Mumbai, India – Retention cloud CleverTap has announced the completion of its acquisition of Leanplum, a global multi-channel customer engagement platform. The acquisition was first announced on 19 May this year and was completed in a span of three weeks.
Through the acquisition, CleverTap will combine the product stack of both organisations and extend its solutions and technology to all its customers and prospects worldwide. As part of the acquisition process, Momchil Kyurkchiev, co-founder at Leanplum, has joined CleverTap’s leadership team as chief strategy officer.
Speaking on the acquisition process, Kyurkchiev said, “The martech landscape the world over is evolving at an exponential rate and hyper-personalised digital engagement at scale is the need of the hour. I am sure that together, Leanplum and CleverTap will address this need and continue to drive innovation in this space. CleverTap and Leanplum individually have had a robust presence in terms of geographical reach, industries, and categories. Collectively we will now become a dominant force with a large global footprint.”
Meanwhile, Sunil Thomas, co-founder and executive chairman at CleverTap commented that through the acquisition, their customers now have a wide variety of product features and options to choose from their product line-ups including A/B testing, segmentation, campaigns, journeys, among others. He also commented that at the same time, the acquisition provides a much bigger growth, exposure and learning opportunities for employees and collectively they will now become a dominant force with a large global footprint.
“As we expand globally, we are looking to retain as well as grow 100% of the Leanplum customers by bringing all combined capability on one platform in due course. We also plan to increase our headcount in the US and Europe. Together, we aspire to be recognized as a SaaS talent powerhouse built on a strong people-first culture driven by values and equality,” Thomas stated.
