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

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.

Mumbai based startup WizRocket gets funding from Accel Partners

US based Venture and growth equity firm Accel Partners has invested an undisclosed amount of funds in SaaS based Mumbai startup WizRocket.

WizRocket is a user behavior analysis & targeting tool that helps web businesses interact with their users across offline and online mediums. It enables web businesses to do web messaging, push notifications, in-app messaging and even reach out to customers via SMS or Email.

Founded in 2013 Wizrocket by former Network18 executives Sunil Thomas, Suresh Kondamudi and Anand Jain (co-founder of Burrp) WinzRocket is currently in private beta with 25 global customers. The product is set to open for other customers in September this year. The startup presently have team of just 10 people in its office.

Some of the WizRocket customers include Bookmyshow, Pricebaba, Homeshop18 and Nasdaq-listed mobile advertising firm Marchex.

WizRocket let websites discover the who (people), what (events) and why (behavior) on their own websites and mobile apps and then apply behavior targeting to improve retention, engagement and conversion rates. The analytics and the targeting are dashboard driven.

The big breakthrough that WizRocket has achieved recenlty is the ability to query 100 million data points in less than 200ms on a small sized AWS EC2 instance. This enables quick segmentation to study several facets of user behavior.

Since 1983, Accel Partners has invested in over 300 companies and manages over $8.8 billion from offices in Palo Alto, California, New York City, London, India and China.