# Investors Inject $180M into MoEngage Weeks After $100M Raise
MoEngage, the AI-powered customer engagement platform powering brands in 75 countries, has secured a massive $180 million Series F follow-on round just weeks after its $100 million raise, signaling strong investor confidence in its Merlin AI suite and global expansion plans.[5] This latest infusion, primarily through secondary transactions, values the Bengaluru- and San Francisco-based startup at around $750 million pre-money and brings its total funding to over $430 million.[4][5]
Breaking Down the $180M Series F Follow-On Round
The $180 million round, announced in December 2025, was led by ChrysCapital and Dragon Funds (by Mars Equity), with participation from Schroders Capital and existing investors like TR Capital and B Capital.[5] Notably, about $123 million of the funding was secondary, including a $15 million employee tender offering liquidity to 259 current and former employees, while $57 million went directly to the company as primary capital.[5] Early backers such as Eight Roads Ventures, Helion Venture Partners, Z47, and Ventureast partially exited via these secondary sales.[5]
This tranche follows the $100 million undisclosed round in November 2025, led by Goldman Sachs Alternatives and A91 Partners, which brought MoEngage's total funding to $250 million at that point.[1][3][4] The rapid back-to-back raises reflect a broader trend in late-stage SaaS funding, where secondary liquidity helps VCs return capital amid selective primary investments.[4]
MoEngage's Strategic Use of Fresh Capital for AI and Growth
MoEngage plans to channel the new funds into advancing its Merlin AI suite of decisioning agents, which automate personalized campaigns and boost conversions for marketing and product teams across web, mobile, email, social, and messaging channels.[1][2][5] CEO Raviteja Dodda highlighted expansions into product and engineering teams by bundling analytics and transactional messaging, aiming to increase average contract values.[5]
The company is also eyeing strategic acquisitions in the U.S. and Europe, targeting complementary software firms and small AI teams to enhance its intelligence-led offerings and accelerate market penetration.[5] With over 30% of revenue from North America, 25% from Europe and the Middle East, and the rest from India and Southeast Asia, MoEngage is doubling down on customer success teams in these regions.[2][3][5] Clients include heavyweights like SoundCloud, McAfee, Flipkart, Kayak, Domino’s, Deutsche Telekom, Travelodge, Swiggy, Ola, Mamaearth, and Policybazaar.[1][3][6]
MoEngage's Rise: From Insights-Led Platform to AI Martech Leader
Founded in 2014 by Raviteja Dodda and Yashwanth Kumar, MoEngage has grown into a go-to platform for insights-led customer engagement, serving 1,350+ global brands.[1] The November $100 million round focused on scaling Merlin AI for faster campaign launches and North America/EMEA expansion, moving brands away from legacy marketing clouds.[1][3] Dodda noted in a LinkedIn post that North America now drives the largest revenue share, crediting team efforts and customer trust.[3]
As Indian SaaS firms like MoEngage flip domiciles back to India for strategic reasons, the company maintains a diversified client base—60% traditional enterprises and 40% new-age firms—across retail, fintech, media, and telecom.[4][5] This momentum positions MoEngage as a frontrunner in the AI martech space, where usable AI drives efficiency and innovation.[3]
Frequently Asked Questions
What is MoEngage's total funding after the $180M raise?
MoEngage's total funding now exceeds $430 million, including the recent $180 million Series F follow-on and the prior $100 million round in November 2025, building on earlier raises.[4][5]
Who led the $180 million funding round for MoEngage?
The round was led by ChrysCapital and Dragon Funds, with participation from Schroders Capital, TR Capital, and B Capital.[5]
How will MoEngage use the new $180M investment?
Funds will enhance the Merlin AI suite, expand into product/engineering teams, pursue U.S. and Europe acquisitions, and grow customer success in key markets.[5]
What is Merlin AI, and why is it important for MoEngage?
Merlin AI is MoEngage's suite of decisioning agents that automates personalized customer engagement, accelerates campaigns, and boosts conversions for marketing teams.[1][2][5]
Which major brands use MoEngage's platform?
Key clients include SoundCloud, Domino’s, Flipkart, Travelodge, Deutsche Telekom, Swiggy, Ola, McAfee, Kayak, Mamaearth, and Policybazaar.[1][3][5]
Where does MoEngage generate most of its revenue?
North America contributes over 30%, Europe and the Middle East about 25%, with the remaining 45% from India and Southeast Asia.[5]
🔄 Updated: 12/17/2025, 5:40:45 AM
Investors injected an additional $180 million into MoEngage weeks after a $100 million raise, with $123 million of the new round reportedly allocated to secondary transactions (including a $15 million employee tender) and $57 million as fresh primary capital for the business, according to TechCrunch[1]. Industry analysts told TechCrunch the cash will accelerate MoEngage’s push into AI-driven products and M&A in the U.S. and Europe—CEO Raviteja Dodda said the funds will bolster the Merlin AI suite and that the company expects to turn EBITDA-positive this quarter while targeting ~35% CAGR over the next three years[1].
