In a series D fundraising round headed by investment firm CDPQ, which pledged US $75 million, customer engagement and retention platform CleverTap raised US $105 million. Tiger Global, Sequoia Capital India, and IIFL AMC’s Tech Fund also participated in the round.
Following the transaction, directors from CDPQ will join CleverTap.
Through analytics, segmentation, and engagement solutions, CleverTap, which is now located in the US, assists businesses and brands in developing relationships with their consumers. Since its establishment in 2013, it has been utilized by 1,200 businesses across 100 nations, including Gojek, Carousell, AirAsia, ShopX, and Electronic Arts.
The current locations of CleverTap offices include California, Mumbai, Singapore, Jakarta, Dubai, Sofia, Sao Paulo, Bogota, and Amsterdam.
The firm intends to use the additional funds for recruiting, growth, and product development.
Sunil Thomas, who has held the position of chief technology officer at a number of media and technology firms, founded CleverTap alongside Suresh Kondamudi and Anand Jain. Former Freshworks executive Sidharth Malik is presently in charge of the platform.
CleverTap purchased rival Leanplum from San Francisco earlier this year for an unknown sum.
