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CleverTap has acquired rehook.ai in an undisclosed deal
The acquisition will help the the customer engagement platform to offer various offerings in a unified platform
The startup is also in the midst of relocating its base to India eying public listing
Amid plans to shift its domicile to India, customer engagement platform Clevertap
has acquired promotion automation solutions platform rehook.ai.
However, the startup did not disclose the financial terms of the deal.
With this deal, CleverTap looks to provide a complete suite of offerings to its clients for customer retention, merging analytics, engagement and promotions in a single unified platform.
“The acquisition allows us to unlock multiple use cases across industries like gaming, retail, and financial services. It not only strengthens our ability to support businesses in crafting deeply personalised, AI-driven experiences but also opens up new opportunities for cross-selling and upselling integrated promotions management,” said Anand Jain, cofounder and chief product officer at CleverTap.
Founded in 2021 by Akhil Suhag, Mukul Anand, Tushar Dhara and Akshay Suhag, rehook.ai helps marketers and businesses to run referral, loyalty, discount and other incentive programmes with the help of its tech stack.
The Bengaluru-based startup also allows its users to personalise customer engagement campaigns according to demographics and geographies of their target audience.
The startup was part of the Y Combinator’s startup accelerator programme.
CleverTap was founded in 2013 by Jain, Sunil Thomas, Suresh Kondamudi and Sidharth Pisharoti which provides customer engagement solutions helping its clients to make informed and data-backed decisions.
It also offers an AI-driven product, Clever.ai which uses its predictive AI capabilities to further help users to understand their customers and provide deeper insights with real-time actionable recommendations.
It claims to serve more than 2,000 brands including the likes of Decathlon, Domino’s, Levis, Jio, Emirates and others.
The startup counts Peak XV, Accel, Tiger Global and others as its investors. It last raised $105 Mn in Series D funding round led by CDPQ back in 2022 at valuation of $775 Mn. In the same year, the startup acquired San Francisco-based multi-channel customer engagement platform Leanplum for an undisclosed amount. The current development will mark its third acquisition.
The startup is currently in the midst of shifting its domicile to India in a bid to get listed on the Indian stock exchanges, Jain told Inc42 in an interaction.
The Tiger Global-backed startup competes with the likes of MoEngage, WebEngage and giants like Salesforce to tap the country’s overall customer relationship management market poised to become $ 5.6 Bn opportunity by 2033.
