Latest news with #CleverTap
Time of India
23-07-2025
- Business
- Time of India
From First Click to Forever: How AI is Redefining Personalized Marketing
Marketers today are under constant pressure to not just reach their audiences but to create relationships that last. With consumer expectations evolving rapidly, the role of artificial intelligence in marketing has become more pivotal than ever. ETBrandEquity, in association with CleverTap , convened a dialogue under The Big Leap Collective, exploring how AI can help brands deliver seamless, personalized experiences from the first click to enduring loyalty. The day began with a keynote by Shivani Tiwari, Head of Growth and Digital Marketing, Ajio, who spotlighted the non-negotiable value of brand consistency . 'We are extremely rigid about brand consistency. What we show off-app must match exactly what the customer experiences on-app,' she stated, underscoring how consistency across all digital touchpoints fosters trust. Tiwari explained how this principle extends to every campaign component, from creative messaging to color palettes, across push notifications, WhatsApp, SMS, and RCS. 'If I'm calling the customer with a tennis-themed push during Wimbledon, they shouldn't land in a cricket stadium. Only then can we truly earn their trust and build a seamless brand journey,' she added, framing consistency as the foundation of credibility. The session transitioned into a panel discussion 'From First Click to Forever: The AI Advantage for Marketers.' The panel featured industry leaders including Deepak Lamba, Head of Marketing, CleverTap; Nitin Khanna, VP Marketing, Acko; Anand Thakur, Chief Product & Technology Officer, Reliance Retail; Jhoomer Sinha, AI Lead, CleverTap; and Rasika Prasant, Chief Marketing Officer, Tata Soulfull. Lamba emphasized that personalization is now a consumer expectation, not a differentiator. 'Imagine a customer walking into a store. He instantly gets recognized and enjoys a tailored experience. Online, without the right technology, that same customer sees generic, irrelevant content. That disconnect is what CleverTap aims to solve,' he said. He traced the evolution of personalization from 2015, when it was restricted to demographics and geography, to today's AI-driven precision. 'Our IntelliNode technology understands user behavior, context, and preferences across multiple channels, deciding what message to send, when, how, and where. That's the true AI advantage for marketers,' Lamba concluded, highlighting how millions of unique journeys can now be crafted for individual customers. Khanna underscored that brands must first assess their readiness before entrusting AI with strategic decisions. 'The magic of AI is only as good as the magician. The maturity of your people, your data, and your organization determines how effectively AI can work,' he noted. Drawing from Acko's experience, he stressed the value of owning complete customer data, free from intermediaries, to unlock AI's full potential. Thakur elaborated on how Reliance Retail adapts journeys based on customer signals. 'When we classify someone as a 'value customer,' we first show them products within a certain range but strategically introduce premium options. If they engage, we adjust their experience accordingly,' he said. Beyond traditional data, he emphasized the importance of geospatial and socioeconomic insights to refine personalization further. 'You can never say 'I know exactly who this customer is' because customers themselves keep changing,' Thakur added. 'Continuous experimentation and refinement are essential to delivering truly personalized experiences that resonate over time.' Sinha addressed the limitations of many AI-powered interactions. 'Many AI chatbots feel generic because they're trained on limited, low-quality data, leading to poor experiences,' she observed. At CleverTap, years of high-quality, real-world data collection have enabled their AI to 'learn and evolve like a well-nurtured one-year-old,' ensuring smarter and more meaningful interactions over time. Prasant reminded brands that staying relevant starts with meeting consumers where they are, especially in fast-digitizing spaces like offline categories. 'At Soulfull, every team member observes customer habits, app usage, and shopping behavior to identify audience cohorts. Using AI-driven personalization , we then target these segments across OTT, YouTube, and Instagram,' she explained, noting how this approach builds awareness and cultivates advocacy. The discussion concluded with the insight that data is the foundation for guiding customers from first click to lifelong engagement. By leveraging AI to interpret and act on this data, brands can deliver experiences that are not just personalized but truly memorable, ensuring relationships endure well beyond the initial interaction.
