MAM
CleverTap acquires San Francisco-based Leanplum
Mumbai: CleverTap has completely acquired San Francisco-based Leanplum, a leading multi-channel customer engagement platform. The acquisition, originally announced on 19 May, was closed in a record time of three weeks. It becomes revenue accretive for CleverTap from 1 June 2022.
With this acquisition, CleverTap has strengthened its footprint in the US and Europe. CleverTap will combine the product stack of both organizations and extend its world-class solutions & technology to all its customers and prospects worldwide.
Leanplum co-founder Momchil Kyurkchiev has joined CleverTap’s leadership team as chief strategy officer. With the completion of the acquisition, CleverTap also welcomes marquee investors Norwest Partners, Shasta Ventures, Canaan, and Kleiner Perkins as its shareholders.
“We are very excited to welcome Momchil and all Leanplum employees to the CleverTap family and expect full integration of the two companies, including an integrated product in the market to get completed over the next three to four quarters,” said CleverTap co-founder and executive chairman Sunil Thomas.
“With this acquisition customers will now have a wide variety of product features and options to choose from the best of both product line-ups (A/B testing, segmentation, campaigns, journeys etc.) At the same time, the acquisition provides a much bigger growth, exposure and learning opportunities for employees and collectively we will now become a dominant force with a large global footprint,” he added.
“As we expand globally, we are looking to retain as well as grow 100 percent 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,” added Sunil.
CleverTap chief strategy officer Momchil Kyurkchiev commented, “The Martech landscape the world over is evolving at an exponential rate and hyper-personalized 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.”
Brands
Dabur buys minority stake in Ras Beauty for Rs 60 crore
Dabur Ventures deal backs fast-growing luxury skincare brand
MUMBAI: Dabur India Limited has dipped into the world of luxury skincare, signing a definitive agreement to acquire a minority stake in Ras Beauty Private Limited for Rs 60 crore. The investment marks the first bet from Dabur Ventures, the FMCG major’s Rs 500 crore platform set up in October 2025 to back high-potential, new-age direct-to-consumer brands.
Founded in Raipur by Shubhika Jain, her sister Suramya Jain and their mother Sangeeta Jain, Ras Beauty has grown from a family-led passion project into a fast-scaling “Farm-to-Face” skincare label. Its range of face elixirs, serums and moisturisers blends essential oils with nature-derived actives, striking a balance between botanical purity and laboratory precision.
The numbers tell their own story. Ras has clocked a three-year Cagr of around 75 per cent and an annual run rate of approximately Rs 100 crore, all while maintaining strong gross margins. That growth has been fuelled by a digital-first approach, in-house R&D and manufacturing, and a sharp focus on clean, sustainable sourcing.
Dabur India executive director and group head corporate strategy Abhinav Dhall, said the company was drawn to Ras’s distinct positioning at the intersection of nature, science and luxury. He added that the premium beauty segment is poised for robust expansion over the coming decade, and that Ras is well placed to capture that opportunity.
For Ras, the partnership is as much about scale as it is about shared philosophy. Co-founder and CEO Shubhika Jain said Dabur’s 141-year legacy of building trusted, purpose-led brands makes it a natural ally. The capital infusion, she noted, will help accelerate the brand’s omnichannel footprint, deepen research capabilities and invest in team and brand building, with an eye on establishing Ras as a leading Indian luxury skincare name both domestically and overseas.
With this move, Dabur is not just investing in a skincare label. It is placing an early wager on India’s growing appetite for premium, conscious beauty, and signalling that heritage FMCG players are ready to play in the new-age D2C arena.
