CleverTap, a customer engagement and retention platform, has raised $105 million in a Series D funding round.
The round was led by CDPQ, a global investment group, which committed $75 million. IIFL AMC’s Tech Fund, along with existing investors Tiger Global and Sequoia India also participated.
Sunil Thomas, Co-founder and Executive Chairman, CleverTap, said, “The fresh funds will help strengthen our presence in key geographies and expand our teams.”
Founded in Mumbai in 2013 and headquartered in Mountain View, California, CleverTap’s customer engagement and retention SaaS platform leverages machine learning and artificial intelligence.
CleverTap’s subscription-based solution has been adopted by 1,200 brands in 100 countries across industries that include fintech, ecommerce, and subscription, on-demand, and streaming media, it said.
In June 2022, CleverTap completed the acquisition of San Francisco-based Leanplum, a multi-channel customer engagement platform, to strengthen its footprint in North America and Europe. In the same month, it unveiled TesseractDB, a purpose-built database designed to improve user engagement and retention for digital consumer brands.