MoEngage closes $280 million Series F after raising additional $180 million led by ChrysCapital, Dragon Funds

Funding

MoEngage has raised an additional $180 million as part of its Series F funding round, taking the total capital raised in the round to $280 million, the enterprise software-as-a-service firm said on December 17.

The latest tranche was led by ChrysCapital and Dragon Funds, with participation from Schroders Capital and existing investors TR Capital and B Capital.

MoEngage would use the capital to invest in its Merlin AI suite, expand go-to-market teams in North America and EMEA and evaluate strategic acquisitions.

The round also included a $15-million employee tender offer and selective secondary transactions for early investors, including Eight Roads Ventures, Helion Venture Partners, Z47 and Ventureast. Avendus Capital acted as the exclusive financial advisor to MoEngage.

“This liquidity programme ensures that employees and early investors can participate in the value created as the company scales globally,” MoEngage CEO and co-founder Raviteja Dodda said.

Moneycontrol reported the developments first in July 2025 that MoEngage was planning to raise $200 million from ChrysCapital, A91, Goldman Sachs.

Founded in 2014, the Bengaluru- and San Francisco-headquartered company provides customer engagement, analytics and messaging tools used by marketing and product teams across web, mobile and digital channels. MoEngage said it serves more than 1,350 consumer brands in 75 countries.

The fundraising comes as enterprises re-evaluate fragmented marketing, product and analytics stacks and look to consolidate spending on fewer customer engagement platforms with built-in AI and data capabilities. Investors have continued to back scaled software firms that generate global revenues from India while targeting North America and Europe as core markets.

“Enterprises are increasingly adopting AI-led customer engagement platforms built for global markets, and MoEngage fits that shift,” said Rishabh Iyer, vice president at ChrysCapital.