California-based customer lifecycle management and engagement platform CleverTap has raised ₹182 crores ($26 million) in series B round from Sequoia Capital. Other venture capital firms including Tiger Global and Accel Partners also participated in the funding round. Sequoia and Accel are existing investors in the startup.
Founded by Anand Jain, Sunil Thomas and Suresh Kondamudi in 201, CleverTap is a SaaS-based platform that helps businesses manage customers and engage with them by combining the power of real-time consumer insights. The startup has used a segmentation engine and engagement tools to create a single intelligent marketing platform.
The startup earlier raised ₹56 crores ($8 million) in series A round from Sequoia and Accel in 2015. The startup has raised over ₹287 crores ($41 million) in funding since its inception. Most recently in January 2018, Japan-based Recruit Holdings Co. invested an undisclosed amount in CleverTap.
Now, CleverTap valuation has soared to ₹1,050 crores ($150 million). The startup will use the freshly raised capital to innovate and double its workforce from 125 to 250. Furthermore, it will boost its marketing and increase geographical footprint to South-East Asia excluding Japan and China. The startup was founded in Mumbai.
The startup currently caters to 8,000 customers including Domino’s Pizza, Hotstar, Vodafone and Go-Jek. CleverTap operates four offices including one in Mumbai and one in Singapore besides its headquarters in California
Tiger Global launched its ₹26,250 crores ($3.75 billion) worth 11th fund in October 2018. Since then it has invested in more than 12 startups including Fyle, Facilio, Roposo and Ola’s electric mobility arm.