CleverTap Acquires Leanplum

CleverTap has acquired Leanplum, a multichannel customer engagement platform provider, for an undisclosed amount.

Together CleverTap and Leanplum will work with digital companies to increase user engagement, retention, and lifetime value. CleverTap and Leanplum will now bring real-time hyper-personalization, A/B testing, and increased scalability to their omnichannel engagement, analytics, and segmentation product lines.

"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," said Sunil Thomas, CleverTap co-founder and executive chairman, in a statement. "CleverTap and Leanplum have both been purposely built for a mobile-centric omnichannel world. The acquisition,combines platforms and teams to deliver the best behavior 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," he added.

"When we started Leanplum, our vision was to meet customers' real-time needs at the cutting edge of technology," said Momchil Kyurkchiev, co-founder and chief product officer of Leanplum, in a statement. "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."