PremiumListen to this article |
US-based customer engagement platform, MoEngage has raised a whopping $77 million in a Series E funding round led by Goldman Sachs Asset Management and B Capital.
Existing investors like Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India also participated in the funding round.
This is the first investment of Goldman Sachs Asset Management in an Indian SaaS (software as a service) company, MoEngage said in a PTI report.
MoEngage plans to utilise the additional funds to deepen its geographic footprint in the U.S., Europe, Asia, and Middle-East markets and also expand in new markets like Latin America and Australia.
Also, the funds will be used to explore strategic acquisitions that can help extend the company's capabilities and provide more value to customers.
In the last 12 months, this would be the third round of funding raised by the company. Earlier, MoEngage raised $32.5 million in July and $30 million in December last year.