Dodda: Next wave of Indian public listings will be SaaS companies
Raviteja Dodda · Ola, Flipkart & Swiggy use This $800 Million Software to Send Notifications | Raviteja, MoEngage · Oct 10, 2025 · at 1:13:09
MoEngage CEO Raviteja Dodda discusses the maturation of Indian enterprise software companies and their upcoming public market debuts.
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“I'm sure there'll be a lot, the next generation of Public companies, even in Indian markets, one of the next generation of companies will be SaaS companies beyond obviously the IT services that happened and also the consumer internet that happened.”
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More from Raviteja Dodda
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“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.”
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“Yeah, yeah, for sure. I think more like 20 plus.”
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…”
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?”
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.”
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 …”