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CleverTap Acquires Patch, Powering In-App Calling for Mobile-First Brands and Businesses to Drive Trusted Engagement and Grow Revenues
Thursday, November 18, 2021
The move will enhance businesses' ability to fulfill their brand promise through better communication with customers
MOUNTAIN VIEW, Calif. and MUMBAI, India, Nov. 10, 2021 /PRNewswire/ -- CleverTap, the world's leading user engagement and retention cloud, has completed the acquisition of Patch, a unique technology that enables businesses to brand and embed communication channels -- including in-app voice, chat, and push notifications -- directly into consumer apps. The terms of the deal have not been disclosed.
Patch is designed to provide seamless, contextual, and secure communications between companies and consumers. More importantly, its in-app calling makes two-way communication privacy-compliant, as there is no need to disclose caller or receiver telephone numbers or personal data.
According to Vikrant Chowdhary, the recently appointed and first-ever Chief Growth Officer of CleverTap, the acquisition is the first in CleverTap's eight-year history and marks an important milestone in the ongoing innovation journey of CleverTap expanding its capabilities. The new capability will elevate the end-customer experience and empower brands and businesses globally to communicate with millions of their customers seamlessly. For CleverTap, Chowdhary explains, "the Patch acquisition is strategic and significant because it positions CleverTap as the first and only marketing and retention platform to offer in-app telephony capabilities."
Currently, all companies that offer apps -- from retail to fintech and from ride-hailing to meal ordering -- are forced to use unverified phone numbers to communicate with their customers and update them on urgent information such as delivery status or recent credit card charges. Predictably, these phone calls, which are delivered outside of the app experience, neither carry transactional context nor recognizable phone numbers or caller ID, and often fuel customer anxiety and mistrust. Often dismissed as spam by consumers, the calls regularly go unanswered.
The outcome is a poor customer experience for the consumer and a loss of revenue for brands and businesses that are unable to connect with consumers at critical stages in the customer journey. "For consumers, knowing who is calling and understanding the context from within the app increases trust and drives digital interactions and transactions," says CleverTap's Chowdhary. "As customers engage more frequently or deeply, brands and businesses also benefit because they reduce friction and increase the opportunities to generate revenues."
It's also the first time these capabilities are being offered to mobile-first brands and businesses across the globe. "Having in-app voice capabilities as a part of the CleverTap Retention Cloud is a game changer for digital brands. It enables a trusted, two-way conversation between companies and their customers with context, security, and speedy resolution or assistance," says Anand Jain, CleverTap's Co-founder and Chief Product Officer.
This, he continues, is a new and critical addition to the engagement toolkit of email, push notifications, SMS, and WhatsApp that growth marketers and businesses must harness to improve communications and drive results. "It's all about evolving the in-app experience to increase customer satisfaction, reduce friction, and ultimately help our customers grow customer retention and LTV." Jain comments on the acquisition and the benefits to stakeholders, including consumers, in his latest blog on the CleverTap website.
"It is imperative to keep in constant touch with our customers to understand their feedback and provide them with prompt, personalized health and wellness services," says Sachin Shenoy, Co-Founder at HealthifyMe, a digital health and wellness platform. "We are excited about CleverTap's acquisition of Patch. This first-in-class in-app VOIP services technology will help streamline conversations with our customers to enable higher engagement value and customer trust."
About CleverTap:
CleverTap is a modern, integrated, retention cloud that empowers digital consumer brands to increase customer retention and lifetime value. For brands that understand and value user retention, CleverTap drives context and individualization with the help of a unified and deep data layer, AI/ML powered insights & automation. Customers around the world representing over 10,000 apps, including Vodafone Idea, SonyLIV, Daimler, Gojek, Carousell, and Premier League, trust CleverTap to achieve their retention and engagement goals, growing their long term revenue. Backed by leading venture capital firms including Sequoia India, Tiger Global Management, and Accel, the company is headquartered in Mountain View, California, with offices in Mumbai, Singapore, and Dubai. For more information, visit clevertap.com or follow us on LinkedIn and Twitter.
View original content to download multimedia:https://www.prnewswire.com/news-releases/clevertap-acquires-patch-powering-in-app-calling-for-mobile-first-brands-and-businesses-to-drive-trusted-engagement-and-grow-revenues-301421370.html
SOURCE CleverTap
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