MoEngage acquires Aampe, betting on AI agents for marketing

Indian customer engagement software company MoEngage has acquired San Francisco-based startup Aampe in an all-cash deal. The financial terms were not disclosed, but a source familiar with the matter said the deal is worth tens of millions of dollars.

Founded in 2020, Aampe develops software that assigns a dedicated AI agent to each customer, enabling brands to personalize messaging based on individual behavior rather than traditional audience segments and campaign rules. The startup has over 30 customers across the U.S., Europe, and Asia-Pacific, and its annual recurring revenue grew 150% over the past year.

MoEngage co-founder and CEO Raviteja Dodda said the acquisition will help win customers using rival platforms like Salesforce and Adobe. "A large part of our growth is driven by migrations of enterprise customers from Salesforce Marketing Cloud and Adobe Experience Cloud," Dodda said. He noted that MoEngage recently signed several multi-million dollar annual contract value deals with customers that switched from Salesforce. He is hopeful that the Aampe acquisition will help win more such customers.

The acquisition comes as software companies race to embed AI deeper into enterprise applications, moving beyond tools that generate content or assist employees toward agents making 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 including Swiggy, Grab, and Taxfix, some of which also use MoEngage's customer engagement platform. The acquisition comes over six months after MoEngage raised $280 million through a mix of primary and secondary transactions. Around 20 Aampe employees will join MoEngage, taking the company's workforce to roughly 820 people. Aampe has raised about $28 million across three funding rounds from investors including Peak XV Partners, Z47, and Theory Ventures.