Customer lifecycle management platform CleverTap today announced a 26 million Series B funding round led by Sequoia India with participation from new investor Tiger Global Management and existing investor Accel The funds will be used to accelerate CleverTap’s data science-driven product capabilities and scale to meet fast-growing demand for its customer lifecycle management platform The new funding brings the company’s valuation to more than 150 million
CleverTap’s platform enables businesses to deliver omnichannel experiences to millions of their customers in real time Using CleverTap’s proprietary big data and artificial intelligence engine businesses can analyze billions of user actions providing marketing and growth teams with immediate customer context at every stage of the customer journey CleverTap’s revenue has been growing at % year-over-year since , driving over 2 billion in incremental revenue for its customers
Sequoia India is happy to lead this round of financing at one of the fastest growing SaaS start-ups said Mohit Bhatnagar Managing Director at Sequoia Capital India Advisors If you’re a product manager and don’t know what Clevertap does you may miss that promotion you are after ”
Marketing technology is undergoing rapid transformation and we believe CleverTap is well positioned to help consumer businesses drive materially higher customer lifetime values said Scott Shleifer Partner Tiger Global
CleverTap is meeting the growth and retention needs of some of the fastest growing consumer apps such as GO-JEK Fandango Hotstar and Zilingo Powered by the next generation of data science enabled capabilities it’s allowing companies to automate their marketing decisions – leading to better business outcomes We’re excited to bring our expertise to CleverTap to support them in this mission said Prashanth Prakash Partner at Accel
We’re building CleverTap for the long term The addition of Tiger Global to CleverTap’s existing investors Sequoia India Accel and Recruit Holdings is a tremendous endorsement of our innovation and success At the core we believe that every business will benefit from the investments we continue to make in our platform said Sunil Thomas CleverTap’s CEO and Co-founder
CleverTap recently opened it’s APAC headquarters in Singapore and has expanded its presence in the Americas and Europe to serve rapidly-scaling brands
About CleverTap
CleverTap is a customer lifecycle management platform that helps brands deliver delightful customer experiences at scale
Over 8,000 companies around the world including Vodafone Star Sony Domino’s Pizza GO-JEK Cleartrip and BookMyShow trust CleverTap to deliver personalized experiences and improve the impact of omnichannel marketing across the entire customer lifecycle CleverTap is backed by leading venture capital firms including Sequoia India Tiger Global Management Accel and Recruit Holdings and operates out of San Francisco London Singapore Mumbai and Bengaluru For more information visit clevertap com
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