MoEngage raises $100M to expand AI-driven customer engagement platform globally

MoEngage, a customer engagement software provider operating across 75 countries, has raised $100 million in a new funding round co-led by Goldman Sachs Alternatives and A91 Partners. The Series F round includes both primary and secondary share transactions and brings the company’s total funding to more than $250 million.

The company develops tools for consumer-facing brands to manage customer engagement across digital channels, using first-party data to automate messaging, segmentation, and campaign decisions. Its platform is used by more than 1,350 brands, including SoundCloud, McAfee, Flipkart, Domino’s, and Deutsche Telekom, as well as several major banks and insurers.

MoEngage said the new funding will be used to expand its go-to-market and customer success teams in North America and Europe, where it has seen increased enterprise demand. North America now accounts for over 30% of the company’s revenue, while Europe and the Middle East contribute roughly 25%.

Alongside geographic expansion, the company plans to invest in its AI product suite, Merlin AI. The suite includes automated campaign creation tools, message and creative generation features, and “decisioning AI” that determines which customers receive messages and through which channels. These capabilities are aimed at reducing manual marketing work while improving personalization.

MoEngage says adoption of these AI-driven features has accelerated, with some clients shifting from older marketing platforms or consolidating multiple point solutions into its system. In one reported migration, SoundCloud moved more than 120 million users to the platform within 12 weeks.

The funding comes as consumer brands increasingly prioritize personalized engagement driven by their own data, amid rising competition and shifts in privacy standards. MoEngage positions itself against both enterprise marketing cloud systems and newer customer engagement platforms. The company identifies Braze, CleverTap, and offerings from Adobe, Salesforce, and Oracle as key competitors.

MoEngage reported roughly 40% year-over-year revenue growth last year and says it is targeting an average compound annual growth rate of around 35% over the next three years. The company expects to reach adjusted EBITDA-positive status on a quarterly basis by the end of the current fiscal year. Leadership has also indicated plans to prepare for a potential public listing, though no timeline was disclosed.

Goldman Sachs Alternatives, which previously co-led MoEngage’s Series E round in 2022, increased its investment in this latest raise. A91 Partners joins as a new investor.

According to investors, MoEngage’s ability to serve large enterprises across global regions and its focus on AI-supported automation factored into the decision to deepen backing.