startup funding

CleverTap Raises $26 Mn from Sequoia Capital, Tiger Global and Others

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    Silicon Valley-based Wizrocket, which owns and operate CleverTap, a marketing automation and analytics platform, has raised $26 million (about Rs 180 crore) in Series B round of financing led by Sequoia Capital India and Tiger Global Management at a valuation of more than $150 million, reported Venturebeat.

    Besides Tiger Global being new investor to CleverTap, the company’s existing investor Accel Partners also contributed to the round.

    CleverTap will use the fresh capital raised in itsproduct innovation, global expansion of its operations as well as its team.

    With this funding, CleverTap has now raised a total of $41.6 million since it launch in 2013.

    The company last raised funding in January last year when it raised about $6 million from Japanese diversified consumer and business services provider Recruit Holdings.

    Founded by ex-Network18 executives — Anand Jain, Sunil Thomas and Suresh Kondamudi, CleverTap helps consumer brands retain their users through it mobile marketing solution that brings together user data from online and offline channels on one centralized platform. CleverTap uses machine learning models to create differentiated customer engagement strategies that help marketers drive omnichannel growth.

    CleverTap counts leading brands among its clientele including Vodafone, Star, Sony, Domino’s Pizza, GO-JEK and BookMyShow. The company operates out of San Francisco, New York, London, Singapore, Mumbai, and Bengaluru.

    Prior to launching CleverTap, its co-founder Anand Jain was founding CTO of burrp.com, a local reviews and recommendations platform based out of Mumbai, which was acquired by Infomedia 18 Ltd (now merged with Network 18) in 2009. Prior to burrp.com, Anand was based out of the US (Seattle and San Francisco) where he has worked with with Motorola, AT&T and a mobile startup – Brience.

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    Suman Chaudhary
    An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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