Legal · Enterprise Software & IT

MoEngage gets NCLT nod for reverse merger

By Startup Enthusiast · 30 January 2026

What they do

MoEngage provides AI-powered customer engagement and messaging tools for enterprises

The NCLT Bengaluru bench approved the reverse merger of its US parent into the Indian entity, a key step toward a potential India IPO

The company, which raised a $280 million Series F in December 2025, aims to be IPO-ready in the next couple of years

The NCLT Bengaluru bench approved the reverse merger of MoEngage Inc (Delaware) into MoEngage India Private Limited on 12 Jan 2026.
In a reverse merger, the US parent merges into the Indian subsidiary and ceases to exist without winding up.
All assets, liabilities and operations of the US entity transfer to the Indian company.
This approval clears a key regulatory step for corporate restructuring ahead of a potential India IPO.
The company is evaluating an IPO on domestic bourses and has been in talks with advisers and bankers since last year.
Founder and CEO Raviteja Dodda said the company is assessing the right avenue and timing for listing.
MoEngage aims to be IPO-ready over the next couple of years.

SaaS companies like CleverTap and Amagi are increasingly shifting their legal base to India as the path to a public listing becomes more viable on home ground.
The company raised a $280 million Series F in December 2025, indicating strong investor confidence ahead of a potential listing.

MoEngage provides customer engagement, analytics and messaging tools powered by AI.
Its platform helps marketing and product teams manage customer journeys across web, mobile and digital channels.
The company serves more than 1,350 enterprises across 75 countries.
About 60% of clients are traditional enterprises; the rest include new-age digital companies like Swiggy, Ola, Mamaearth and Policybazaar.
Revenue geography: about 30% from North America, 25% from Europe and West Asia, and the remainder from India and other markets.
MoEngage employs close to 800 people globally and has headquarters in Bengaluru and San Francisco.

MoEngage aims to be IPO-ready over the next couple of years.
The company is evaluating an IPO on domestic bourses and is in talks with advisers and bankers.

Product: Customer engagement and marketing automation platform with agentic AI agents
Customers: Consumer brands and enterprises managing customer interactions
How it makes money: SaaS subscription for customer engagement and marketing automation
What sets it apart: Proprietary AI agents that automate personalized customer interactions at scale