For just over a decade, Leanplum has been focusing on engagement, personalisation, and optimisation metrics and strategies aimed at helping companies operating in the gaming, subscription, on-demand & mobility apps, and mobile retail & finance sectors not only meet, but exceed customer expectations.
Just across the way, Mountain View, California-based CleverTap works on user retention and lifetime value creation for brands, naturally, supported with a healthy heap of data, personalisation, deep-tech, and automation.
If you’re seeing the synergies already, I don’t blame you, and it would appear as though this acquisition was just a matter of time.
According to CleverTap, with the two entities now combined, the service will offer, “real-time hyper-personalisation, A/B testing, and increased scalability to its omnichannel engagement, analytics, and segmentation product lines.”
Personally, statements like that scare the pants off of me, but, I get it, and whether I know it or not, I’ve probably already benefitted in one way or another from hyper-personalisation. Just … Don’t stand so close to me.
“When we started Leanplum, our vision was to meet customers’ real-time needs at the cutting edge of technology,” says Bulgarian-born Momchil Kyurkchiev, co-founder and chief product officer at Leanplum. “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.”
CleverTap has signed definitive agreements to fully acquire Leanplum in a deal that is expected to close in Q2 of this year. The financial terms and conditions of the transaction were not disclosed. Previous backers of the latter include Sofia-based LAUNCHub Ventures.
“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,” commented CleverTap co-founder Sunil Thomas. “Our combined strength will be a game-changing force for user engagement, retention, and monetisation, creating tremendous value for our customers.”
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