Mint
21-07-2025
- Business
- Mint
CleverTap's Leanplum buyout triggers layoffs, top deck exits three years on
Nearly three years after acquiring US-based Leanplum to power its global expansion, Peak XV Partners-backed software company CleverTap is grappling with integration challenges that have triggered top-level exits, layoffs, and liquidation of the acquired entity, multiple people told Mint. CleverTap confirmed the layoffs, executive exits, and Leanplum's liquidation, but maintained that the restructuring had largely impacted the acquired entity. 'As part of our long-term growth strategy and consolidation efforts, we are liquidating our Bulgaria-based Leanplum entity. This means parting ways with all Sofia (Bulgaria) employees through a fair, legal, and respectful process," a CleverTap spokesperson said in response to Mint's queries. 'These consolidation efforts have no impact on our customers, and they do not affect our employees in any other region." Nearly Leanplum's entire Sofia-based engineering team, a key offshore cost center, was let go. 'There were about 100 Leanplum employees when they joined; 60-70 are gone now," said a person familiar with the matter. 'And another 40-50 people from CleverTap India were laid off too." 'Employees were told everything was stable just days before," said a second person. 'Then the entire team was shut out, citing a 'bad marriage'." Big bet gone sideways CleverTap, a customer engagement software provider, has raised over $182 million so far and was last valued at around $800 million in 2022, when it raised $105 million in Series D funding from CDPQ, IIFL Finance, Peak XV, and others. The company was founded in San Francisco, California by Sunil Thomas, Suresh Kondamudi, and Anand Jain in 2013. In 2022, CleverTap acquired San Francisco-based Leanplum in May 2022 aiming to scale globally with a presence across North America, Europe, Latin America, India, Southeast Asia, and West Asia. But the integration of Leanplum with CleverTap was rocky from the start, said the people mentioned earlier. Product overlaps weren't resolved, sales funnel performance lagged, and Leanplum's existing client base turned out to be a disappointment, they said. 'The so-called existing clients were gone. I don't think anything came out of it," said the first person quoted above. CleverTap said many of Leanplum's customers have migratedto its systems. 'They are seeing strong results. We'll work closely with the remaining customers to complete their upgrade to CleverTap by year-end," CleverTap's spokesperson added. To be sure, recent rapid growth in artificial intelligence and reduced spending by clients has posed challenges for software-as-a-service (SaaS) companies. According to data from Venture Intelligence, while funding for Indian SaaS startups slightly improved to $1.8 billion in 2024 from $1.3 billion in the year prior, it was much lower than the $4.4 billion raised in 2022. Leadership churn and internal strain The Leanplum integration troubles apart, at least four senior executives have exited CleverTap in the past 3-4 months, multiple people said. Leanplum co-founder Momchil Kyurkchiev, who was named CleverTap's chief strategy officer following the acquisition; chief revenue officer Sidharth Pisharoti; chief operating officer and chief customer officer Abhishek Gupta; and vice president of finance and legal Sourabh Arora, among others, have called it quits, according to these people. 'They had hired expensive resources, and business growth couldn't keep up with the kind of salaries and seniority they brought in. The top deck is almost empty. People have either left or are mulling exits," said a third person aware of the development. CleverTap said it has since filled all key leadership roles. 'Leadership transitions, across levels and functions, are a natural part of any high-growth business. All other senior leadership roles have been filled, ensuring seamless continuity in leadership and execution," said the spokesperson. Ranjeet Walunj, who joined CleverTap in 2019 and previously served as senior vice president, was elevated to chief customer officer in April, according to the company's website. Earlier in November, CleverTap's global chief executive Sidharth Malik stepped down citing personal reasons, with cofounder Sunil Thomas returning as CEO. CleverTap's revenue growth has slowed sharply since the Leanplum acquisition—in 2023-24, its revenue rose 6.3% to ₹430.55 crore after growing at 46.3% in FY23. Profit slumped to ₹30.41 crore in FY24 and ₹30.45 crore in FY23 from ₹52.22 crore in FY22. CleverTap is yet to report its financials for FY25.
