MoEngage CEO Raviteja Dodda discusses with Siddharth Ahluwalia the capital requirements for enterprise SaaS startups scaling in the US market versus India.
Assertion Not checkable as stated
Dodda: MoEngage added more Indian net new business than competitors
“Over the last two, three years, I think we added, we had much more net new business in India than any other player out there.”
Insight
Dodda: SaaS growth eventually plateaus if confined solely to the Indian market
“If you're building a venture-backed company, so that means that you're basically kind of looking at, okay, how can I build a hundred million dollar or multi-hundred million dollar year at a company, right? Which means that, like, you might, you would kind of l…”
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Dodda: MoEngage directly drives 15% to 20% of customer revenue
“Our customers see anywhere from 15 to 20% of their revenue coming from CRM channels powered by MoEngage with a direct attribution, not even influence attribution, right?”
Insight
Dodda: Six-figure ACVs from Indian companies validate PMF
“If you are able to get Indian companies pay a hundred K plus and even half a million dollar plus kind of in terms of ACVs. I mean, it's a big, I would say validation of the product market fit.”
Disclosure
Dodda: MoEngage US pricing is 2.4x to 3x higher than in India
“So broadly, I think it's typically like, two to three X. Okay. 2.4 to three X. Got it. In terms of the, if you take the similar metrics that's an average, and it can be even, there are obviously customers in, in the US will pay, who can pay like four X and so …”
Insight
Dodda: Do not ignore inbound enterprise RFPs you did not influence
“People always say that, hey, if you haven't built the RFP, you haven't helped to build the RFP, it's hard to win. But we have actually had a good experience. So we were able to win in multiple RFPs, which we did not help build. I mean, obviously there are also…”