MoEngage, Indian mobile marketing automation platform, has 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, the company will be launching their platform globally and continuing to build out their leading mobile marketing automation platform.
“We have been working in stealth mode with the largest internet companies and 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,“ states Raviteja Dodda, CEO of MoEngage.
The company was founded by Raviteja Dodda and Yashwanth Kumar in July 2014, to help mobile app companies retain and engage users through targeted and personalized messaging which, in turn, improves their retention and conversions.
Along with new funding, MoEngage will also be unveiling three new capabilities, using which mobile marketers can further optimize their application.
● Uninstall Tracking and Analytics: Mobile app companies can 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 e-mail Campaigns and Advertising networks.
● Geo-fencing Capabilities: Marketers can create and update geo-fences, and trigger push notifications based on location combined with advanced segmentation capabilities.
● Smart Email Campaigns: Mobile app companies can use the advanced 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 (for instance, users who haven’t interacted with a push notification campaign).
On a monthly basis, the firm is currently profiling one fifth of smartphone users in India and delivering around 1 billion personalized interactions. The company currently works with many of the 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.