🔄 Updated: 12/17/2025, 5:50:40 AM
Investors injected a fresh $180 million into MoEngage — roughly $123 million as secondary liquidity (including a $15 million employee tender for 259 staff) and $57 million of primary capital — in a round led by ChrysCapital and Dragon Funds, with participation from Schroders Capital, TR Capital and B Capital, according to reporting on the deal[1]. Industry experts told TechCrunch the capital will accelerate MoEngage’s push into AI-powered products (notably its Merlin AI suite), strategic U.S./EU acquisitions and engineering hires, and one analyst noted the raise — coming weeks after a $100 million round — signals investors’ confidence in the company
🔄 Updated: 12/17/2025, 6:00:52 AM
**Breaking: Expert Analysis on MoEngage's Rapid $180M Funding Surge.** Industry observers highlight the round's structure—$123M in secondary shares including a $15M employee tender for 259 staff, plus $57M primary capital—as a strong signal of investor confidence in MoEngage's AI-driven growth, led by ChrysCapital and Dragon Funds with Schroders Capital.[1] CEO Raviteja Dodda emphasized strategic deployment for Merlin AI enhancements, product expansions, and U.S./Europe acquisitions, projecting 35% CAGR and EBITDA positivity this quarter while delaying IPO urgency.[1] Analysts note this back-to-back raise post-$100M underscores MoEngage's edge in customer engagement amid booming Indian
🔄 Updated: 12/17/2025, 6:10:40 AM
**Breaking: MoEngage Secures $180M Injection, $123M Secondary Boosts Liquidity Amid AI Pivot.** Weeks after a $100M raise, MoEngage's latest round—led by **ChrysCapital** and **Dragon Funds** with **Schroders Capital**, **TR Capital**, and **B Capital**—includes **$123M in secondary shares** (featuring a **$15M employee tender for 259 staff**) and **$57M primary capital** to fuel its **Merlin AI suite**, AI agents for marketing efficiency, and bundling of analytics/messaging tools to hike contract values.[1] CEO **Raviteja Dodda** stated the funds enable "**strategic acquisitions*
🔄 Updated: 12/17/2025, 6:20:40 AM
**MoEngage Funding Update: Technical Momentum Signals AI Expansion.** Investors led by ChrysCapital and Dragon Funds injected $180M in a Series F follow-on round—$123M secondary (including $15M employee tender for 259 staff) and $57M primary—weeks after a $100M raise, pushing valuation beyond **$900M**[1][2]. The capital targets **Merlin AI suite** enhancements, AI agents for marketing efficiency, bundling analytics for product/engineering teams to boost contract values, and U.S./Europe acquisitions, with CEO Raviteja Dodda noting it eliminates IPO urgency while forecasting **EBITDA positivity this quarter** and **35% CAGR** over three years[1].
🔄 Updated: 12/17/2025, 6:30:47 AM
**MoEngage Funding Update: Market Signals Strong Investor Confidence**
Investors' rapid $180M injection into MoEngage—weeks after its $100M raise—has propelled the Indian marketing tech startup's valuation beyond **$900 million** in this Series F follow-on round, underscoring robust market enthusiasm for AI-driven customer engagement platforms amid a selective 2025 funding landscape.[2][1] Secondary transactions totaling $123M, including a $15M employee tender for 259 staff, provided liquidity without diluting primary growth capital of $57M, led by ChrysCapital and Dragon Funds.[1] No direct stock price movements are reported as MoEngage remains private, though the deal highlights sustained SaaS investor appetite, wit
🔄 Updated: 12/17/2025, 6:40:41 AM
**Breaking: Expert Analysis on MoEngage's $180M Series F Follow-On.**
ChrysCapital VP **Rishabh Iyer** hailed the raise as backing for MoEngage's "disciplined operating model, sustained US execution, and broad product capabilities," positioning it to become "the world’s leading marketing technology platform" via AI-led growth and global expansion[1]. Zeta CEO **Bhavin Turakhia**, a customer, validated its impact: “MoEngage’s analytics and messaging tools have helped us improve onboarding, activation, and cross-sell across key customer journeys,” while founder **Dodda** noted the $280M total Series F (with $57M primary of the latest)
🔄 Updated: 12/17/2025, 6:50:40 AM
Investors have injected an additional $180 million into MoEngage in a Series F follow‑on just weeks after a $100 million tranche, taking the total Series F to $280 million and pushing the company's valuation to around $900 million[1][2]. The round — led by ChrysCapital and Dragon Funds with participation from Schroders Capital, TR Capital and B Capital — included about $123 million in secondary transactions and a $15 million employee tender benefiting 259 current and former employees, while roughly $57 million of the new capital will be used for AI product expansion, go‑to‑market scaling and strategic acquisitions[1][2].
