CleverTap, a Mountain View, CA-based global B2B SaaS platform for customer engagement and retention, raised US$105M in Series D funding.
The round was led by CDPQ, who committed US$75M, with participation from IIFL AMC’s Tech Fund, along with existing investors Tiger Global and Sequoia India. As part of the transaction, CDPQ will join CleverTap’s Board of Directors upon closure of this funding round.
The company intends to use the funds for global expansion and development of its solutions and technology.
Founded in Mumbai in 2013 and led by Sunil Thomas, Executive Chairman, and Sidharth Malik, Chief Executive Officer, CleverTap provides a customer engagement and retention SaaS platform that leverages machine learning and artificial intelligence to offer a comprehensive user engagement suite that enables brands to build valuable, long-term relationships with their customers. The subscription-based solution has been adopted by a loyal customer base of 1,200 brands in 100 countries representing 10,000 apps across industries including Fintech, eCommerce, Subscription, On Demand, and Streaming media.
In June 2022, CleverTap completed the acquisition of San Francisco-based Leanplum, a multi–channel customer engagement platform, further strengthening its footprint in North America and Europe. In the same month, it also launched TesseractDB™, a purpose-built database designed to improve user engagement and retention for digital consumer brands.
The company is headquartered in Mountain View, California, with offices in Mumbai, Singapore, Sofia, São Paulo, Bogota, Amsterdam, Jakarta, and Dubai.
FinSMEs
11/08/2022