📝 MoEngage raises $180M

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MoEngage, the Bengaluru and San Francisco-based customer engagement giant, has closed a $180 million Series F follow-on, bringing its total Series F haul to $280 million and pushing its valuation "well over" $900 million. While $57 million in primary capital will fuel its Merlin AI suite and a push into product analytics, the deal is notably secondary-heavy, with $123 million providing a massive liquidity event for 259 employees and early investors like Ventureast (who saw a 10x return). By reaching the $100 million ARR milestone and turning EBITDA positive this quarter, MoEngage is leveraging its high-efficiency, India-based cost structure to challenge U.S. rivals like Braze and Iterable, positioning itself for a "no-rush" IPO within the next two years.

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