CleverTap in $105m Growth Funding Deal

AI-powered customer lifecycle and user retention platform CleverTap is raising $105m in a Series D round of funding, which it will use to support its global expansion plans and enhance its solutions and technology.

CleverTap, which has offices in San Francisco, Seattle, London, Singapore and Mumbai, offers a suite of tools through which brands can convert, engage, retain and grow their mobile user base, aided by machine learning and behavioral analytics. Last December, the firm appointed former Freshworks CRO Sidharth Malik as Global CEO.

New funding will be led by CDPQ, a global investment group which committed $75m, with participation from IIFL AMC's Tech Fund, along with existing investors Tiger Global and Sequoia India. Sunil Thomas (pictured), CleverTap co-founder and Executive Chairman, comments: 'The last few months have been quite exciting for us with the Leanplum acquisition and unveiling of TesseractDB. And now with the new institutional investors coming on board we have all that we need to grow at a faster rate while consolidating our position as the global leader in the retention space.'

Web site: www.clevertap.com .