CleverTap: How does this mobile marketing company help brands engage with their users?

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To stay connected with your near and dear ones, the invention of mobile phones is one of the greatest inventions that has proved to be truly beneficial for all of us. Who would have thought that this handy electronic device, the mobile phone, would become an integral part of our lives?

Socialization among human beings is the basic feature that keeps them together. Thanks to mobile phones, which make socialization easier and more convenient,. However, mobile phones have evolved since their inception, and today they are not used for communication but for other purposes such as marketing, navigation, playing games, keeping notes, etc.

To help companies gain user engagement through their mobile apps, CleverTap brings the ultimate all-in-one platform to help with analytics, segmentation, and other marketing techniques to reach the targeted audience. CleverTap was founded in 2013 and, ever since, has powered more than 10,000 apps and is still counting.

Interested in knowing more about CleverTap? then read on further to learn about CleverTap's founders and team, how it works, its mission and vision, the business model, and more.

CleverTap - Company Highlights

CleverTap - About
CleverTap - Industry
CleverTap - Founders and Team
CleverTap - Startup Story
CleverTap - Mission and Vision
CleverTap - Name, Tagline, and Logo
CleverTap - Business Model
CleverTap - Revenue Model
CleverTap - Funding, and Investors
CleverTap - Mergers and Acquisition
CleverTap - Growth
CleverTap - Awards and Achievements
CleverTap - Competitors
CleverTap - Future Plans

CleverTap - About

CleverTap is a SaaS-based mobile marketing company founded by three colleagues who worked at Network 18—Sunil Thomas, Suresh Kondamudi, and Anand Jain—in Mumbai.

The company works by offering user engagement and mobile marketing solutions to digital brands in over 100 countries in sectors such as food tech, fintech, media and entertainment industries, travel and transport, and many e-commerce platforms.

CleverTap works with more than 10,000 brands that use its intelligent and smart mobile marketing solution platform to improve their audience engagement and other analytics. Its clients are Dunzo, Lenskart, Sony Liv, Tata Cliq, Gojek, Ixigo, Mxplayer, and many more.

CleverTap - Industry

There is no doubt that the IT industry is among the most crucial industries in the market today. Every company has this department that takes care of its crucial data and information. CleverTap belongs to the information and internet industries.

According to the business research company Information Technology Global Report, the global information technology (IT) market grew at a compound annual growth rate (CAGR) of 8.2%, from $8,179.48 billion in 2022 to $8,852.41 billion in 2023.

The likelihood of a global economic recovery from the COVID-19 pandemic was hampered, at least temporarily, by the Russia-Ukraine war. Due to the conflict between these two nations, numerous nations are subject to economic sanctions, commodity prices have skyrocketed, and supply chain disruptions have resulted in the inflation of goods and services, impacting numerous global markets.
At a compound annual growth rate of 7.9%, the information technology (IT) market is projected to reach $11,995.97 billion by 2027.

CleverTap - Founders and Team

Sunil Thomas, Suresh Kondamudi, and Anand Jain, the three coworkers who worked together at Network 18, are the founders of CleverTap.

Sunil Thomas

Sunil Thomas is the co-founder and executive chairman of CleverTap, who also served as the CEO of the company for around eight years. He had many C-suite jobs before starting CleverTap. Infospace, now known as Blucora, Infomedia18, Microsoft, CNBC, and Hewlett-Packard, are among Sunil's prior employers. His passion lies in playing badminton and cricket. In addition to this, he has participated in many tournaments in the San Francisco Bay Area and closely follows football and Formula 1.

Suresh Kondamudi

Suresh Kondamudi is one of the founders of the company, CleverTap. He is also the Chief Technology Officer, who is leading the entire engineering team at CleverTap. Suresh has previously worked at ngpay, Network18, and Qwest Software Services. His interests are mainly watching TV shows with his wife and playing sports.

Anand Jain

Anand Jain is the co-founder and Chief Product Officer at CleverTap. His main responsibility involves the platform’s strategic direction, including innovation, design, development, project management, and product marketing. Anand has more than 25 years of leadership experience, which includes leading as a CTO at Infomedia18, and Head of Engineering and IT at Network18 Media and Investments. He was also the co-founder of Burrp, India's first food tech company. Anand enjoys trekking when he has the opportunity. Along with this, he is a stamp collector.

According to LinkedIn, CleverTap employs 500–1,000 individuals.

CleverTap - Startup Story

Anand Jain, Sunil Thomas, and Suresh Kondamudi departed from Network18 in 2013 because they felt that speed was a necessity for digital communication. This conviction gave rise to Mountain View, California-based CleverTap, a SaaS-based mobile analytics startup.

In 1994, Anand started his career in technology as a co-founder of Compoint Computers while still in college. After passing the national-level CDAC exam, he set out on a coding journey despite having no prior experience with coding. During his six months in Delhi, Anand became an expert in Java, C, C++, and Cobalt. Equipped with exceptional coding skills, the three established CleverTap, demonstrating their tenacity and dedication to transforming digital correspondence.

