MoEngage Gets $100M to Scale Marketing AI Agents and Accelerate Expansion in North America

Rhea-AI Summary

MoEngage (GS) announced a $100 million investment led by Goldman Sachs Alternatives and A91 Partners on November 5, 2025, taking total funding to more than $250 million. The company said its North America business doubled over the past year and now contributes the largest share of revenue.

The round will fund expansion of Merlin AI (AI Agents for offer and campaign decisioning), go-to-market and customer success hires in North America and EMEA, and platform innovation. The release cites performance examples: Glance cut campaign go-live times by 50%, and SoundCloud migrated > 120 million users in 12 weeks. MoEngage reported > 300 enterprise customers worldwide and emphasized momentum beyond legacy marketing clouds.

Positive

• $100M growth round led by Goldman Sachs and A91 Partners
• Total funding now exceeds $250M
• North America revenue share doubled year-over-year
• Glance reported 50% faster campaign go-live using Merlin AI
• SoundCloud migrated 120 million users in 12 weeks
• Expansion of go-to-market and customer success teams in NA and EMEA

Negative

• None.

The round, led by Goldman Sachs Alternatives and A91 Partners, underscores MoEngage's global momentum, fueled by enterprises moving beyond legacy marketing clouds. The company's North America business doubled over the past year, now contributing the largest share of revenue.

SAN FRANCISCO, Nov. 5, 2025 /PRNewswire/ -- MoEngage, the insights-led customer engagement platform for consumer brands, today announced that existing investor Goldman Sachs Alternatives and new investor A91 Partners have invested $100 million as the company continues its rapid global expansion, with North America now contributing the largest share of its revenue. With this round, MoEngage's total funding exceeds $250 million, further solidifying its position as one of the trusted AI-driven customer engagement platforms globally.

The funding will accelerate innovation across MoEngage's Customer Engagement Platform, with a focus on expanding Merlin AI —a suite of AI Agents, including its newer Offer and Campaign Decisioning Agents, that help marketing and product teams at B2C brands launch campaigns faster and scale conversions with AI Decisioning. Glance, for example, reduced campaign go-live times by 50 percent using Merlin AI. MoEngage will also expand its go-to-market and customer success teams in North America and EMEA to support continued growth.

"Our global momentum on top of our category leadership in Asia, is a validation that consumer brands are moving beyond legacy marketing clouds. Over 300 enterprises worldwide have turned to MoEngage for its ease of use and AI-led agility, achieving time-to-value within weeks of migration. These enterprise migrations have accelerated our growth in the North America and EMEA regions," said Raviteja Dodda, CEO and Co-founder, MoEngage. "We are excited to partner with Goldman Sachs and A91 Partners in this journey," he added.

"MoEngage has been an incredible partner in our growth journey," said Hope Barrett, Sr. Director of Martech at SoundCloud. "Their platform enabled us to seamlessly migrate more than 120 million users in just 12 weeks and leverage AI-driven insights to accelerate product launches that have strengthened retention across our paid user base."

Rajat Sood, a Managing Director at Goldman Sachs Alternatives, said, "Our investment in MoEngage reflects Goldman Sachs' commitment to backing category-leading technology platforms that are leveraging AI for serving enterprises globally. By leveraging our global network, expertise, and capital, we look forward to helping the company accelerate growth, expand into new markets, and deliver lasting value to its customers."

Kaushik Anand, Partner at A91 Partners, added, "We have gotten to know the MoEngage team over the last six years and have been impressed by their ability to constantly innovate and expand their product offerings. We are excited to back MoEngage as they look to scale their global customer footprint by empowering marketing and product teams with cutting-edge technology to build and retain customer relationships."

About MoEngage

Bengaluru and San Francisco Headquartered, MoEngage is an insights-led customer engagement platform, trusted by over 1,350 global consumer brands including SoundCloud, McAfee, Flipkart, Kayak, Domino's, Deutsche Telekom, Travelodge, and more. MoEngage empowers marketers and product owners with insights into customer behavior and the ability to act on those insights to engage customers across the web, mobile, email, social, and messaging channels. Its Merlin AI suite, a team of AI agents, enables marketers to launch campaigns faster and scale conversions with AI Decisioning. Consumer brands across 75 countries use MoEngage to power digital experiences for over 2 billion people every month.

MoEngage recognized as "Customers' Choice" in Gartner Peer Insights™ Voice of the Customer for Multichannel Marketing Hubs, May 2025

MoEngage was recognized as a "Strong Performer" in The Forrester Wave™: Cross-Channel Marketing Hubs, Q4 2024.

To learn more, visit www.moengage.com

About Growth Equity at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. 

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of December 31, 2024.  

Since 2003, Growth Equity at Goldman Sachs Alternatives has invested over $13 billion in companies led by visionary founders and CEOs. The team focuses on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare. Follow us on LinkedIn.

About A91 Partners

Founded in 2018, A91 Partners is an investment firm which manages $1.5B and invests across consumer, technology, financial services and healthcare sectors in India. A91 partners with entrepreneurs building enduring businesses for tomorrow's India. Select current investments include Digit General Insurance, Atomberg, Exotel, Kaar Technologies, Blue Tokai and Finbox. https://a91partners.com/

 

 

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SOURCE MoEngage

FAQ

What did MoEngage announce on November 5, 2025 regarding funding?

MoEngage raised $100 million led by Goldman Sachs Alternatives and A91 Partners, bringing total funding to over $250 million.

How has MoEngage's North America business changed in the past year (GS)?

The company said North America business doubled over the past year and now contributes the largest share of revenue.

What is Merlin AI and how did it perform for customers like Glance?

Merlin AI is a suite of AI agents for offer and campaign decisioning; Glance reduced campaign go-live times by 50% using it.

How will MoEngage use the $100M funding (GS)?

MoEngage will accelerate innovation in its Customer Engagement Platform, expand Merlin AI, and grow go-to-market and customer success teams in NA and EMEA.

How many enterprise customers does MoEngage report and what migration example was given?

MoEngage cited over 300 enterprise customers; SoundCloud migrated more than 120 million users in 12 weeks using the platform.

What does the GS-led investment imply for MoEngage's North America expansion?

The investment is intended to fund scaled hiring and go-to-market expansion to support accelerated growth in North America and EMEA.