MoEngage, a global customer engagement platform powering data-driven experiences for consumer brands, has secured an additional $180 million in its Series F round, taking the total raise to $280 million following a $100 million tranche closed in November 2025. The latest funding was led by ChrysCapital and Dragon Funds, with participation from Schroders Capital and continued backing from existing investors TR Capital and B Capital.
The expanded Series F round not only reinforces MoEngage’s momentum across global markets, but also includes a significant liquidity event. The company completed its second employee tender offer, amounting to approximately $15 million, benefiting 259 current and former employees. Select secondary transactions also provided liquidity to early investors, including Eight Roads Ventures, Helion Venture Partners, Z47, and Ventureast.
Founded with a focus on insights-led engagement, MoEngage has emerged as a platform of choice for enterprises seeking alternatives to legacy marketing clouds. The new capital will be directed toward accelerating innovation within the company’s Merlin AI suite, expanding go-to-market teams across North America and EMEA, and pursuing strategic acquisitions to broaden product depth and global reach.
Raviteja Dodda, CEO and Co-founder of MoEngage, emphasized the company’s long-standing commitment to shared ownership and value creation. “This liquidity program reflects our belief that the people who built MoEngage should participate meaningfully in its success,” Dodda said, acknowledging the support of ChrysCapital, Dragon Funds, Schroders Capital, TR Capital, and B Capital as the company continues to scale globally.
Beyond marketing, MoEngage is increasingly positioning itself as a unified engagement layer for both marketing and product teams. The company is expanding capabilities through MoEngage Analytics and MoEngage Inform, tools designed to align behavioral insights with real-time action. MoEngage Inform centralizes mission-critical transactional messaging—such as OTPs and service updates—through a single API, while MoEngage Analytics enables product managers to translate user behavior into immediate engagement that drives retention and lifetime value.
Industry leaders using the platform point to tangible outcomes. Bhavin Turakhia, Co-founder and CEO of Zeta, noted that MoEngage has become integral to optimizing onboarding, activation, and cross-sell journeys, while ensuring reliable customer communication. Similarly, Charu Pujari, SVP of AI and Engineering at Loblaw Digital, highlighted how MoEngage Inform plays a critical role in keeping customers informed during e-commerce deliveries and pickups.
From the investor perspective, ChrysCapital described MoEngage as a rare example of a platform built in India for global enterprises, combining capital efficiency with sophisticated enterprise-grade products. Dragon Funds echoed this view, citing the company’s strong management, consistent innovation, and AI-first approach as key factors behind the investment. Avendus Capital served as the exclusive financial advisor for the transaction.
Editorial View: Why MoEngage’s Trajectory Matters
From an industry standpoint, MoEngage stands at the intersection of two powerful trends: the shift away from monolithic marketing clouds and the growing demand for AI-driven, first-party data engagement. As customer journeys become increasingly fragmented across products, platforms, and touchpoints, solutions that unify insight and execution are gaining strategic importance.
What distinguishes MoEngage is not just scale—serving brands across 75 countries—but its deliberate expansion beyond marketing into product-led engagement. By enabling product, engineering, and marketing teams to operate on shared intelligence, the platform addresses a structural gap that many enterprises struggle to solve internally.
Looking ahead, the company’s emphasis on employee liquidity, disciplined operations, and global execution suggests a mature approach to growth. In a market crowded with engagement tools, MoEngage appears well-positioned to define the next phase of customer engagement—one that is less campaign-driven and more contextual, continuous, and measurable.
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