MoEngage targets revenue of $25M by 2020
MoEngage, the five-year-old technology startup in the customer engagement platform space, is targeting a revenue of $25 million by 2020, having recorded 200 percent growth in the last financial year.
MoEngage, which was started in Bengaluru in 2014 by Raviteja Dodda and Yashwant Kumar, and later shifted its headquarters to the US, is an artificial intelligence driven omni-channel marketing platform with focus on the mobile segment.
This startup has raised $14.5 million in funding from investors such as Matrix Partners, Ventureast, Helion VC, and Exfinity Ventures.
"Building a global business requires a relentless focus on the product and the people. We have created a company that is driven by values that encourages freedom, ownership, and leadership. The results of which is seen in the traction for our product and the positive feedback from our customers," says Raviteja Dodda, CEO and Co-founder, MoEngage.
MoEngage founders: Raviteja Dodda (left) and Yashwant Kumar
MoEngage has over 200 plus employees with offices in Bengaluru, Jakarta, London, Berlin, and San Francisco. It has over 500 clients across 35 countries.
According to the startup, over 50 percent of its revenue comes from enterprise clients. MoEngage started targetting the Asia market first before it expanded to developed economies like Western Europe and North America.
Some of MoEngage's customers include Samsung, Airtel, Jabong Times, and Tokopedia, while in the West it has clients like McAfee, Hearst, Deutsche Telekom, etc.
Commenting on their future plans, MoEngage CEO said, “It's gratifying to know that we have been able to register such strong growth and establish a strong brand identity in these last five years….We want to continue doing that and work towards our vision of creating the world's most trusted marketing cloud out of India."
(Edited by Megha Reddy)