Weeks after raising $100M, investors pump another $180M into hot Indian startup MoEngage [TechCrunch]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: TechCrunch
over a month after securing $100 million , with a majority of the latest funding providing liquidity to investors and employees through secondary transactions. In the latest raise, about $123 million was secondary, including a $15 million employee tender that provided liquidity to 259 current and former employees, while the remaining $57 million was raised as primary capital and went into the business. The round was led by ChrysCapital and Dragon Funds, with participation from Schroders Capital and existing investors TR Capital and B Capital. Early backers, including Eight Roads Ventures, Helion Venture Partners, Z47, and Ventureast, sold shares in the secondary transactions. The deal valued MoEngage at “well over” $900 million post-money, per a person close to the deal, who added that the startup was tracking toward $100 million in annualised recurring revenue this year. MoEngage did not disclose these figures. MoEngage plans to use the fresh capital to invest further in its Me
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