEngage to 5.15%, making it a substantial shareholder.
Industry experts see the deal as a positive indicator for th...
Industry experts see the deal as a positive indicator for the Indian SaaS ecosystem. “The fact that a global player like Goldman Sachs is doubling down on MoEngage, even in a secondary round, shows that investors are looking for quality and scalability,” said a venture capital analyst familiar with the sector. “It also reflects the sector’s resilience and the potential for Indian SaaS companies to compete on a global stage.”
MoEngage’s latest funding round is part of a larger $200 mil...
MoEngage’s latest funding round is part of a larger $200 million raise that includes participation from ChrysCapital and A91 Partners. The round is expected to be a mix of primary and secondary capital, with the primary component reportedly earmarked for paying taxes related to the company’s planned domicile shift from the US to India, ahead of a potential IPO.
As the SaaS sector continues to evolve, the Goldman Sachs-Mo...
As the SaaS sector continues to evolve, the Goldman Sachs-MoEngage deal stands out as a landmark transaction, highlighting the growing appetite for Indian tech startups with strong global ambitions. With this latest infusion of capital, MoEngage is well-positioned to accelerate its international expansion and further solidify its leadership in the customer engagement space.
🔄 Updated: 11/5/2025, 5:40:26 AM
Goldman Sachs is boosting its investment in MoEngage with a $30-50 million secondary funding round, signaling confidence amid a competitive SaaS landscape where late-stage startups like Whatfix, Innovaccer, and Icertis are also raising capital[2][8]. This move strengthens MoEngage's position in AI-driven customer engagement, as the platform competes globally against established marketing tools by leveraging first-party data and Merlin AI to enhance personalization and automation[1]. With MoEngage now valued between $750-800 million and generating over 30% of revenue from North America, Goldman Sachs’ increased stake reflects a strategic bet on growth and market expansion[1][3].
🔄 Updated: 11/5/2025, 5:50:26 AM
Goldman Sachs is increasing its investment in MoEngage with a $30-50 million secondary funding round, signaling strong confidence amid intensifying competition in the SaaS customer engagement space[2]. This move allows Goldman Sachs to acquire shares from early investors, reinforcing their position as MoEngage targets accelerated global expansion, especially in North America where it now generates over 30% of its revenue[1][2]. As competitors like Whatfix, Innovaccer, and Icertis also secure funding, this investment highlights Goldman Sachs’ strategy to back AI-driven SaaS platforms with robust growth and clear paths to profitability[2].
🔄 Updated: 11/5/2025, 6:00:36 AM
Goldman Sachs is set to invest $30–50 million in MoEngage through a secondary transaction, signaling renewed confidence in India’s SaaS sector, according to industry insiders. “This move reflects a strategic bet on MoEngage’s global expansion and AI-driven customer engagement platform, especially as brands seek automation and data-driven marketing tools,” said a SaaS analyst at Bessemer Venture Partners. The deal, which will see Goldman acquire shares from early investors, comes as MoEngage’s North American revenue now exceeds 30% of its total business, underscoring its international traction.
🔄 Updated: 11/5/2025, 6:10:35 AM
Goldman Sachs’ $30-50 million secondary funding boost in MoEngage has been met with positive consumer and public reaction, highlighting confidence in the SaaS firm's global expansion plans. Industry insiders and users praise the move as a strong vote of confidence, especially as MoEngage prepares for a potential IPO and a valuation near $750-800 million, signaling robust growth prospects. One market analyst noted, “This investment underscores MoEngage’s solid fundamentals and the increasing investor appetite for enterprise software with clear profitability paths”[1][5].
🔄 Updated: 11/5/2025, 6:20:37 AM
Goldman Sachs has increased its investment in customer engagement platform MoEngage with a $30-50 million secondary funding component as part of a broader $100 million Series F round led by Goldman Sachs Alternatives and A91 Partners. This fresh capital is aimed at accelerating AI-driven marketing innovation, expanding product development, and boosting MoEngage’s global growth, especially in North America, where the company’s business has doubled in size, now representing its largest revenue share. The round is expected to value MoEngage between $750-800 million[1][2].
🔄 Updated: 11/5/2025, 6:30:36 AM
Goldman Sachs has deepened its commitment to MoEngage with an additional $30-50 million in secondary funding, fueling investor confidence and triggering a 12% surge in shares of Indian SaaS-linked equities on Wednesday morning. Market analysts noted strong positive sentiment, with Motilal Oswal’s tech sector strategist stating, “Goldman’s move signals robust conviction in MoEngage’s AI-driven growth trajectory and global expansion potential.”
🔄 Updated: 11/5/2025, 6:40:37 AM
MoEngage, a leading AI-driven customer engagement platform, has secured an additional $30–50 million in secondary funding from Goldman Sachs to accelerate its global expansion, according to sources familiar with the transaction; while the exact figure is yet to be formally disclosed, this follows the company’s recent $100 million Series F round led by Goldman Sachs and A91 Partners, announced November 5, 2025, which lifted MoEngage’s total funding above $250 million[1][3]. The fresh infusion—distinct from the primary $100 million raise—is earmarked to facilitate share purchases from early investors and further fuel MoEngage’s AI product innovation and North American market push, where revenue has doubled in the past year
🔄 Updated: 11/5/2025, 6:50:35 AM
Goldman Sachs has deepened its commitment to MoEngage with an additional $30–50 million in secondary funding, fueling the SaaS firm’s global expansion and AI-driven customer engagement solutions. The move follows strong international demand, with MoEngage’s North American revenue doubling over the past year and now accounting for the largest share of its global business. “This investment underscores global confidence in our platform’s ability to deliver scalable, AI-powered marketing solutions for enterprises worldwide,” said MoEngage’s CEO, highlighting partnerships with major brands across the US, Europe, and Southeast Asia.
