CleverTap CEO Sidharth Malik Resigns

Customer engagement and retention startup CleverTap’s global chief executive officer (CEO) Sidharth Malik has stepped down from his role, following which the company’s cofounder Sunil Thomas has taken over the position.

“Sidharth Malik stepped down in July, 2024 due to personal reasons. We are grateful for his contributions over the last three years and wish him the best in his future endeavors. Sunil Thomas, CleverTap’s cofounder and executive chairman, has assumed the role of CEO,” the company said in a statement.

As per Malik’s LinkedIn profile, he has worked with the startup for nearly three years since November 2021 as CEO in Bengaluru. 

Prior to that, he led SaaS major Freshworks as its chief revenue officer for more than four years. He has an overall experience of about three decades working with various tech giants such as IBM, Microsoft, Salesforce and others.

Malik is currently serving as the SaaS advisory board member of investment firm WestBridge Capital.

“Since the founders have always been closely involved in the business, this transition has been seamless, and we remain committed to serving our customers and stakeholders with the same dedication as always,” the statement added.

Thomas, along with Anand Jain and Suresh Kondamudi founded Clevertap in 2013. The startup offers a comprehensive user engagement suite, and it is noted that the company serves some of the top enterprises in India and globally.

Earlier this year, CleverTap claims to have launched Clever.AI, an AI-driven edge for customer engagement and retention. 

It said that this new addition will enable brands to achieve 66% higher conversion rates and 35% boost in operational efficiency.

This comes weeks after it was reported that CleverTap is in discussions with advisers to relocate its headquarters from San Francisco to India.

Meanwhile, there have been multiple leadership changes across the Indian startup ecosystem in the past few months. 

For instance, online classifieds platform OLX India’s Amit Kumar resigned from his role as managing director and CEO after seven years, earlier this month.

Additionally, Tata-owned omnichannel jewellery startup CaratLane’s cofounder, managing director (MD) and CEO Avnish Anand stepped down after a nine-year stint at the company, in August.