MoEngage, an Indian customer engagement software company serving brands in global markets, has acquired San Francisco-based startup Aampe in an all-cash deal. This makes us confident that AI agents making decisions for individual customers will be the future of marketing.
MoEngage did not disclose the financial terms of the deal, but sources familiar with the matter told TechCrunch that the all-cash deal was worth tens of millions of dollars.
Founded in 2020, Aampe develops software that assigns a dedicated AI agent to each customer, allowing brands to personalize messaging based on individual behavior rather than traditional audience segments and campaign rules. Raviteja Dodda, co-founder and CEO of MoEngage, said in an interview that the startup has more than 30 customers across the U.S., Europe and Asia Pacific and has grown annual recurring revenue by 150% over the past year.
Dodda told TechCrunch that the acquisition will help it acquire customers using competing marketing platforms such as Salesforce and Adobe.
“A big part of our growth has been driven by the migration of our enterprise customers from Salesforce Marketing Cloud and Adobe Experience Cloud,” Dodda said.
MoEngage recently signed contracts with annual contract value of $3 million to $4 million with customers who converted from Salesforce, Dodda said. He hopes the Aampe acquisition will help him reach more of those customers.
The acquisition comes as software companies are racing to embed AI deeper into enterprise applications and move beyond tools that generate content or assist employees into agents that make autonomous decisions. Marketing involves 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 through primary and secondary transactions. Approximately 20 Aampe employees will join MoEngage, bringing the company’s workforce to approximately 820.
MoEngage says it serves more than 1,350 consumer brands in 75 countries, including customers in sectors such as retail, financial services, media and food delivery.
Founded in 2020, Aampe has raised approximately $28 million across three funding rounds. The startup counts Peak XV Partners, Z47, and Theory Ventures among its investors.
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