Aampe raises $7.5M led by Matrix Partners India and Peak XV Partners
Bengaluru, Thursday, 5th October, 2023: Aampe, an AI-native user engagement platform, raised $7.5 million in a Pre-Series A round led by Matrix Partners India and Peak XV Partners. The funds will be deployed for product development and growth, as the company continues to rapidly expand across the globe.
Aampe automates content creation, experimental design, and conversion tracking, among other uses. Improving those marketing processes significantly boosts user engagement and conversion rates while reducing the time and effort required to manage traditional rules-based systems.
Over the last several years, the marketing industry has grappled with the opportunities presented by personalization and the challenges associated with properly implementing it. Today, managing customer relationships suffers from the inefficiencies created by traditional, manual processes. Within CRM systems, marketers must manually segment user populations, build user journeys with minimal guidance, and perform labour-intensive A/B tests.
By redesigning what was traditionally a one-way communication to users, Aampe turns an app's marketing messaging into a personalized experience through agentic AI that tracks and adapts to each user's individual responses, clicks, and subsequent actions in response to each message they receive. Marketers can then collect the insights gained about users within a simple dashboard to understand individual user preferences, behaviours, and motivations.
"AI dramatically alters how we build software, making the older 'rules engine' generation of software increasingly obsolete,” said Paul Meinshausen, Co-founder and CEO, 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."
“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, 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.”
With its latest funding, Aampe has now raised a total of $9.3 million since its founding in 2020. Aampe currently serves over 50 million users each month, delivering impactful results for a diverse range of customers, such as HAAT, IntelyCare, PayU, Swiggy, and ZALORA, among others, and is growing its customer base across Asia, Europe, and North America.
From gaming to eCommerce and subscription apps to FinTechs, Aampe's customers have garnered strong results by using Aampe's AI-driven approach to customer lifecycle management. Customers have reported a 30% increase in new user conversions, a 4x increase in customer retention, and hundreds of thousands of dollars in savings on SMS spending through more efficient messaging, with no reduction in messaging performance. In the first eight months of 2023, Aampe's MRR grew at a compound monthly growth rate of 32%.
About Aampe:
Aampe is an AI-native user engagement platform for consumer mobile apps. Without replacing existing CRM systems, its customers can create personalized omnichannel customer experiences proven to increase customer engagement and retention. Aampe continuously tests different message strategies to understand which attributes drive customer engagement and automates previously manual processes for content creation, experimental design, conversion tracking, and ongoing iterations. To learn more, visit Aampe.com.
About Matrix Partners India: Founded in 2006, Matrix Partners India invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. The firm has invested in several enterprise technology companies such as MoEngage (Customer engagement platform), Toddle(Teaching & learning platform), SuperOps.ai (AI-powered PSA-RMM platform), Rocketlane(Customer onboarding platform), Murf AI (Synthetic speech technology), 100ms (Live video infrastructure) and Atomicwork (Employee success solution) amongst others. Other marquee investments include Dailyhunt (Local language platform), Five Star Business Finance (SME lending), OfBusiness (B2B commerce, fintech), Ola (Mobility), Ola Electric (Electric vehicles), OneCard (Mobile-first credit card), Oxyzo (Tech-enabled smart financing), Razorpay (Payments), Country Delight (D2C dairy & fresh foods brand), GoKwik (E-commerce enablement platform), Jupiter (Neobank), and Mosaic Wellness (Health & wellness), among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.
