CleverTap secures $26m to fund growth for its Customer lifecycle management platform

Dominos is one of CleverTaps omnichannel platform clients

Customer lifecycle management platform CleverTap has announced a $26m (£19.9m) 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 demand for its platform. The new funding brings the company’s valuation to more than $150m.

CleverTap’s platform enables businesses to deliver omnichannel experiences to millions of their customers in real time. Using the platform’s proprietary big data and artificial intelligence engine, businesses can analyse billions of user actions, at every stage of the customer journey.

“CleverTap is meeting the growth and retention needs of some of the fastest growing consumer apps such as GO-JEK, Fandango, Hotstar and Zilingo,” said Prashanth Prakash, partner at Accel. “Powered by the next generation of data science enabled capabilities, it’s allowing companies to automate their marketing decisions – leading to better business outcomes. We’re excited to bring our expertise to CleverTap to support them in this mission.”

CleverTap recently opened it’s APAC headquarters in Singapore, and has also expanded its presence in the Americas and Europe. Over 8,000 companies around the world use the CleverTap platform, including Vodafone, Star, Sony, Domino’s Pizza, GO-JEK, Cleartrip and BookMyShow.