MoEngage is raising a new round to fuel aggressive global expansion, increase headcount in North America and Europe, and boost AI capabilities, including expanding its Merlin AI suite for personalized marketing and automated customer journeys.

The company frames growth around AI-driven product offerings and global scale to meet demand for intelligent, automated customer engagement tools.

About 60% of the funding is for primary growth and 40% for secondary exits, bringing total raised to about $250 million, with new investment from Goldman Sachs Alternatives and A91 Partners.

Avendus Capital served as the exclusive financial advisor to MoEngage and its shareholders for the round.

Merlin AI features, including offer and campaign decisioning, have cut campaign launch times significantly, with customers like Glance reporting a 50% reduction.

Customers such as SoundCloud have migrated millions of users in weeks using AI insights for faster product launches and improved paid retention, illustrating the platform’s impact.

More than 300 enterprises have migrated to MoEngage from legacy marketing systems, drawn by speed, scalability, and ROI.

Major clients include SoundCloud, McAfee, Kayak, Domino’s, Deutsche Telekom, Travelodge, JPMorgan Chase, Citibank, Swiggy, Flipkart, Ola, Airtel, Tata, and LIC, with MoEngage serving over 1,350 brands globally.

The company targets around mid-teens to low-40s percent growth and aims to achieve adjusted EBITDA-positive quarterly by the end of the current fiscal year, while pursuing IPO readiness in the medium term.

MoEngage’s leadership envisions building a multi-billion-dollar marketing tech company, propelled by AI-led innovation and global reach.

CEO Raviteja Dodda says the momentum validates moving beyond legacy marketing clouds, with North America and EMEA driving growth through AI-driven agility.

MoEngage has invested heavily in generative AI and decision-making over the past 2–3 years, with Merlin AI handling copywriting, variant generation, content creation, audience targeting, channel selection, and optimal send times.