Customer management and marketing analytics company Clutch has bought Persio in a deal designed to add new mobile marketing capabilities to its platform. Clutch plans to make the new mobile functionality available to its clients in Q1 2017. Terms of the transaction, which closed in December, were not disclosed.
“With this acquisition, the Clutch platform is the first to support the marketer with a comprehensive view of customers across all buying and marketing channels,” said Ned Moore, Clutch CEO in a statement. “The addition of Persio’s intelligent mobile platform will allow us to deliver these experiences instantly and with greater context.”
In addition to the acquisition, Clutch has secured a $5.25 million funding round and added Larry Stone to its board of directors. Stone is a veteran of the payments processing industry with more than 27 years of experience, including acting as a principal at Mercury Payment Systems, where he successfully shepherded the firm to its 2014 sale to Vantiv.
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Moore will remain Clutch’s CEO; Nick Doulas, co-founder of Persio, will stay on as Head of Product. The combined company will retain the Clutch name and employ a total of 75 people.
