MoEngage, the leading platform for insights-driven customer engagement, sees sales in Europe quadruple year-on-year. The company aims to accelerate its next phase of growth, solidifying its position as a leader in marketing technology (MarTech) and entering new European markets in 2022.
MoEngage was able to add a number of new names to its list of clients in the second half of 2021. Retailers and brands already using MoEngage include well-known names such as Nestlé, Travelodge and Deutsche Telekom. At the same time, the company recorded a strong customer retention rate of 97% globally. To further strengthen its offering and capability, MoEngage also expanded its technology partnerships and formed strategic alliances with a number of leading solution providers – including the customer data platform mParticle and the product analysis tool Mixpanel .
In 2020, global digital retail sales grew 25.5% to $4.2 trillion due to the pandemic, accelerating the demand for e-commerce that continues today. Online retail sales are expected to continue growing globally, reaching $ 5.5 trillion in 2022, according to eMarketer. This digital-first demand has paved the way for increased expectations around customer engagement: consumers now want seamless, personalized communications that deliver the right message, at the right time, on the right channel, to support their purchasing decisions and their strengthen brand loyalty.
Also Read: Boosting Customer Engagement with Conversational Marketing
The solution from MoEngage addresses the new needs of consumers in terms of digital transformation: The way consumers interact with brands today is supported by means of the platform for knowledge-based customer engagement. MoEngage’s AI-powered automation and optimization delivers hyper-personalization at scale and across multiple channels—from mobile push to email, SMS to on-premises and in-app messaging and beyond. This allows brands a data-driven analysis of consumer behavior. This can improve segmentation and intensify personalization at each individual touchpoint.
MoEngage helps customer-centric marketers improve engagement, retention, and customer lifetime value. At the same time, it increases ROI on marketing spend and reduces customer acquisition (CAC) costs. Because of these benefits, MoEngage received the top spot in Gartner’s “Voice of the Customer” report of the technologies they evaluated. Additionally, MoEngage was named a “Strong Performer” by Forrester in the Cross-Channel Campaign Management 2021 study, with MoEngage being a leader in nine categories including AI, Personalization, Mobile Engagement and Digital Intelligence.
The technology powering MoEngage’s groundbreaking customer engagement platform isn’t just catching the attention of analysts. The company’s rapid growth, strong product roadmap and problem-solving skills have also caught the attention of several top-class investors.
In December 2021, MoEngage closed its recent Series D funding round. With a $30 million investment led by Steadview Capital, this brought total funding to over $100 million. This cash injection will underpin MoEngage’s rapid growth trajectory: global research & development and further corporate development are to be accelerated through a series of strategic new hires as part of the European expansion.
The company recently appointed Jason Smith as VP of Sales (UK & Europe). He brings more than ten years of experience scaling fast-growing technology and martech companies, having previously held senior leadership roles at Google, Groupon, Exponea and Insider. In addition, MoEngage plans to double the European team in all departments in the current year. In addition, after the newly opened European headquarters in London and Berlin, offices in France, Spain and Italy are also to follow.
Raviteja Dodda, CEO and Co-Founder of MoEngage, states: “The growth in digital that we have witnessed over the past 18 months has caused many retailers and brands to reevaluate their point of view on the journey to optimal customer engagement. A comprehensive 360-degree view of customers across all touchpoints is only possible if all relevant aspects can be connected through data-driven insights. However, this is exactly where many companies are unable to act to the extent required for success. Based on the high expectations in e-commerce, our goal is to help even more brands put their customers at the center of everything they do to increase engagement, retention and loyalty.”
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