Mumbai: Retention cloud leader CleverTap announced on Thursday that it has signed definitive agreements to fully acquire San Francisco-based Leanplum, a leading multi-channel customer engagement platform, for an undisclosed sum .
This acquisition will make CleverTap a truly global company with development centers and customer-facing and success teams in North America, Europe, Latin America, India, Southeast Asia and the Middle East. East. Combining the product line of both organizations, this acquisition will strengthen CleverTap’s capabilities and bring its total customer base to more than 1,200 in more than 100 countries around the world. The deal is expected to close in the second quarter of 2022.
Together, CleverTap and Leanplum will work with digital brands to help increase their users’ engagement, retention, and lifetime value by making every user experience hyper-personalized, relevant, and contextual at scale in real time.
CleverTap and Leanplum will now bring real-time hyper-personalization, A/B testing and increased scalability to its omnichannel engagement, analytics and segmentation product lines. As a result, growth and marketing teams around the world will now be able to use the only cloud-based end-to-end user engagement and retention platform, enabling them to break down user communication silos and increase the overall lifetime value of each user.
CleverTap Co-Founder and Executive Chairman Sunil Thomas, “We are witnessing a sea change in the marketing technology landscape. Users today demand to be treated as individuals, which has forced brands to change their way to interact with them. Both CleverTap and Leanplum were purpose-built for a mobile-centric omnichannel world.”
The acquisition, he says, combines platforms and teams to provide the best behavioral analytics, segmentation and engagement tools that will enable digital brands to build valuable, long-term relationships with their customers. users. “Our combined strength will be a game-changing force for user engagement, retention and monetization, creating tremendous value for our customers. I am very excited to welcome Leanplum to the CleverTap family.
“When we launched Leanplum, our vision was to meet the real-time needs of cutting-edge customers,” said Momchil Kyurkchiev, co-founder and chief product officer of Leanplum. “We have achieved this, but as the market has matured, to fully meet the growing demands placed on brands today, we needed to bring the best analytics, segmentation and engagement tools, to help our customers creating long-term value relationships with their customers, which is why partnering with CleverTap makes the most sense, and I’m excited about the combined capabilities we’ll now bring to Leanplum customers around the world.
“I look forward to traveling with Leanplum. This combination with Leanplum marks a monumental moment in the marketing technology landscape,” said Sidharth Malik, CEO of CleverTap. “It bridges the gap created by multiple martech tools and customer data platforms and will meet the growing needs of user-obsessed digital brands much more effectively. Our ‘better together’ vision is to integrate our cumulative strengths around people, process and technology to solidify our position as a global leader in user engagement and retention.”
“Joining forces enables us to bring advanced product and technology capabilities as brands strive to do live segmentation, anticipate user intent and actions, automate and deploy campaigns. in real time for the highest possible conversions, all from a single dashboard,” he added.