CleverTap - Mission and Vision

The mission statement of CleverTap is, "To help brands build differentiated and personalized marketing strategies powered by advanced customer insights."

CleverTap - Name, Tagline, and Logo

The tagline of CleverTap goes about like this, "We're on a journey of epic proportions."

CleverTap - Business Model

The business model of CleverTap operates on a business-to-business model. Their B2B model involves providing mobile marketing solutions to brands to enhance their customer engagement and promote their brand awareness with features such as email automation, push notifications, SMS messaging services, WhatsApp marketing, personalized messages, and A/B testing.

CleverTap offers a robust set of marketing segmentation, and customer lifecycle management for industries in areas such as Food, Finance, Media and Entertainment, Travel and Transport, and E-commerce.

CleverTap main business is the different kinds of products it offers. These products are mainly focused on delivering its clients' an overall structure of the market and helping them derive predictions on business outcomes. Some of the products of CleverTap are Lifecycle optimization, security and compliance, behavioral analytics, pricing, and planning structure, market target segmentation, campaign optimization, and other solutions exclusively designed for startups.

CleverTap integrates with

Mobile platforms -

• iOS, Android, unity, flutter, react native, etc.

Email -

• Gmail, mandrill, amazon simple email services, postmark, and SendGrid

Other destinations -

• AWS Lambda, Amazon SNS, Amazon SQS, Redshift, Firehose and Amazon Kinesis streams.

E-commerce platforms -

• Magneto, Shopify, and WooCommerce

CleverTap - Revenue Model

With a B2B model, CleverTap offers a marketing platform for app developers to further upgrade its features and help many brands in marketing spread across a wide variety of marketing channels. CleverTap generates its source of revenue through annual contracts and incorporates the SaaS platform into its customer's app for a set of tools and services known as "plans."

CleverTap - Funding, and Investors

CleverTap has raised $181.6 million in investment over six rounds.

Below is the funding details:

CleverTap - Mergers and Acquisitions

CleverTap has acquired two businesses to date. On May 19, 2022, they made their most recent acquistion, Leanplum, which is also a mobile marketing platform that provides meaningful engagement through messaging and in-app interactions. The other one is Patch, which the company acquired on November 10, 2021.

With the use of Patch, a special kind of technology, companies may brand and integrate push, chat, and in-app voice channels.

CleverTap - Growth

CleverTap powers around 10,000 apps of many top brands across 100 countries as of 2022. Over the years, the company has gained significant experience in optimization that features assist growth teams in integrating massive amounts of data from online and offline channels into a single customer data platform for its clients.

All these years, CleverTap has made itself so sufficient that it is said to have a holistic solution approach. It helps in powering through a sophisticated segmentation engine, which aids in the creation of a fuller, more precise image of a customer based on targeted optimization across lifecycle stages.

The company's revenue in FY23 increased by 31% to Rs 34.6 million from Rs 26.4 million in FY22 as per insights from dealroom.co. incorporate communication channels such as in-app voice, chat, and push.

CleverTap - Awards and Achievements

Some of the awards won by CleverTap are:

• CleverTap has been named the leader in nine categories by G2's Fall 2023 reports.
• CleverTap was recognized as a Leader in G2’s Summer 2022 Report for ​​Mobile Marketing
• It has received the Great Place To Work Award for India's Great Mid-Size Workplaces in 2022
• Company was named a Leader in G2’s Spring 2022 Report for ​​Mobile Marketing and Multiple Other Categories
• It Wins AWS 2020 Technology Partner of the Year - 2020
• CleverTap’s platform was awarded a bronze Stevie Award for Business Technology/Best Marketing Solution - in 2019

CleverTap - Competitors

The top competitors of CleverTap are:

• Facebook Analytics for Apps
• Localytics Mobile Engagement Platform
• Adobe Analytics (Mobile App Analytics)
• MoEngage Customer Engagement Platform
• Mixpanel
• Amplitude Analytics Platform
• Adjust

CleverTap - Future Plans

The all-in-one engagement platform, signaled a calculated shift in emphasis to assisting companies in optimizing customer lifetime value (CLV). Understanding CLV's potential is essential as companies begin to prioritize long-term profitability and sustainable growth.

Anand Jain, co-founder, and chief product officer of Clevertap, said

10 years ago when we started building clevertap, our aim was to ensure the foundation of the platform is future-proof and agile enough to adapt. over the last few years consumer behavior and needs have evolved faster than the rate at which marketers can keep up with. the customer attention is divided today due to distractions by noisy marketing competing for marketing share. our all-in-one solution allows brands to focus on building deep relationships with their users by leveraging the power of hyper-personalization, which helps maximize CLV.

FAQs

Who is the CEO of CleverTap?

Sidharth Malik is the CEO of CleverTap.

What is the net worth of CleverTap?

CleverTap is valued at $775 million as of 2022.

What are alternatives to CleverTap?

MoEngage, WebEngage are some of the alternatives to CleverTap.

Is CleverTap free to use?

CleverTap is a pay-as-you-grow model that allows monthly payments without a yearly commitment and gives the freedom to select the add-ons.