Netcore Cloud 2022 Year in Review
Written by
Pradeep Thangaraju
Pradeep Thangaraju

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Netcore Cloud 2022 Year in Review

Published : January 31, 2023

2022 was a busy year for Netcore Cloud, filled with growth and innovation. To celebrate, we recapped on the biggest, most impactful updates from 2022.

600+ Brands Onboarded Globally

Over the past year, we have successfully onboarded a diverse range of customers from various industries across the globe. Prominent names among them include Air Asia, Disney, Truecaller, Royal Enfield, XL Axiata, Apollo Hospital, Asian Paints, and Ixigo. Furthermore, we have also joined forces with Direct-to-consumer e-commerce companies such as Hello Molly, Baskin Robbins, Fossil, Landers, First Cry, and Wakefit and financial institutions like Tata Mutual Fund, Upstox, Cashkaro, Aviva, RCBC, and South Indian Bank among others.

A $100 Million Investment

Since 2019, Netcore Cloud has made several key acquisitions to expand its reach in the digital marketing space. It acquired, a conversational AI platform, followed by, an AI-first omnichannel personalization and recommendation engine, and, a real-time no-code product experience platform. Through these acquisitions and strategic investments, Netcore Cloud established a strong advantage over its global competitors in providing a comprehensive platform for customer engagement and experience.

In 2022, Netcore Cloud further invested a significant sum, around $100 million, to acquire a majority stake in US-based Unbxd Inc. Unbxd is a well-known company in the field of intelligent search relevance and personalization. By using Unbxd’s technology, marketers can create more meaningful connections with consumers by delivering a personalized and memorable experience. This investment is expected to bring a significant revenue boost for our customers by increasing conversion rates and lifetime value, resulting in 5-8 times the return on marketing spend.

Global Expansion – EU, Latin America & Australia

In 2022, Netcore Cloud continued to expand its presence to new regions, focusing on the United States, Europe, Latin America, Australia, and New Zealand, recognizing their potential for growth.

To support this expansion, Toofan Shaterloo joined us as the  Chief Revenue Officer for the European market. With over 15 years of experience in SaaS, Toofan has held various positions at companies such as SmartFocus (Actito), Emarsys (SAP), Bronto (Oracle) and dEngage. As the former Global Chief Revenue Officer at dEngage, he played a crucial role in the company’s expansion into the European market. We were also joined by a new Senior Vice President of Sales and Business Development in North and South America – David Stewart, who comes with deep domain expertise in digital marketing, mobile marketing, data management, and machine learning. He has held several leadership roles at global organizations like Camera IQ, ZineOne, and Treeline Inc.,

Growing Our Family by 150+ Netcorians

As Netcore Cloud continues to grow rapidly and prepares for an IPO, one of the key priorities in 2022 was to increase the size of our team in various departments. We made strategic hires for our Customer Success Team, Product Team, Engineering Team, and Support Team. This resulted in a total of over 150 new hires globally, bringing our overall headcount to over 850 by the end of 2022.

1 Trillion+ Digital Interactions

In 2022, we facilitated a massive number of digital interactions between brands and customers, resulting in more than 1 Trillion communications across channels such as push notifications, email, WhatsApp, and SMS. We enabled brands to offer 1 Billion+ interactive experiences to their customers in form of AMP emails. Additionally, our platform was able to analyze and handle over half a trillion customer events, assisting businesses in coordinating engagement across various touchpoints in the customer journey.

50+ Success Stories

Netcore Cloud’s customers made significant strides in customer engagement throughout the year 2022. BYJU’S saw a 30% increase in feature adoption and XL Axiata saw a 42% boost in conversion rates on their app. Air Asia experienced a 30% rise in monthly active users through email automation, while IGP, a gifting store, saw a 200% increase in conversions with the help of advanced segmentations and journeys, in-app messages, and push notifications. Luxury online store William Penn achieved over 10 times their return on investment with Netcore Cloud’s AI-powered personalization and customer engagement suite. These successes demonstrate Netcore Cloud’s dedication to enhancing customer engagement and experience for its partners and customers.

