Retention cloud CleverTap, has acquired Leanplum, a San Francisco-based multi-channel customer engagement platform.
With this acquisition, CleverTap aims to enhance its capabilities and take its total customer base to over 1,200, in more than 100 countries.
Both companies will work together with digital brands to help increase their users’ engagement, retention and lifetime value through hyper-personalisation in real-time.
This integration will also enable the growth and marketing teams to break down user communication silos.
The deal is expected to close in Q2 of 2022 for an undisclosed amount.
Sunil Thomas, co-founder and executive chairman, CleverTap, 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. 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 behaviour 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.”
Sidharth Malik, chief executive officer, CleverTap, added, “I am looking forward to the journey with Leanplum. This coming together with Leanplum marks a monumental moment across the marketing technology landscape. This bridges the gap created by multiple martech tools and customer data platforms and will meet the growing needs of user-obsessed digital brands in a much more efficient way. 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 single dashboard.”
Momchil Kyurkchiev, co-founder and chief product officer, 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.”