CleverTap, the global customer engagement platform, has announced that Sidharth Malik has resigned as CEO, and co-founder Sunil Thomas will take over the position once again.

Confirming the development to Entrackr, a company spokesperson stated, “Sidharth Malik stepped down in July 2024 due to personal reasons. We are grateful for his contributions over the past three years and wish him success in his future endeavors. Sunil Thomas, CleverTap’s co-founder and executive chairman, has taken over as CEO”.

Malik was appointed as the global CEO of CleverTap in 2021. Previously, he served as Chief Revenue Officer at Freshworks until October 2023, before assuming the position of chairman of Freshworks India. In the next phase of his career, Malik joined Westbridge Capital as a SaaS advisor board member. He also continues to serve as a non-executive director on the board of Zacco India.

In August 2022, CleverTap raised $105 million in a Series D financing round led by CDPQ. The company is anticipated to reach unicorn status in its next round, as it was valued at approximately $775 million during the Series D round.

Data from TheKredible reveals that more than 30 Indian startups appointed or promoted new chief executive officers (CEOs) in the first 10 months of 2024. With this recent appointment, CleverTap joins a list of companies, including Cleartrip, Zoomcar, Acko Life, DealShare, MyGate, Inshorts, and Cult.fit, Third Wave Coffee, Freshworks, PhonePe International Business, Ola Financial Services, BharatPe, iD Fresh, and Setu, all of which have appointed new CEOs this year.