CleverTap announced that it has signed definitive agreements to fully acquire San Francisco-based Leanplum, a multi-channel customer engagement platform, for an undisclosed amount.
This acquisition will make CleverTap a truly global company with development centers and customer-facing and success teams across North America, Europe, Latin America, India, South East Asia, and the Middle East. Combining the product stack of the two organizations, this acquisition will enhance CleverTap’s capabilities and take its total customer base to over 1200 customers in more than 100 countries around the world. The deal is expected to close in Q2 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. As more businesses become digital-first, brands need to serve their users delightful moments where they are, when they want, and on their preferred channel. 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 globally will now be able to utilize the only end-to-end user engagement and retention cloud platform, enabling them to break down user communication silos and increase the overall lifetime value of each user.
“We are seeing a seismic shift in the marketing technology landscape,” says Sunil Thomas, CleverTap Co-founder, and Executive Chairman. “Users today demand to be treated as individuals, forcing brands to change how they engage with them. CleverTap and Leanplum have both purposely built for a mobile-centric omnichannel world.” The acquisition, he says, combines platforms and teams to deliver the best behavior analytics, segmentation, and engagement tools that will enable digital brands to build valuable, long-term relationships with their 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 started Leanplum, our vision was to meet customers’ real-time needs at the cutting edge of technology,” says Momchil Kyurkchiev, Co-founder and Chief Product Officer, Leanplum. “We have succeeded in that, but 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, and I am excited about the combined capabilities we will now bring to Leanplum customers worldwide.”
“I am looking forward to the journey with Leanplum. This coming together with Leanplum marks a monumental moment across the marketing technology landscape,” says Sidharth Malik, CleverTap Chief Executive Officer. “This 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 efficiently. Our ‘better together’ vision is about integrating our cumulative strengths around people, process, and technology to cement our position as the global leader in the user engagement and retention space. Joining forces allows us to bring advanced product and technology capabilities as brands strive to do live segmentation, anticipate user intentions and actions, automate and deploy real-time campaigns for the highest possible conversions, all from one dashboard.”
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