MoEngage Challenges Adobe, Salesforce: Nears Unicorn Status, Eyes IPO

• MoEngage is seeing steady enterprise migrations from legacy marketing clouds like Adobe and Salesforce due to demand for AI-first, outcome-oriented platforms.
• The company recently closed a $280 million Series F round, valuing it at approximately $800-850 million, inching closer to unicorn status.
• MoEngage has crossed $100 million in annual recurring revenue (ARR) and is set to become profitable this quarter on an adjusted basis.
• CEO Raviteja Dodda stated MoEngage plans to be IPO-ready within two years, exploring options for an India flip.
• Growth is projected at 35% annually, driven by deeper penetration in North America, Europe, Middle East, and potential acquisitions from 2026-27.

Why It Matters: MoEngage thrives by attracting customers from legacy platforms, nearing unicorn status, and planning an IPO.