CleverTap has customers in over 100 countries; its focus regions are the Americas, Southeast Asia and EMEA (Europe, Middle East or West Asia and Africa).
CleverTap has offices in both the Americas, Southeast Asia (a second HQ in Singapore, and teams in Indonesia, Thailand and Vietnam), Europe (London, the Netherlands and Spain), and India (Mumbai).
Clevertap claims a year-over-year revenue growth of 250 per cent. The app reportedly processes around 26 million push notifications in a minute.
“We help brands predict user churn, improve user attention and customer lifetime value, and communicate with them to improve engagement across different channels,” said Jain.
Customers subscribe to annual contracts usually and integrate the Saas platform into their app for a combination of tools and services called “packs”.
The company claims to have 8,000-plus brands in its kitty. In terms of differentiation from what global providers like Google analytics, Facebook and Adobe provide, Jain said the product is a full-stack system that both marketing and product teams can use at the same time. It also provides a real-time dashboard for app developers, which tracks data such as the number of installs and uninstalls, and user data such as the time spent on the application.
Currently, Clevertap employs around 170 people, with over 125 of them based out of India. The firm manages marketing and customer frontend from its California headquarter, and engineering is split between India and the US.
Challenges and way forward
“The biggest challenge is usually in explaining the customer retention solutions and implementing them for clients,” said Jain. The phone, he said, will continue to be the centre of information exchange and engagement, and Clevertap sees itself building the real-time analysis for customers in a meaningful way.
The company is profitable in some geographies and is investing across new geographies at present, besides engineering and product. “Five years from now I see Clevertap as a global company serving a wide range of customers from digital natives to those in the transformative phase like banks, retailer, telcos and sharing-based apps,” he said.
Expert Take: Data regulation will throw a challenge
The solution provided by CleverTap is definitely a key market need for businesses which has an app as a critical consumer interface.
A key challenge for such platforms will be the increasing data regulation on the usage of first-party data, which will limit businesses from utilising and sharing data with external platforms. Another potential challenge could be ensuring that consumers opt-in, as they are increasingly opting out of app notifications.
Finally, as with any tech innovation, competition will not be far behind and such platforms will need to invest in building competitive barriers.