Singapore — CleverTap, the modern and integrated retention cloud company, has announced it has signed definitive agreements to fully acquire San Francisco-based Leanplum, a multi-channel customer engagement platform with the deal is expected to close in Q2 of 2022.
Sunil Thomas, co-founder and executive chairman of CleverTap, said “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.”
The two companies 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 with delightful moments where they are, when they want and on their preferred channel. CleverTap and Leanplum will 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.
Momchil Kyurkchiev, co-founder and chief product officer of Leanplum, said, “When we started Leanplum, our vision was to meet customers’ real-time needs at the cutting edge of technology. 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.”
Simultaneously, Sidharth Malik, CEO of CleverTap, shared, “This coming together with Leanplum marks a monumental moment across the marketing technology landscape. 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.”
This buyout will establish CleverTap as a success-driven company with development centres 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 1000 customers in more than 100 countries around the world.