India-based cloud telephony company Knowlarity has announced it has acquired Delhi-based customer engagement platform Smartwards, which help businesses manage their customer loyalty programmes in-store and out-of-store, through an app.
The deal will allow Knowlarity to integrate Smartwards’s technology into its own enterprise product ecosystem, and will also see Co-founders of Smartwards Shantanu Mathur and Dhanraj Singh Bisht leading Knowlarity’s India operations.
Founded in 2013, Smartwards is located in over 150 locations, including restaurants, cafes, cinemas, salons and retail outlets. across eight cities in India.
“Our journey in building a strong B2B2C product has been quite fascinating. We realized early, that to make a successful product for the Indian customer, one has to solve the problem in-depth and at-scale. However, the SME is not an easy market to crack in India and thus we were looking to move to a larger platform. With Knowlarity, we get the freedom and agility of a startup in a well-established organization,” said Mathur in an official press statement.
Knowlarity, backed by Sequoia Capital and Mayfield, is a cloud communications enterprise provider founded in 2009. To date, it is used by 15,000 businesses across over 65 countries. Two years ago, it acquired another Delhi-based startup: cloud telephony platform Unicom Techlabs.
“We look forward to them [Smartwards] driving the core communication business in India and utilize their experience in developing more analytical tools. We will continue to use acquisitions as a natural extension of our strategy to further build capabilities and acquire top talent,” said Ambarish Gupta, CEO and Founder, Knowlarity