Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Boomtrain, a US-based marketing platform that uses artificial intelligence (AI) has signed a definitive agreement to acquire Bengaluru-based Nudgespot. Terms of the acquisition were undisclosed.
The acquisition is done in a bid to accelerate AI-powered messaging between businesses and consumers and expand operations into APAC (Asia Pacific).
Nudgespot was founded in May 2014 by Raveen Sastry, Anubhav Sudha, Suresh Harikrishnan and Alok Shankar. It is a communication platform which helps its users to manage customer communication by providing tools to trigger emails, SMS, push notifications, and in-app messages.
On the other hand, Boomtrain is an artificial intelligence-powered marketing platform that drives relevant interactions with your users at every touchpoint, increasing engagement with your brand. Founded in 2012, the company is headquartered in San Francisco and is backed by top-tier VC firms including Cota Capital, Crosslink Capital, Lerer Ventures, Sierra Ventures, and Streamlined Ventures.
Nick Edwards, CEO and founder of Boomtrain, said, “The acquisition of Nudgespot will accelerate our strategy to enable AI-powered communications between businesses and their customers.”
He further added, “The co-developed product will be a productised messaging application that will be fully integrated into a marketing suite. This will give marketers the ability to incorporate multi-channel chat functionality, combined with our artificial intelligence platform, to facilitate personalised, scalable conversations with their customers.”
Boomtrain and Nudgespot initially partnered nine months ago, and have been co-developing a product that combines Nudgespot’s platform with Boomtrain’s AI technology.
Raveen Sastry, co-founder of Nudgespot, said, “Teaming up with Boomtrain will continue to extend our offering to more businesses in need of advanced, easy-to-use B2C messaging solutions, powered by advanced artificial intelligence.”
With the addition of Nudgespot, Boomtrain significantly expands its APAC business. Together, Boomtrain and Nudgespot will have 70 people in offices located in San Francisco and Bangalore. The teams will continue to collaborate to add more functionality to Boomtrain Messenger during its beta programme.
Nudgespot’s Raveen Sastry was the co-founder of online fashion retailer Myntra and Hoopos. Sastry exited Myntra when it was acquired by Flipkart in 2014. Before that in 2013, Hoopos was acquired by competitor BabyOye in an undisclosed, all-stock deal. Last year in May, Nudgespot raised about $629K (INR 4 Cr.) in seed funding from Kae Capital and a few angel investors including Anoop Goyal, Mike Shah and V.A. Sastry.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.