CleverTap, a SaaS based mobile analytics and mobile marketing company based in California, has raised $35 million in a Series C round, led by existing investors Tiger Global Management and Sequoia Capital. With this round of funding, the company is valued at $385 million.
CleverTap’s customer lifecycle and user retention platform leverages machine learning to offer a robust engagement suite that enables brands to convert, engage, retain, and grow their mobile user base.
It is understood that the fund will help in business growth, as well as improvement of it’s platform and technology. The company will also be leveraging the funds for expansion of their core market in India and extend their reach in markets abroad. As per the company’s statement -the funds will be used to fuel team growth across engineering, sales, and marketing across the US, Latin America, Europe, and Asia, allowing CleverTap to expand on its growing technology leadership position and drive awareness in expanding territories.
This round of funding increases CleverTap’s outside investment to $61 million since the beginning of 2019 — a period that has seen the company’s valuation more than double from $150 million to $385 million.
CleverTap enables marketing automation, customer engagement automation driven by advanced analytics for businesses in food tech, ecommerce, media, travel etc. Their offerings helps brands build valuable, long-term relationships with their customers based on real-time behavioral analytics and a platform to engage users on the right channels, at the right time, and with a message that resonates.
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