Bengaluru: Analytics and engagement platform MoEngage Inc. has raised $4.25 million in Series A funding led by Helion Venture Partners and additional funding from Exfinity Ventures and other investors, including Snapdeal’s co-founders Kunal Behl and Rohit Bansal and cab aggregator TaxiForSure founder Raghunandan.
The Bengaluru-based company said on Monday that the new round of funding will help it double its product innovation and expansion in the US and emerging markets. The company helps retain and engage users by enabling mobile app companies to deliver individual-level personalized interactions via push notifications, in-app recommendations, email campaigns and other channels which help reduce churn and improve customer lifetime value.
On a monthly basis, MoEngage is profiling one-fifth of smartphone users in India and delivering around 1 billion personalised interactions, it said in a statement. MoEngage currently works with consumer-Internet companies, including Snapdeal, Cleartrip, Ola’s TaxiForSure, Gaana, Oyo Rooms, Yatra and Redbus. MoEngage also serves clients like Sell It and SpotHero in the US.
“We have been working in stealth mode with the largest Internet companies and built out the next generation mobile marketing automation platform for B2C companies," Raviteja Dodda, CEO of MoEngage, said in the statement.