M&A

M&A

Customer engagement platform CleverTap acquires San Francisco-based Leanplum

Press Release   Entrackr  

Mumbai-based customer retention platform CleverTap is to acquire San Francisco-based Leanplum in a stock-and-cash deal. The transaction is expected to close in the second quarter of 2022. Founded in 2012, Leanplum is a customer engagement company that helps brands personalise and optimise all customer touchpoints online. CleverTap's current annualised revenue run-rate (ARR) is nearing USD 100 million. Started in 2013 by Sunil Thomas, Anand Jain and Suresh Kondamudi, it has around 450 employees across 11 countries, with a product and engineering hub in Mumbai. In October 2019, CleverTap raised USD 35 million led by existing investors Tiger Global Management and Sequoia Capital India, after which it was valued at USD 385 million.