MoEngage, the user analytics and engagement platform for mobile apps in India, announced today that they have raised $ 4.25 million in Series A funding. The funding is led by Helion Venture Partners with additional funding from Exfinity Ventures and angel investors including Kunal Bahl, Rohit Bansal and Raghunandan. With the new funding, MoEngage will be launching their platform globally and will continue to build their mobile marketing automation platform.
“We are pleased to see what MoEngage has accomplished in the Indian mobile market. As they have grown, they have become a crucial tool in the hands of mobile app companies and marketers. We are excited to help the MoEngage team continue their success overseas and expand their client base globally,” said Rahul Chandra, Helion Venture Partners.
Shailesh Ghorpade of Exfinity added, “What attracted us to MoEngage was their unique and effective way to address the problems of Mobile App marketing. Their technology enables apps to reach their market through extremely personalized channels allowing for an increase in users and revenue. We are excited to help expand MoEngage’s product market and increase business overseas.”
MoEngage helps retain and engage users by enabling mobile app companies to deliver individual-level personalized interactions via push notifications, in-app recommendations, email campaigns and other retargeting channels which help to reduce churn and improve customer lifetime value.
Raviteja Dodda, CEO, MoEngage commented, “We have been working in stealth mode with the largest Internet companies and have built out the next generation mobile marketing automation platform for B2C companies. We have seen tremendous growth in the very first year of our journey, becoming the number one mobile marketing automation platform in India. With this funding, we will double down on product innovation along with geographical expansion in US and emerging markets.”
Along with new funding, MoEngage will also be unveiling three new capabilities so mobile marketers can further optimize their application. Firstly, mobile app companies will be able to track the complete list of uninstalled users, along with plausible reasons for uninstalls through its prediction engine, providing an opportunity to proactively engage and retain these users as well as re-target them through Email Campaigns and Advertising networks.
Secondly, marketers can easily create and update geo-fences, and trigger push notifications based on location combined with advanced segmentation capabilities.
Thirdly, mobile app companies can use the segmentation capabilities to create mobile-optimized email campaigns with easy-to-use pre-built templates and end-to-end statistics from email opens to conversions inside the app. Email campaigns can be targeted towards un-installed users (or) based on the performance of push notification / in-app campaigns.
The company currently works with consumer-Internet companies in India including Snapdeal, Cleartrip, OLA’s TaxiForSure, Gaana, OYO Rooms, Yatra and Redbus. In the US, MoEngage has an office in San Francisco and currently works with companies like Sell It and SpotHero.