MoEngage, the insights-driven customer engagement platform, has announced strategic expansion plans in the Middle East and Africa (MEA) region in order to reaffirm its commitment to the region and better support its local customers.
The San Francisco and Bengaluru-based company, which runs on a software-as-a-service (SaaS) basis, was founded in 2014 with the goal of assisting Middle Eastern businesses in becoming customer-centric through customised communication at every touchpoint across the customer lifecycle. The company has hired professionals in senior and mid-level management positions, and it intends to grow its network of channel partners in the region.
MoEngage was co-founded by Raviteja Dodda (CEO) and Yashwanth Kumar (CTO) in 2014 and now has over 50 customers in the region, including retail giants Landmark, Apparel Group, and Azadea, one of the oldest banks Mashreq, NASDAQ-listed shared mobility player SWVL, and Nigerian e-commerce company Mano Africa, among others.
MoEngage has raised more than $100 million in total finance. MoEngage raised $30 million in finance in December 2021, more than tripling its prior valuation from its Series C1 investment in July 2021, when it raised $32.5 million. New investor Steadview Capital led the investment round in December 2021, with current investors Multiples Alternate Asset Management, Eight Roads Ventures, F-Prime Capital, and Matrix Partners also participating.
“In today’s digital world, omnichannel consumer engagement is crucial for customer-facing businesses. Manish Gaur, managing director and head of enterprise technology at Multiples Alternate Asset Management, stated, “We’re pleased to collaborate with Ravi (Dodda) and the team as MoEngage empowers global organisations to be more analytics-driven while generating customised interaction at scale.” “We will continue to partner with excellent entrepreneurs and support unique concepts in order to become industry leaders.”
Personalization and digitization will be crucial in attracting the Middle East’s growing number of tech-savvy clients. In 2022, around 67% of Middle Eastern consumers are expected to engage with leading brands through digital platforms.
“The fast adoption of smartphones in the region has ushered in a new era of customer and brand engagement, signalling the end of the one-size-fits-all message period. Today, a single message will not suffice unless it is carefully personalised to each individual customer. Customers are more empowered than ever before, and they have complete influence over their brand connections. Throughout the buying process, these buyers desire personalization “Kumar stated.
“Digitisation is no longer a trend, but rather a way of life. To get into this enormous and diversified consumer market, businesses must first establish a customer data platform (CDP) that gathers information from numerous touchpoints (points of sale, website visits, browsing history, and so on) and provides insights into consumer behaviour. Artificial intelligence, machine learning, and data analytics could also be used by brands to better understand customer behaviour and personalise customer experiences across channels.”
Indeed, the Middle East, led by Dubai, is experiencing a paradigm shift in the deployment of AI-powered customisation, which benefits both consumers and companies.
