Anand Jain had the idea that consumer data will soon become king and that brands would need to combine all consumer touch points in order to better serve their customers when he left Network18 in 2013 to found CleverTap, a SaaS-based mobile analytics startup with headquarters in California.
According to a Gartner estimate, the Software as a Service (SaaS) market segment is expected to reach $482 billion in 2022 and has been the largest and fastest-growing market category since 2019. CleverTap, the nine-year-old start-up, now has annual recurring revenue of $90 million by end of 2022 and offices in the US, the UAE, Singapore and India.
Jain provided extensive insight into the company’s mission and the tactics that have kept it at the top of the market since its start.
What caused CleverTap to begin?
I started the business Burrp in 2006 after spending seven years in the US. It was before Zomato. Burrp developed into one of the earliest food technology platforms in India with ratings and suggestions for restaurants. In 2009, Network18’s Infomedia18, a division, purchased it. I first met my future co-founders Sunil Thomas and Suresh Kondamudi at Network18 around this time. We talked a lot about digital marketing, its shortcomings, and how millions of consumers used to receive offers from different brands even when they didn’t need such things.
How are companies using CleverTap’s products to keep customers?
By streamlining their business processes, providing personalised content, and engaging users in real time, the company serves approximately 10,000 businesses, including Sony, Zee5, Cleartrip, and Vodafone.
Our patent-pending technology aids companies in optimising their marketing initiatives by providing behavioural insights and predictive segmentation. Users receive an omnichannel brand experience from it.
User retention is the focus of CleverTap. When users download the apps, they frequently become irritated if pointless inputs are requested. Many people stop downloading in the middle or subsequently remove the programme.
Although Google just postponed their cookie deprecation plan until 2024, the discussion about data privacy has heated up in India. What impact will these changes have on SaaS providers and the world of online advertising?
We have always upheld the right to privacy. To improve client experiences, the data is used. Cookies are not used here. Since its inception, CleverTap has prioritised privacy and adhered with all applicable regulations wherever it conducts business.
Ad-supported business models, in my opinion, won’t endure. For survival, streaming and news services will need to adopt a subscription business model.