Braze, the leading customer engagement platform that empowers brands to Be Absolutely Engaging, announced that it has entered into a definitive agreement to acquire OfferFit, an AI decisioning company, for $325 million, subject to customary closing adjustments.
AI decisioning agents can autonomously experiment, learn, and deliver highly relevant, personalized experiences. In September 2024, Braze shared its vision for agentic AI in customer engagement, building on its existing artificial intelligence research with the planned development of Project Catalyst. This native AI agent is designed to help brands personalize and optimize experiences with highly relevant Journeys, Content, and Incentives.
For four years, OfferFit has been building a multi-agent solution that recommends individualized cross-channel customer journeys in partnership with customer engagement solutions like Braze. Already brands have seen improved uplift by using the OfferFit AI technology, for example personalizing over a hundred characteristics within an email to promote new customer signups, or optimizing reactivation campaigns for inactive users. Once closed, Braze will be able to both more deeply integrate the existing sophisticated, multi-agent approach from OfferFit into its broader platform, and also leverage expertise from the OfferFit team alongside current Project Catalyst development to collectively drive more sophisticated experimentation and deliver 1:1 personalization for all aspects of a customer experience.
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“At Braze, we’ve been innovating to help brands take advantage of frontier technology since our founding over a decade ago. From the beginning, our real-time stream processing technology differentiated Braze’s modern approach to cross-channel Customer Engagement. Combined with Canvas as an orchestration layer and infused with BrazeAI throughout our stack, Braze is now responsible for the rapid and reliable delivery of trillions of personalized messages each year,” said Bill Magnuson, Cofounder and CEO of Braze. “And now, with Braze’s planned acquisition of OfferFit, our complementary products and teams will come together to define the next chapter of the evolution of Customer Engagement with AI. George, Victor, and I are incredibly excited about a future where reinforcement learning and modern transformer architectures are wielded within the Braze product ecosystem to drive a vision where Agentic AI automatically understands customers in greater depth, engages with them more completely, and strengthens customer relationships through heightened messaging relevance and intelligent optimization.”
SOURCE: Businesswire