CleverTap, the mobile marketing group, just acquired Leanplum to bolster its retention offering.
The multi-channel customer engagement platform optimises consumer touch points for app-first companies.
The move will benefit clients by increasing the number of users, ARPU and LTV.
It also means they get a single source dashboard for real-time campaign control and a more unified product to act on first-party data. Testing, experimentation and optimisation across multiple channels will be made possible in this way.
In a blog post, the company pointed to digital opportunities having grown rapidly in light of the pandemic and closing stores.
“To survive and thrive, companies must design multiple journeys and approaches that treat users like individuals. They must infuse humanity, empathy and relevancy into marketing and messaging. This acquisition accelerates everything and puts the combined entity on a much faster path of innovation towards solving for these needs.”
The acquisition will serve 1,200 clients in 100 countries and over 600 employees across 12 countries.
Leanplum plans to become a $100 million ARR company by the end of the year and a profitable $500 million business before 2025.