CleverTap Success Story: How does this mobile marketing company helps brands engage with their users

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CleverTap Success Story

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 in 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 to know 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 revenue growth.

CleverTap - Company Highlights

Headquarters-California, USA
Sector-Technology, Information, and Internet
Founder-Sunil Thomas, Suresh Kondamudi, and Anand Jain
Founded -2013
Valuation-$775 million
Revenue-$18.4 million (2022)
Total Funding Raised-$181.6 million
Website-clevertap.com

CleverTap - About and How it works?

CleverTap is basically 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 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 details

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 industry.

As per reports, the tech industry makes up 35% of the total world market and the approximate value of this particular industry is worth around $1.6 trillion.

CleverTap - Founders

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

Sunil Thomas is the co-founder of CleverTap, who also served as the CEO of the company for 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 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 leadership roles at ngpay and Network18, where he was the Chief Architect in charge of developing the infrastructure for complicated operations. 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.

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 -
Amazon S3, Amazon EventBridge, Segment, and Google Cloud
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 "packs."

CleverTap - Growth

As of today, CleverTap powers around 10,000 apps of many top brands across 100 countries. 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 employs between 501-1,000 people in 100+ countries with offices present in major cities like - Sunnyvale, San Francisco, Singapore, New York, London, Mumbai, and Bengaluru.

CleverTap - Funding, and Investors

CleverTap has received $181.6 million in investment over six rounds. On August 9, 2022, they received a Series D round of investment. CleverTap is backed by eight investors. The most recent investors are Caisse de Depot et Placement du Quebec and IIFL Asset Management.

CleverTap - Mergers, and Acquisition

CleverTap has acquired two businesses as of now. On May 19, 2022, they made their most recent purchase, 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.

The patch is a one-of-a-kind solution that allows organizations to brand and incorporate communication channels such as in-app voice, chat, and push.

CleverTap - Awards and Achievements

Some of the awards won by CleverTap are:

CleverTap was recognized as a Leader in G2’s Summer 2022 Report for Mobile Marketing
CleverTap received the Great Place To Work Award for India's Great Mid-Size Workplaces in 2022
CleverTap was named a Leader in G2’s Spring 2022 Report for Mobile Marketing and Multiple Other Categories
CleverTap 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

To keep up with the fierce competition, CleverTap has recently launched TesseractDB(TM), which helps translate huge volumes of first-party user data in a secure, accessible, and cost-effective manner to provide real-time user customization. The company further plans to revolutionize the customer retention space in the upcoming months.