MoEngage, an Indian customer engagement software firm, has acquired San Francisco-based startup Aampe in an all-cash deal. The acquisition is valued at tens of millions of dollars. Aampe's software assigns a dedicated AI agent to each customer, allowing brands to personalize messaging based on individual behavior.
The startup has over 30 customers across the U.S., Europe, and Asia-Pacific, and has grown annual recurring revenue by 150% over the past year. MoEngage co-founder and CEO Raviteja Dodda believes the acquisition will help the company win customers from rival marketing platforms like Salesforce and Adobe.
The acquisition is part of a larger trend of software companies embedding AI deeper into enterprise applications. Aampe's technology is used by brands including Swiggy, Grab, and Taxfix, and around 20 Aampe employees will join MoEngage.