Time of India
23-06-2025
- Business
- Time of India
From Intrusive to Intuitive: How AI is redefining customer engagement
Customer engagement is entering a new era, defined by experiences that are interactive, immersive, and inconspicuous. Brands must discover meaningful ways to connect with customers while ensuring those customers don't feel as though they are being overtly marketed to. in association with CleverTap , recently concluded 'The Big Leap Collective' in Chennai, addressing the theme of crafting immersive, interactive and inconspicuous customer engagement. The session was joined by Venkat Yellapantula, CDO, Indian Bank; Arjun Shetty, COO, BankBazaar; Balaji Selvakumar, CMO, GRT Jewellers; Arjun Bhatia, CMO, Gaurang Thosani, Head of Digital Marketing and E-sales, Royal Sundaram General Insurance; and Jacob Joseph, VP - Data Science, CleverTap. The session was moderated by Gautam Srinivasan, Consulting Editor. AI is propelling a fundamental shift in traditional development cycles. According to Shetty, it's moving organisations away from lengthy, resource-intensive build phases towards what he described as 'prototyping-as-a-service.' This new approach enables teams to quickly create functional mockups and validate ideas in real time, without writing code or investing in full-scale development. The result is faster iteration, reduced costs, and a more agile response to market demands. 'AI is no longer just a buzzword but a practical enabler of agility,' said Shetty. 'At BankBazaar, product teams are building visual, functional mockups without writing a single line of code, cutting development timelines by up to 80%.' Shetty added, 'We're running AI-generated A/B tests instead of spending lakhs on production. If it works, we scale. In a fast-paced environment, this ability to test before you build and scale what resonates is redefining how marketing teams operate, more nimble and more data-led.' Customer expectations remain the same whether they visit a website, use an app, or walk into a showroom. They look for warmth in interactions, clear communication, and a sense of personalised attention, regardless of the channel. To meet these expectations, brands must ensure seamless and consistent experiences across all physical and digital touchpoints, aligning tone, service quality, and engagement strategies throughout the journey. 'Bridging the gap between physical and digital experiences is easier said than done. Legacy systems and siloed platforms still make it challenging to deliver consistency across every touchpoint. The real strategic dilemma is knowing where to invest more, how do you strike the right balance between a strong offline presence and the growing online opportunity?', remarked Bhatia. Marketers have moved beyond bombarding customers with constant notifications and emails. The focus has shifted to creating seamless, intuitive experiences that guide users effortlessly, without drawing attention to the fact that they're being marketed to. 'One of my favourite examples is a customer buying a water heater via 15-minute delivery on Zepto, a product you'd never expect to be an impulse purchase. It wasn't just about speed; it was about meeting intent so precisely that the transaction felt like second nature,' stated Thosani. Just because a customer shops online doesn't mean they don't need reassurance or support. As consumer behaviour evolves, it's essential for brands to deliver a consistent and seamless experience across all channels. Whether online or offline, the experience should feel cohesive, dependable, and designed to build trust at every touchpoint. 'For fashion and beauty brands, where trust and conversion have traditionally relied on tactile experiences, the big challenge is translating touch-and-feel into digital,' noted Selvakumar. One of the most persistent challenges discussed was fragmented data. Many organisations possess vast amounts of valuable information, but it remains trapped in disconnected systems and siloed teams. This often leads to duplicated efforts, disjointed insights, and ultimately, missed opportunities and inconsistent strategies. 'The future lies in integrating structured and unstructured data, from transactions to CRM logs, and even external factors like news events or election outcomes, into unified, actionable intelligence. Engagement should be driven in real time, not analysed after the fact,' shared Joseph. Intelligent engagement is rapidly becoming the norm across industries. 'We reimagined lending through our GST-based working capital product. By analysing a customer's turnover, we offer loans of up to 25% of that value instantly. No forms. No branches. Salary analytics now allow us to extend pre-approved personal loans without any application process. It's not just about being digital; it's about being intelligently personalised, fast, and frictionless,' observed Yellapantula. The future of customer engagement will be shaped less by what brands say and more by how well they understand customer intent. The focus is shifting towards intelligent personalisation, reducing duplication of messaging across channels, and creating a more cohesive and seamless customer journeys.
Time of India
20-06-2025
- Business
- Time of India
Why Martech Is Now at the Heart of Customer Experience in BFSI?
The finance sector has traditionally operated with siloed systems, legacy processes and fragmented data, making it difficult to understand or respond to individual customer needs in real time. Personalisation was limited and experiences often felt transactional. Martech is now reshaping this landscape, enabling financial institutions to harness data, unify touchpoints and deliver tailored, meaningful interactions that build trust, improve retention and increase lifetime value. The Big Leap Martech Social, hosted by ETBrandEquity and CleverTap, brought together India's leading marketers for an exclusive conference on 8 May 2025 in Bengaluru. Speakers included Anchit Chandra, vice president and head of digital marketing and CRM, Muthoot FinCorp ONE, and Animesh Das, CEO, Acko General Insurance. The session was moderated by Subharun Mukharjee, vice president, CleverTap, and Krystyna Devina Lason, senior anchor and producer, The Economic Times. The discussions focused on how martech enables financial brands to go beyond transactions and build relationships through data-driven insights and contextual relevance. Chandra spoke about the challenge of serving a diverse customer base—ranging from grassroots individuals to ultra-high-net-worth clients. Each transaction is unique, whether it involves pledging different quantities of gold jewellery or applying for loans of varying sizes. He said this diversity is also what unlocks long-term value. 'With over 3,800 branches, each providing daily insights from walk-ins, we capture data from conversations, personalise offers and use localisation to reach different segments. Our martech stack helps us process that data and enrich it with secondary sources, allowing us to serve customers whose needs we may not directly capture,' he said. This strategy allows Muthoot FinCorp ONE to personalise interactions based on each customer's financial context. Whether it's assessing fluctuating loan eligibility or segmenting service delivery, the company aims to offer relevant and differentiated solutions. 'We're building a martech stack that delivers tailored offers daily, driving loyalty and improving retention,' said Chandra. Das recalled the early days of Acko and the limitations of traditional insurance. He said insurance had remained unchanged for decades, sold by agents door-to-door, based on paper-heavy, standardised products. The system lacked innovation and personalisation. Acko wanted to change that completely. 'Tech is usually seen as a way to gain efficiency. It shouldn't be. It should be the foundation of how you build the product, experience and distribution. This isn't about incremental changes, it's about rethinking the entire model.' Das said understanding the core consumer is more important than pushing broad campaigns. Precise targeting, he added, can cut marketing costs by a third. 'We ask: is the user already on the platform? Which channels do they use? Tools today allow us to reach users with accuracy and context.' He cited an example: 'If a customer has recharged a FASTag, I know they're likely travelling. I won't send a generic 'buy insurance' message. I'll say 'Hope you're travelling, see how our insurance can help.' That kind of sharp messaging only works when tech is central. It's not about scale, it's about reaching the right user smartly and efficiently.' Muthoot FinCorp ONE and Acko reflect how martech is reshaping financial services. From real-time data integration and targeted offers to smarter product development and communication, technology is now central to modern customer engagement.
