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.”
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