Private Equity

Private Equity Fund Investments

Customer engagement platform MoEngage raises $32.5 M from Multiples, others; Exfinity exits

MyBigPlunge  

MoEngage, a Mumbai-based customer engagement platform, has raised USD 32.5 million (INR 241.7 crore) in a Series C1 funding round led by Multiples Alternate Asset Management. Existing investors, Eight Roads Ventures, F-Prime Capital and Matrix Partners, also participated, while Exfinity Venture Partners made an exit. The funding is a mix of primary and secondary investments. The primary capital is expected to support and accelerate MoEngage's global growth strategy and further strengthen the product's AI and predictive capabilities. As part of this funding round, MoEngage also completed an Employee Stock Option Plan (ESOP) buyback of USD 1.5 million for its current and former employees. MoEngage counts McAfee, Nestle, Domino's, Deutsche Telekom, Travelodge, Ally Financial, Byju's, Flipkart, CIMB Bank and JD.ID as customers.

From the Venture Intelligence PE-VC Deal Database: Between Sep 15 and Feb 20, MoEngage had attracted almost $40 million from Ventureast, Helion Ventures, Eight Roads Ventures, F-Prime Capital, Matrix Partners and Exfinity Venture Partners.