Customer lifecycle management platform, CleverTap, has announced a $26 million Series B funding round, led by Sequoia India with participation from new investor, Tiger Global Management, and existing investor Accel. The funds will be used to accelerate CleverTap’s data science-driven product capabilities and scale to meet fast-growing demand for its customer lifecycle management platform. The new funding brings the company’s valuation to more than $150 million.
CleverTap’s platform enables businesses to deliver omnichannel experiences to millions of their customers in real time. Using CleverTap’s proprietary big data and artificial intelligence engine, businesses can analyze billions of user actions, providing marketing and growth teams with immediate customer context at every stage of the customer journey. CleverTap’s revenue has been growing at 250% year-over-year since 2015, driving over $2 billion in incremental revenue for its customers.
We’re building CleverTap for the long term. The addition of Tiger Global to CleverTap’s existing investors, Sequoia India, Accel and Recruit Holdings, is a tremendous endorsement of our innovation and success. At the core, we believe that every business will benefit from the investments we continue to make in our platform, ”
Sunil Thomas, CleverTap’s CEO and Co-founder.
CleverTap recently opened its APAC headquarters in Singapore and has expanded its presence in the Americas and Europe to serve rapidly-scaling brands.