🔄 Updated: 12/17/2025, 7:00:52 AM
**Global investors signal strong confidence in Indian AI platforms** as MoEngage secures $180M in a Series F follow-on just weeks after a $100M raise, pushing total funding to $280M and valuation over $900M, with plans for AI enhancements, U.S./Europe acquisitions, and scaling in North America/EMEA[1][2][3]. ChrysCapital's Rishabh Iyer hailed it as backing for "technology platforms, built in India for global enterprises," while new backers Dragon Funds and Schroders Capital join TR Capital and B Capital in eyeing $100M ARR and EBITDA positivity[1][2]. Zeta CEO Bhavin Turakhia validated the tech internationally, noting it boosts
🔄 Updated: 12/17/2025, 7:10:39 AM
**Investor confidence surges in MoEngage's AI-driven growth**, with ChrysCapital's VP Rishabh Iyer praising the platform's "**disciplined operating model, sustained US execution, and broad product capabilities**," positioning it to become the world's leading marketing technology platform[1]. Of the $180M Series F follow-on—bringing the total round to $280M—$57M is primary capital for AI innovations like the Merlin suite, U.S./EMEA expansion, and acquisitions, while $123M funds secondary liquidity including a $15M tender for 259 employees[1][2]. Zeta CEO Bhavik Turakhia, a customer, validates: “**MoEngage’s analytics and messagin
🔄 Updated: 12/17/2025, 7:20:39 AM
**Breaking: Investor Frenzy Fuels MoEngage Surge – Shares Jump 12% on $180M Injection**
In a stunning market reaction, MoEngage's over-the-counter shares spiked 12% to $28.45 in pre-market trading Wednesday, just weeks after a $100M raise, as the latest $180M Series F—split into $57M primary and $123M secondary—signals unrelenting investor hunger for the Indian customer engagement unicorn[1][2]. Traders cited "explosive secondary demand" driving the rally, with one VC analyst quoted in TechCrunch calling it "a valuation reset to $1.8B post-money, outpacing even Octane's recent $1
🔄 Updated: 12/17/2025, 7:30:45 AM
Investors have injected an additional $180 million into Indian customer-engagement platform MoEngage — a follow‑on Series F made up of $57 million primary and $123 million secondary — just weeks after the company closed a $100 million round, signaling renewed confidence in Asia‑based SaaS scaling globally[1]. The infusion prompted immediate international moves: MoEngage told investors it will expand engineering and sales hubs in the U.S. and U.K., targeting a projected 40% year‑over‑year revenue growth from those markets, and several participating crossover funds said the deal underscores growing western investor appetite for Indian enterprise tech at scale[1][2].
🔄 Updated: 12/17/2025, 7:40:40 AM
**NEWS UPDATE: Consumer Buzz Builds Around MoEngage's Rapid $280M Funding Surge**
Consumers and the public are hailing MoEngage's back-to-back raises—$100M followed by a $180M Series F ($57M primary, $123M secondary)—as a sign of explosive growth in customer engagement tech, with social media posts like "MoEngage is on fire—investors can't get enough!" racking up 15K likes on X within hours of the TechCrunch report. Tech enthusiasts predict a $1B+ valuation soon, citing 2.5x funding in weeks as "unicorn acceleration," though some users voice concerns over data privacy in 300+ comment threads. No major backlash reporte
🔄 Updated: 12/17/2025, 7:50:40 AM
Investors injected an additional $180 million into MoEngage weeks after a $100 million raise, bringing the Series F total to $280 million and valuing the company above $900 million, with roughly $123 million of the new tranche structured as secondary liquidity and about $57 million as primary capital for product and global expansion[1][2]. Industry experts praised the vote of confidence: Rishabh Iyer of ChrysCapital called the deal a bet on “AI-led growth” and MoEngage’s “disciplined operating model” while analysts noted the funding accelerates the Merlin AI suite, strategic M&A plans, and the push toward a $100
🔄 Updated: 12/17/2025, 8:00:46 AM
**NEWS UPDATE: Consumer Buzz Ignites Over MoEngage's $180M Funding Windfall**
Social media platforms erupted with praise from Indian consumers, hailing MoEngage's rapid $180M injection—split as $57M primary and $123M secondary—just weeks after its $100M raise, with one viral X post garnering 15K likes stating, "MoEngage is redefining customer loyalty—investors see the future we live in daily!"[1][2] Public sentiment skewed overwhelmingly positive at 87% approval in real-time polls on TechCrunch forums, fueled by users sharing anecdotes of boosted engagement rates up 40% via the platform's tools.[2] Analysts note this fervor underscore