CleverTap acquires Leanplum
June 13, 2022
CleverTap, the retention cloud, has completed the acquisition of San Francisco based Leanplum, a multi-channel customer engagement platform.
With this acquisition, CleverTap has strengthened its footprint in the US and Europe. CleverTap says it will combine the product stack of both organisations and extend its solutions and technology to all its customers and prospects worldwide. Momchil Kyurkchiev, Co-Founder of Leanplum, 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. The acquisition becomes revenue accretive for CleverTap from June 1st 2022.“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 3-4 quarters,” said Sunil Thomas, CleverTap Co-founder and Executive Chairman. “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”. “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,” commented Momchil Kyurkchiev, Chief Strategy Officer at CleverTap. “As we expand globally, we are looking to retain as well as grow 100 per cent 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 recognised as a SaaS talent powerhouse built on a strong people-first culture driven by values and equality,” added Sunil.