Indian customer acquisition software company MoEngage has acquired a San Francisco-based startup Aampe in an all-cash deal, betting that AI agents making decisions for individual customers will become the future of marketing.
MoEngage did not disclose the financial terms of the transaction, but a source familiar with the matter told TechCrunch that the cash deal was worth tens of millions of dollars.
Founded in 2020, Aampe develops software that assigns a dedicated AI agent to each customer. Allow brands to personalize messages. based on individual behavior rather than traditional audience segments and campaign rules. The startup has more than 30 customers in the US, Europe and Asia-Pacific, and grew its annual recurring revenue by 150% over the past year, MoEngage co-founder and CEO Raviteja Dodda said in an interview.
Dodda told TechCrunch that the acquisition will help it gain customers using rival marketing platforms like Salesforce and Adobe.
“A large part of our growth is driven by enterprise customer migrations from Salesforce Marketing Cloud and Adobe Experience Cloud,” Dodda said.
MoEngage recently signed three to four deals worth multimillion-dollar annual contracts with customers switching from Salesforce, Dodda said. He hopes the acquisition of Aampe will help him get more such clients.
The acquisition comes as software companies rush to integrate AI more deeply into enterprise applications, moving beyond tools that generate content or help employees to agents that make autonomous decisions. In marketing, that includes deciding which customers to target, what messages to send, and when to send them.
Aampe’s technology is used by brands such as Swiggy, Grab and Taxfix, some of which also use MoEngage’s customer engagement platform.
The acquisition comes six months after MoEngage. raised 280 million dollars through a combination of primary and secondary transactions. Around 20 Aampe employees will join MoEngage, bringing the company’s workforce to approximately 820 people.
Founded in 2020, Aampe has raised around $28 million across three funding rounds. The startup counts Peak XV Partners, Z47 and Theory Ventures among its investors.
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