Indian customer engagement software firm MoEngage has made a significant move in the global marketing landscape by acquiring San Francisco-based startup Aampe. The all-cash deal, worth tens of millions of dollars, gives MoEngage access to technology that assigns AI agents to individual customers, allowing for personalized messaging based on their behaviour.
Aampe's software has already been used by brands such as Swiggy, Grab, and Taxfix, and has grown its annual recurring revenue by 150% over the past year. The startup has more than 30 customers across the US, Europe, and Asia-Pacific, and has raised around $28 million in funding.
The acquisition comes as software companies race to embed AI deeper into enterprise applications. In marketing, this includes deciding which customers to target, what messages to send, and when to send them. MoEngage's CEO, Raviteja Dodda, believes the acquisition will help the company win customers using rival marketing platforms like Salesforce and Adobe.
MoEngage serves more than 1,350 consumer brands across 75 countries, including customers in sectors such as retail, financial services, media, and food delivery. The acquisition of Aampe will take the company's workforce to roughly 820 people, with around 20 Aampe employees joining MoEngage.