Tiger Global, Sequoia India backed CleverTap acquires Leanplum
The acquisition of Leanplum will give CleverTap access to North America and Europe markets, along with complementary capabilities in retention cloud space.
, a user engagement and retention cloud startup that helps digital brands strengthen their relationship with customers, has acquired San Francisco based Leanplum, a multi-channel customer engagement platform, for an undisclosed value.
Following this acquisition, CleverTap now gets access to developed markets including North America and Europe, along with entry into newer business segments.
On the acquisition, CleverTap Co-founder and Executive Chairman Sunil Thomas said, “It combines platforms and teams to deliver the best behaviour analytics, segmentation, and engagement tools that will enable digital brands to build valuable, long-term relationships with their users.”
The acquisition of Leanplum allows CleverTap to have a global presence cutting across multiple geographies. Currently, CleverTap has presence in markets like India, South East Asia, Middle East, and Latin America but not much into the developed markets. The combined entity will take its total customer base to over 1,200 in more than 100 countries.
The statement from the company noted that together, CleverTap and Leanplum will work with digital brands to help increase their user engagement, retention and lifetime value by making every user experience hyper-personalised, relevant and contextual at scale in real time.
Sunil said, “We are seeing a seismic shift in the marketing technology landscape. Users today demand to be treated as individuals, and this has forced brands to change how they engage with them.”
Leanplum co-founder Momchil Kyurkchiev said, “As the market has matured, to fully meet the increasing demands put on brands today, we needed to bring in the best analytics, segmentation, and engagement tools, to help our customers build valuable, long-term relationships with their customers. This is why joining forces with CleverTap makes the most sense.”
CleverTap was founded in 2013 by Sunil Thomas, Anand Jain, and Suresh Kondamudi, and has raised funding from the likes of Tiger Global, Sequoia India, Accel among others.
The startup works with customers including Vodafone Idea, SonyLIV, Daimler, Gojek, Carousell, Premier League etc.
Edited by Kanishk Singh