Indian customer engagement platform MoEngage has acquired Aampe, a startup that assigns a dedicated AI agent to each customer, allowing brands to personalize messaging based on individual behavior rather than traditional audience segments. MoEngage did not disclose financial terms, but a source familiar with the matter told TechCrunch the all-cash deal was worth tens of millions of dollars.
Founded in 2020, Aampe has more than 30 customers across the U.S., Europe, and Asia-Pacific, and grew annual recurring revenue by 150% over the past year, according to MoEngage co-founder and CEO Raviteja Dodda. Dodda said the acquisition will help MoEngage win customers using rival marketing platforms such as Salesforce and Adobe, noting that a large part of the company's growth is driven by migrations from Salesforce Marketing Cloud and Adobe Experience Cloud. MoEngage recently signed three to four multimillion-dollar annual contract value deals with customers that switched from Salesforce. Aampe's technology is used by brands such as Swiggy, Grab, and Taxfix.
Around 20 Aampe employees will join MoEngage, taking the company's workforce to roughly 820 people. MoEngage said it serves more than 1,350 consumer brands across 75 countries. The acquisition comes over six months after MoEngage raised $280 million through a mix of primary and secondary transactions. Aampe has raised about $28 million across three funding rounds, with investors including Peak XV Partners, Z47, and Theory Ventures.