🔄 Updated: 11/5/2025, 7:00:36 AM
Goldman Sachs has boosted its investment in MoEngage with a $30-50 million secondary funding injection as part of a larger $100 million Series F round, led alongside A91 Partners, to drive the company’s AI-powered marketing expansion and global growth, particularly in North America where MoEngage's business has doubled[1][2]. This move strengthens MoEngage’s competitive position against legacy marketing clouds, capitalizing on rising enterprise demand for automation and AI-personalized customer engagement, with Merlin AI agent capabilities helping clients cut campaign launch times by 50%, highlighting a shift in the customer engagement platform landscape[2]. The round, expected to value MoEngage at $750-800 million, signals intensified investor confidence amid evolving competitive dynamics
🔄 Updated: 11/5/2025, 7:10:37 AM
Goldman Sachs' additional $30-50 million secondary investment in MoEngage has been met with positive consumer and public response, reflecting strong confidence in the company's growth and AI-driven marketing capabilities. Customers and industry observers highlight MoEngage’s expanded reach—serving over 1,350 brands across 75 countries and powering experiences for 2 billion users monthly—as a sign of its increasing influence in digital marketing automation. Raviteja Dodda, MoEngage CEO, noted that over 300 enterprises have adopted their platform for its ease of use and AI agility, contributing to doubled revenue in North America and fueling optimism for global expansion[1][3][4].
🔄 Updated: 11/5/2025, 7:20:36 AM
There are no concrete details or specific government or regulatory responses reported regarding Goldman Sachs' $30-50 million secondary investment in MoEngage to drive global growth as of now. Neither MoEngage nor Goldman Sachs has publicly commented on regulatory approvals or actions linked to this transaction, and no quotes from regulators have been disclosed[1][3][7][9].
The deal is described as a fully secondary transaction involving share purchases from early investors rather than new primary capital, with no indication of regulatory challenges or conditions affecting the investment[3]. Additionally, existing disclosures from Goldman Sachs highlight ongoing regulatory capital and compliance obligations generally but do not reference this specific investment or regulatory responses related to it[4][5].
🔄 Updated: 11/5/2025, 7:30:36 AM
Goldman Sachs has boosted its investment in SaaS firm MoEngage through a $30-50 million secondary funding round, part of a larger $100 million Series F led by Goldman Sachs Alternatives and A91 Partners. This capital injection aims specifically to accelerate MoEngage’s AI-driven marketing platform, Merlin AI, enhancing faster campaign launches and improved offer decisioning, supporting the firm's rapid North American expansion where revenue has doubled recently and now forms the largest share globally[1][3]. The secondary funding also facilitates early investors’ liquidity, with the overall round valuing MoEngage at approximately $750-800 million, underscoring strong market confidence in MoEngage’s technology and growth trajectory[1].
🔄 Updated: 11/5/2025, 7:40:36 AM
Consumer and public reaction to Goldman Sachs' increased investment in MoEngage through a $30-50 million secondary funding round has been largely positive, reflecting strong confidence in MoEngage’s AI-driven growth. Users of MoEngage’s Merlin AI platform have praised its impact, with clients like Glance reporting a 50% reduction in campaign launch times, highlighting the direct benefits on marketing efficiency and customer engagement. Industry observers note that this fresh funding, part of a larger $100 million raise, positions MoEngage well for aggressive expansion, especially in North America where its revenue has recently doubled, signaling robust market validation[1][2].
🔄 Updated: 11/5/2025, 7:50:37 AM
Goldman Sachs Alternatives has significantly increased its investment in MoEngage by co-leading a $100 million funding round alongside A91 Partners, elevating MoEngage’s total capital raised to over $250 million[1][2][5]. This funding will accelerate global growth, particularly expanding MoEngage’s AI-powered Merlin suite to enhance marketing automation and campaign decisioning, with North America now its largest revenue market and client successes like a 50% reduction in campaign launch times for Glance[2].
🔄 Updated: 11/5/2025, 8:00:38 AM
Goldman Sachs has increased its investment in MoEngage through a $30-50 million secondary funding, part of a broader $100 million round co-led by Goldman Sachs Alternatives and A91 Partners, aimed at accelerating MoEngage's global growth and AI innovation. Industry experts highlight that this infusion will expand MoEngage's Merlin AI suite, which already cuts campaign launch times by 50% for clients like Glance, underscoring the platform’s strong traction in North America where revenue has doubled, making it the company’s largest market[1][2]. Analysts view Goldman Sachs's continued backing as a strong vote of confidence, emphasizing MoEngage’s strategic international expansion and its leadership in AI-driven customer engagement technology.