CleverTap, a B2B SaaS platform for customer engagement and retention, announced Wednesday it raised a $105 million Series D funding round. The round was led by CDPQ, which contributed $75 million. Additional investors include Tiger Global, IIFL AMC’s Tech Fund and Sequoia India. CleverTap plans to use its new funds to accelerate its global expansion and enhance product development.
The company was founded in Mumbai in 2013 but is currently headquartered in Mountain View. The SaaS platform uses machine learning (ML) and artificial intelligence (AI) to help brands build lasting relationships with their customers. CleverTap’s comprehensive user engagement suite has been adopted by 1,200 brands representing 10,000 apps across various industries such as fintech, e-commerce and entertainment media.
The company has seen significant growth this year. Just last month, CleverTap acquired multi-channel customer engagement platform Leanplum and launched its newest solution TesseractDB, a purpose-built database for digital consumer brands.
“Our vision has been to reshape the way businesses engage with their consumers and bring the tech to [the marketing technology industry],” CleverTap co-founder Sunil Thomas said in a statement. “The last few months have been quite exciting for us ... and now, with the new institutional investors coming on board, we have all that we need to grow at a faster rate while consolidating our position as the global leader in the retention space.”
CleverTap is currently hiring for 31 jobs across departments and locations, many of which are remote-friendly. The company also has a talent pool where those interested in working for CleverTap can upload their resume and be notified if a position matching their profile opens.
