Mumbai: User engagement and retention cloud CleverTap has expanded its core leadership with the appointment of Sidharth Malik as global CEO. The announcement comes as CleverTap accelerates its international growth and builds new capabilities to help digital consumer brands increase its customer retention and foster lifetime value.
Malik comes with a track record of building and leading dynamic organisations in competitive markets. Formerly the chief revenue officer at Freshworks, a SaaS provider of customer experience solutions, he was instrumental in scaling its business from a single product to a multi-product platform with a global footprint.
Malik’s appointment marks a new chapter in CleverTap’s journey. Under the leadership of co-founder and founding CEO Sunil Thomas, the company has penetrated new markets and achieved $45 million in annual recurring revenue in less than six years of monetisation, with a 235 per cent compounded average growth rate.
"Sidharth’s passion, insights and leadership skills, coupled with his experience in helping take a world-class SaaS startup from India to the world, make him the right leader at the right time for CleverTap. His appointment significantly strengthens CleverTap’s core foundation and leadership team, preparing the company to scale globally and chart to an IPO,” said Thomas.
To further realise the company’s strategic vision, Thomas will assume the role of executive chairman and focus on scaling innovation and strategic direction for CleverTap, while Malik will help provide leadership for organisation-building and day-to-day business execution, said the statement.
CleverTap chief growth officer Vikrant Chowdhary stated, “It’s so heartening to have Sidharth come on board as CEO to partner with me as we scale the business for faster growth, while Sunil focuses on innovation and strategic initiatives with a founder’s mindset. We are extremely confident in our ability to execute our growth charter and expand global leadership in our category.”
Uniquely positioning itself as a full-stack retention cloud, CleverTap has introduced an entirely new product category and expanded its capabilities. Earlier this month, the company further cemented its position with the acquisition of Patch, a technology designed to provide seamless, contextual and secure communications between companies and consumers.
