technology
MoEngage Buys San Francisco AI Startup Aampe in All-Cash Deal
Indian customer engagement firm MoEngage bought Aampe, whose software assigns dedicated AI agents to individual customers. The transaction was worth tens of millions of dollars, a source said. About 20 Aampe employees will join MoEngage.
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Indian customer engagement software firm MoEngage acquired San Francisco-based startup Aampe in an all-cash transaction, TechCrunch reported. The deal gives MoEngage access to technology that assigns dedicated AI agents to individual customers for personalized messaging.
Financial terms were not disclosed, but a source familiar with the matter said the transaction was worth tens of millions of dollars.
Europe, and Asia-Pacific. It grew annual recurring revenue by 150 percent over the past year, according to MoEngage co-founder and Chief Executive Raviteja Dodda. Dodda said the acquisition will help win customers using rival platforms such as Salesforce and Adobe.
“A large part of our growth is driven by migrations of enterprise customers from Salesforce Marketing Cloud and Adobe Experience Cloud,” he said. MoEngage recently signed three to four multi-million-dollar annual contract value deals with customers that switched from Salesforce. Aampe’s technology is used by Swiggy, Grab, and Taxfix, some of which also use MoEngage’s platform.
The acquisition comes six months after MoEngage raised $280 million. Approximately 20 Aampe employees will join MoEngage, bringing its workforce to roughly 820 people. Aampe has raised about $28 million from investors including Peak XV Partners, Z47, and Theory Ventures.
