MoEngage, a customer engagement platform founded by two IIT-KGP alumni, plans international growth
Business Insider (August 5, 2021)
INTERVIEW: MoEngage, which helps companies like Domino's engage with customers, wants an office in New York and 150 techies in India
MoEngage was founded by Raviteja Dodda ('10) and Yashwanth Kumar ('10)
--Customer engagement platform MoEngage is planning to go big on international expansion in the one year.
--MoEngage recently closed a $32 million funding round led by Multiples Alternate Asset Management.
--A part of the funding will be used to set up an R&D center in Hyderabad due to the talent pool crunch in Bengaluru.
MoEngage, which helps companies like Domino's engage with their customers, is planning to go big on international expansion in the one year.
It has already set up local offices in the UK, Germany and Vietnam over the last one year, and cities like New York and Boston are next in line.
The company aims to touch annual recurring revenue (ARR) of $100 million in the next three years, by 2024. Though MoEngage did not share their current ARR, the company claimed that it is higher than $20 million. This would mean that the company is looking to expand five fold in the next three years.
The company has also decided to set up another research and development (R&D) center in Hyderabad, MoEngage’s chief executive officer (CEO) Raviteja Dodda said in an exclusive interaction with Business Insider. Currently, it has one R&D center in Bengaluru. (Read More) (MoEngage website)