Associated Press
18-06-2025
- Business
- Associated Press
CleverTap Launches "Promos' - The Industry-First All-In-One Rewards Management Platform
With Promos, CleverTap redefines How Brands Engage and Retain Customers by Making Rewards, Promotions, and Loyalty an Integral Part of Its All-In-One Engagement Platform SAN FRANCISCO, CA and MUMBAI - June 18, 2025 ( NEWMEDIAWIRE ) - CleverTap, the all-in-one customer engagement platform, today announced the launch of Promos - an industry-first, customer rewards management platform built to redefine how brands create, manage, distribute, and optimize rewards, promotions and loyalty programs. Powered by technology from (now part of CleverTap), Promos offers a comprehensive, API-first solution for managing every facet of customer incentives - from coupons and loyalty points to cashback, vouchers, and gamified rewards. By replacing a system of fragmented tools, Promos empowers marketers with a seamless, scalable, and deeply integrated alternative for driving retention, repeat purchases, and maximizing customer lifetime value. Marketers today are often forced to rely on fragmented systems - piecing together rewards and loyalty programs, CDPs, messaging platforms, and analytics - just to deliver a single, end-to-end campaign. These disconnected workflows slow teams down, lead to inconsistent data, and cause marketers to miss critical moments for engagement, resulting in delayed rewards, irrelevant offers, and loyalty programs that fail to deliver. Promos changes that. It embeds rewards management directly into CleverTap's engagement engine, giving brands a single platform to segment users, automate campaigns, personalize, deliver real-time incentives, and measure effectiveness effortlessly. With Promos, marketers can now launch behavior-triggered rewards in minutes, optimize campaigns on the fly, and deliver offers that feel timely, relevant, and personalized - ultimately improving ROI and deepening brand-consumer relationships. Anand Jain, Co-founder and Chief Product Officer, CleverTap, said, 'CleverTap Promos rewrites the rewards management playbook. Rather than tallying one-off redemptions, we're forging lasting customer relationships, making every point, perk, and offer a personalized, memorable moment rooted in trust and authenticity. By uniting reward programs, engagement, and intelligence on a single platform, Promos truly propels our mission to becoming industry's first end-to-end retention platform for modern marketers.' Akhil Suhag, Co-founder and CEO, added, 'Rewards and loyalty management shouldn't force marketers to navigate a maze of siloed systems. Promos lets brands oversee loyalty, incentives, and engagement from one unified hub. This speeds up execution, clearing operational clutter and turning customer retention into a compounding engine for sustainable growth. I'm excited for marketers to experience its power and convenience firsthand.' Learn more or request a live demo here. About CleverTap CleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Decathlon, Domino's, Levis, Jio, Emirates NBD, Puma, Croma (A Tata Enterprise), Swiggy, SonyLIV, Axis Bank, AirAsia, TD Bank, Ooredoo, and Tesco to help build personalized experiences for all their customers. The platform is powered by TesseractDB(TM) – the world's first purpose-built database for customer engagement, offering speed and cost efficiency at scale. Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Vietnam, and Jakarta. For more information, visit or follow us on: LinkedIn: X: Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release. Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction. For more information: ADITYA SANYAL Director, Digital Marketing, CleverTap +91 9177110080 [email protected] ASHMIT CHAUDHARY Associate Consultant, Archetype +91 8850752121 [email protected]
