In a significant development for the marketing technology sector, MoEngage has successfully closed an extended Series F funding round, securing an additional $180 million. This latest injection of capital, led by ChrysCapital and Dragon Funds with participation from Schroders Capital, TR Capital, and B Capital, brings the total Series F funding to $280 million following an initial $100 million raised in November.
The substantial investment represents a powerful endorsement of MoEngage’s AI-driven customer engagement platform as enterprises across North America, Europe, and the Middle East increasingly transition from legacy marketing systems to intelligent, insights-led solutions. The funding will primarily accelerate the scaling of MoEngage’s Merlin AI suite, expand go-to-market operations in key regions, and facilitate strategic acquisitions to enhance platform capabilities.
A notable aspect of this funding round includes a $15 million liquidity event benefiting 259 current and former employees, demonstrating the company’s commitment to shared ownership and wealth creation among its workforce. Early investors also participated in secondary transactions, further validating the company’s growth trajectory.
Raviteja Dodda, Co-founder and CEO of MoEngage, emphasized that this investment recognizes both the company’s disciplined execution and its philosophy of collective ownership. “It is vital that we recognize the people who brought us to this stage,” Dodda stated, highlighting the liquidity program as a reflection of this commitment.
The platform’s expanding capabilities are receiving validation from major enterprise clients. Bhavin Turakhia, CEO of Zeta, noted that MoEngage’s analytics and messaging capabilities have significantly improved key banking journeys, while Charu Pujari of Loblaw Digital highlighted the platform’s effectiveness in strengthening real-time updates for delivery and pickup orders.
Investors specifically cited MoEngage’s disciplined operating model and strong execution in the US market as differentiating factors. Rishabh Iyer of ChrysCapital expressed anticipation for “helping the team become the world’s leading marketing technology platform,” while Dragon Funds’ Managing Director Aakash Tulsani praised MoEngage for “setting the bar for innovation by leveraging AI on first-party data.”
With this funding milestone, MoEngage is positioned to extend its presence across the Middle East, where digital-first brands are rapidly adopting AI-led engagement strategies to serve mobile-first consumers. Avendus Capital acted as the exclusive financial advisor for this transaction.