CleverTap, a Sunnyvale, California-based mobile analytics and mobile marketing SaaS provider, as per recent reports, has announced raising $26 million in Series B funding round, led by Sequoia India. The Series B funding round also observed participation from new investor, Tiger Global Management, and existing investor, Accel.
According to CleverTap, the recently obtained funds are to be utilized in further tuning the company’s data science-driven product capabilities and scaling to meet the ever so fast-growing demand for its customer lifecycle management platform. With this recent Series B funding, the company’s total valuation now exceeds $150 million.
The Sunnyvale-based CleverTap’s platform enables businesses all around the world to deliver omnichannel experiences in real time to millions of their customers worldwide. By employing CleverTap’s proprietary big data and artificial intelligence (AI) engine, businesses, now equipped with analysis tools, can analyze billions of user actions and behavior patterns, and thus can now equip their marketing and growth teams with immediate customer context tools at every stage of the customer journey.
“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.
“Sequoia India is happy to lead this round of financing at one of the fastest growing SaaS start-ups,” stated 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.”