Tag: leanplum

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.

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.