MoEngage, Slice and Cuemath close funding rounds

In the last one year, MoEngage has grown annualised recurring revenue by more than 105%, added 500 new customers, and doubled its headcount to more than 650.

Published: 02nd June 2022 01:34 AM  |   Last Updated: 02nd June 2022 01:34 AM   |  A+A A-

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For representational purposes (Photo | AP)

BENGALURU: While start-up valuations and fundraising are slowing down, a few start-ups have managed to raise funds, as MoEngage, Slice and Cuemath on Wednesday announced their new round of funding.

Fintech unicorn Slice has raised $50 million as part of its Series C round led by Tiger Global along with participation from its existing investors Moore Strategic Ventures and Insight Partners, and a new investor GMO VenturePartners.

Customer engagement platform MoEngage on Wednesday announced that it has raised $77 million in Series E funding led by Goldman Sachs Asset Management and B Capital. This is Goldman Sachs Asset Management’s first investment in an Indian SaaS company.

This is the third round of funding raised by the company in the last one year, with $32.5 million raised in July and $30 million in December 2021.

The start-up will use the additional funds to deepen its geographic footprint in the US, Europe, Asia, and Middle-East markets and also expand in new markets like Latin America and Australia. The funds will also be used to explore strategic acquisitions, MoEngage said.

In the last one year, MoEngage has grown annualised recurring revenue (ARR) by more than 105%, added 500 new customers, and doubled its headcount to more than 650.

Online math tutoring platform Cuemath on Wednesday announced that it has raised $57 million in a round led by Alpha Wave. Cuemath is now valued at $407 million. Present in over 70 countries, Cuemath plans to expand to more than 100 countries by the end of this fiscal.

Cuemath has over 10,000 tutors and more than 2 lakh students on its platform.

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