MoEngage

Market position

MoEngage says it is trusted by more than 1,350 consumer brands worldwide and used by brands across 75 countries, with over 300 enterprises having migrated to it. It was named a Leader in the 2026 IDC MarketScape for AI-enabled CDPs for B2C users and a "Strong Performer" in the Q3 2021 Forrester Wave for Cross-Channel Campaign Management. Management describes category leadership in Asia, with North America contributing the largest share of revenue as of late 2025.

MoEngage positions itself against conventional email service providers and campaign-centric tools by building around a unified user profile rather than the campaign, so channels, journeys, AI models and analytics share the same customer view, and by offering agentic decisioning at the individual-user level instead of static segments and sequential A/B tests. Investors cite an India-based cost structure as a factor in competing in the U.S. market, and customers cite fast migration timelines and time-to-value within weeks.

Technology

Merlin AI, a purpose-built AI suite for marketers, provides autonomous agents for workflow execution and per-user decisioning, testing many content variants in parallel; Sherpa is described as the company's AI engine for behavioral insights. The platform combines a unified customer profile and data management layer with predictive analytics, AI-powered segmentation, cross-channel journey orchestration, web and app personalization, and a single-API transactional alerting service (MoEngage Inform) spanning multiple messaging channels and delivery vendors.

Go-to-market

Direct enterprise sales supported by demo requests, customer success teams, a partner ecosystem of technology and solution partners, an app marketplace, and content marketing through reports, webinars, #GROWTH events, MoEngage Academy and a customer engagement summit. Growth investment has been directed at go-to-market and customer success teams in North America and EMEA, and the company runs a migration program aimed at enterprises switching from incumbent marketing clouds.

Marketing, CRM, lifecycle, growth, retention, product and engineering teams at B2C/consumer brands, across financial services, food and beverage, media and entertainment, travel and hospitality, and retail and e-commerce, including Shopify merchants and large enterprises migrating from legacy marketing clouds.

Geography

Headquartered in San Francisco and Bengaluru, with customers in 75 countries. In 2022 the company listed offices in the U.S., UK, Germany, UAE, India, Indonesia, Singapore, Vietnam, Malaysia, Philippines and Thailand, and planned expansion into Latin America and Australia. As of December 2025, more than 30% of revenue came from North America, about 25% from Europe and the Middle East, and the remaining 45% from India and Southeast Asia.

History

Described by TechCrunch in December 2025 as an 11-year-old startup, MoEngage raised $32.5 million in July 2021 and $30 million in December 2021, followed by a $77 million Series E in June 2022 led by Goldman Sachs Asset Management and B Capital. In November 2025 it raised $100 million led by Goldman Sachs Alternatives and A91 Partners, and in December 2025 added $180 million to the same Series F round led by ChrysCapital and Dragon Funds, taking the Series F to $280 million and total primary funding to about $307 million. The December 2025 transaction included roughly $123 million of secondary sales, a $15 million employee tender covering 259 current and former employees, and full or partial exits for early backers including Eight Roads Ventures, Helion Venture Partners, Z47 and Ventureast. The company has also announced the acquisition of Aampe.

Risks & controversies

The December 2025 round was heavily secondary in structure, with about $123 million of the $180 million total going to existing shareholders and only $57 million entering the business as primary capital; the reported post-money valuation of "well over" $900 million was attributed to a person close to the deal and not disclosed by the company. The company had not yet reached EBITDA positivity as of that raise and an IPO remains dependent on market conditions.