MoEngage, a user analytics and engagement platform for mobile apps in India has raised $4.25 Mn in Series A round of funding. The round was led by Helion Venture Partners with additional funding from Exfinity Ventures and included participation from prominent angel investors including Kunal Bahl, Rohit Bansal of Snapdeal and Raghunandan of Taxiforsure.
The funds will be used by MoEngage to launch their platform globally and to continue to build out their mobile marketing automation platform.
Raviteja Dodda, CEO of MoEngage stated, “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.”
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.
The firm will also unveil three new capabilities so that mobile marketers can further optimize their application. These include Uninstall Tracking and Analytics through which mobile app companies can track the complete list of uninstalled users and re-target them ; Geo-fencing Capabilities through which marketers can easily create and update geo-fences, and trigger push notifications based on location, and coupled with advanced segmentation capabilities; and Smart Email Campaigns, which enables them to 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.
The Bangalore based company claims that on a monthly basis, it is currently profiling one fifth of smartphone users in India and delivering around 1 billion personalized interactions. Prominent clients include Snapdeal, Cleartrip, OLA’s TaxiForSure, Gaana, OYO Rooms, Yatra and Redbus. In the US, MoEngage is based out of San Francisco and currently works with companies like Sell It and SpotHero.
In April this year, Helion Venture Partners announced its fourth fund worth $300 Mn. Around three-quarters of the fund will be used for startups that are helping digitize the national economy and the remainder will be set aside for Indian companies with the potential to do business globally. Ideally the investment amount infused by Helion ranges from $1 Mn to $10 Mn.
Analytics firms have been picking up a lot of attention this year. Just this month, Ratan Tata invested an undisclosed amount in Mumbai-based data analytics firm Infinite Analytics. Another Mumbai-based big data analytics startup, IntelligenceNODE, raised $4 Mn in a funding round led by New Enterprise Associates (NEA) and its existing investor Orios Venture Partners in August. In July, Bangalore based IQLECT, which operates in big data and analytics space raised $2 Mn in a round from Exfinity Venture Partners. This was also Exfinity Venture’s first investment in the analytics space.
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