Awards and Recognitions

Netcore Cloud has received the distinction of being named a Great Place To Work for the 5th consecutive year. Great Place to Work® is a highly-regarded assessment and recognition program for workplace culture, requiring organizations to excel in all 5 dimensions – Credibility, Respect, Fairness, Pride, and Camaraderie.

Another notable achievement from 2022 is that Netcore Cloud has achieved the highest overall customer ratings of 4.6/5 as a Customers’ Choice in the 2022 Gartner Peer Insights ‘Voice of the Customer’ Report, with 89% of reviewers willing to recommend our product to others.

We are also proud to mention that we have been recognized as a global leader in G2 for the 10th consecutive year.

These accomplishments are a testament to Netcore Cloud’s positive work culture, focus on customer satisfaction, and position as a leader in the marketing technology industry.

80+ Product Announcements

In 2022, Netcore Cloud platform saw notable advancements in four areas of significant importance for marketers and product managers, leading to enhanced customer engagement.

Superior Personalised Experiences for End-Users:

  • UNBXD – A $100 million acquisition: Offers relevant and personalised product discovery experience for customers
  • Social Proofing: Creates a sense of urgency/FOMO, and nudges the user to make that purchase by showing information on how many people viewed or purchased a product.

Improved reach for Marketers:

  • New unified campaign ability for WhatsApp: WhatsApp has by far the highest engagement rates across channels. Now, you can use this channel right in your journeys and improve funnel conversions by over 30%.
  • Business activity trigger – Helps marketers to be even more relevant with their communications as they can now engage with their customers basis various business events such as a price drop, back in stock, new release, flight delayed etc., 

Advanced AI & Analytics for Data-driven decision making:

Speed & Agility for Marketers & Product Managers:

  • Smart journeys – A gallery of Smart journeys based on the industry verticals selected on the platform. Upon selecting a journey, the complete journey nodes will load in the journey builder canvas for the marketer to simply fill in the details and trigger communications in no time.
  • DIY AMP Editor: Using the DIY AMP editor, marketers can build AMP creatives on their own without any coding. We’ve added five new AMP editable templates to fast-track your campaigns.
  • DIY Editor For Web Messages: – Helps marketers build visually stunning, mobile-responsive web messages for their campaigns.
  • Amplitude Netcore Integration: Marketers can seamlessly pair Amplitude’s analytics with Netcore CE’s full-stack solutions to deliver customer experiences across the touch-points of the user journey.

EDGE – Our Flagship Product Event

In June 2022, we conducted EDGE – our flagship product event and announced a couple of latest & cutting EDGE advancements in our Customer Engagement platform such as the UNBXD, Subject Line Generator, DIY Editor and more.

During the event, our customer Pepperfry talked about how they increased their conversion rate by over 54% using Netcore Unbxd Site Search by providing visitors with AI-powered relevant shopping experiences and context-aware search results. MPL – India’s biggest gaming app, shared how they are able to optimize their screen layout with A/B tests, manage feature visibility and drive new game discovery – all in a matter of minutes using Netcore’s No-code Product Experience platform.

You can find a recap of the entire event here.

What Next

In 2023, our focus will be on four key areas for marketers and product managers:

  1. Superior personalised experiences for customers
  2. Enhanced customer interactions with higher reachability via newer channels and cutting edge features to fuel retention and growth.
  3. Ease of data access with upgraded plugins for third-party apps, intelligence & actionable insights for data-driven customer engagement
  4. Speed & Agility for Marketers & Product Managers with more DIY and low code technology.
  5. Scale & Infrastructure – Increased speed, improved performance and higher availability.

If you would like to learn more, you can schedule a personalized walkthrough of our platform at your convenience. For general queries, including partnership opportunities, please email [email protected].

For a trip down memory lane, check out our last year’s roundup of everything we announced in 2021.

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Written By: Pradeep Thangaraju