TechCrunch Startup News Weeks after raising $100M, investors pump another $180M into hot Indian startup MoEngage
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Dec 18, 2025 MoEngage just scored a whopping $180 million in follow-on funding after an earlier $100 million raise, valuing the company at over $900 million. A big chunk of the raise was secondary, allowing 259 employees to cash out. The focus is on expanding their AI capabilities to enhance marketing efficiency and increase contract values through product bundling. With plans for strategic acquisitions in the US and Europe, MoEngage is also expecting to turn EBITDA positive soon, all while maintaining impressive investor returns.
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Secondary-Heavy Raise Values MoEngage Mid-Unicorn
- MoEngage completed a $180M follow-on round with $123M secondary and $57M primary capital.
- The deal valued the company at well over $900M and it was tracking toward $100M ARR.
AI And Bundling To Lift Contract Value
- MoEngage will invest the fresh capital into its Merlin AI suite and AI agents to boost marketing decision-making.
- It also plans product bundling to raise contract values and expand its addressable market.
Global Revenue Mix And Cost Advantage
- MoEngage already earns over 30% of revenue from North America and significant share from Europe and India/SEA.
- Its India-based cost structure helps compete effectively in the U.S. market.