Indian customer engagement software company MoEngageserving brands in global markets, has acquired a San Francisco-based startup Ahh in an all-cash deal, betting that AI agents making decisions about 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 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 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 has grown annual recurring revenue by 150% in the past year, MoEngage co-founder and CEO Raviteja Dodda said in an interview.
Dodda told TechCrunch that the acquisition will help it win over customers using rival marketing platforms like Salesforce and Adobe.
“A large part of our growth has been driven by the migration of enterprise customers from Salesforce Marketing Cloud and Adobe Experience Cloud,” said Dodda.
MoEngage has recently signed three to four million dollars worth of deals with customers who switched from Salesforce, Dodda said. He hopes the Aampe acquisition will help him win more such customers.
The acquisition comes as software companies struggle to embed artificial intelligence deeper into enterprise applications, moving beyond tools that generate content or assist employees to agents that make autonomous decisions. In marketing, this 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 more than six months after MoEngage raised $280 million through a mix of primary and secondary deals. About 20 Aampe employees will join MoEngage, bringing the company’s workforce to about 820 people.
MoEngage said 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 in three funding rounds. The startup counts Peak XV Partners, Z47 and Theory Ventures among its investors.
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