Aampe, an AI-native user engagement platform for consumer mobile apps, has raised a $7.5 million Pre-Series A funding round led by Matrix Partners India and Peak XV Partners (formerly Sequoia Capital India & SEA). The company plans to use the funding to bolster product development and propel growth as it sustains its swift global expansion.
Founded in 2020, Aampe has secured a cumulative funding of $9.3 million through its most recent funding round. Serving more than 50 million users every month, Aampe’s customer portfolio includes HAAT, IntelyCare, PayU, Swiggy and ZALORA and is expanding its customer base across Asia, Europe and North America.
Aampe says it converts an app’s marketing messages into personalized experiences using advanced AI that monitors and adjusts based on each user’s unique interactions, clicks, and subsequent responses to each message they receive.
“AI dramatically alters how we build software, making the older ‘rules engine’ generation of software increasingly obsolete,” said Paul Meinshausen, co-founder and CEO of Aampe. “Marketers have been forced to define rigid paths for their users that ignore their individuality and diversity. Generic segmentation leads to frustration, reduced engagement, and slower growth. Aampe has created a way for CRM AI agents to iteratively learn user preferences and then adapt and respond to those preferences optimally, unlocking the benefits that better customer experience provides.”
Aampe claims that it has delivered remarkable outcomes across various sectors, spanning gaming, eCommerce, subscription apps, and FinTechs. The company says its clients have witnessed impressive results, including a 30% surge in new user conversions, a fourfold boost in customer retention rates, and substantial cost savings in SMS spending thanks to more efficient messaging—all while maintaining message performance at its peak.
Notably, in the initial eight months of 2023, Aampe achieved a monthly recurring revenue (MRR) growth rate of 32%.
“Customer engagement and marketing technology has been an early beneficiary of advances in AI and machine learning, and Aampe is a clear front runner in enabling organizations to adopt personalized and result-oriented communication to drive growth,” said Aakash Kumar, Managing Director of Matrix Partners India. “We’re delighted to lead this round to support a team that is best placed to build the next generation of an AI-native customer engagement stack for businesses and keenly look forward to collaborating with them as they scale up.”
“As the world switches from growth at all costs to profitable growth with a solid unit economics profile, the way users are engaged and retained inside an application world has become more important than ever,” said Anandamoy Roychowdhary, Partner – Surge, Peak XV Partners. “Aampe builds a fantastic product that has seen their customers significantly improve retention numbers. The users of these apps have much better outcomes as well. I’m excited for Aampe to take this great product to a lot more customers.”