• CleverTap has entered into agreement to raise US$105 million in a Series D funding round from global investors, led by CDPQ.
• Following the completion of this funding round, CDPQ will join the CleverTap Board of Directors.
• The investment by IIFL AMC is subject to approval by the Securities and Exchange Board of India (SEBI)

CleverTap has entered into agreement to raise US$105 million in a Series D funding round from global investors, led by CDPQ.

As a lead partner, CDPQ has committed to infuse  $75 million in funding out of total US$105 million, along with participation from IIFL AMC’s Tech Fund as well as existing investors Tiger Global and Sequoia India.

Following the completion of this funding round, CDPQ will join the CleverTap Board of Directors.

.@LaCDPQ investit dans @CleverTap un chef de file mondial dans les logiciels-services (SaaS) interentreprises pour aider les grandes marques de l’industrie numérique à optimiser l’engagement et la fidélisation de leur clientèle. https://t.co/b9rD4VzwDT pic.twitter.com/d5diki68hG

— CDPQ (@LaCDPQ) August 10, 2022

The investment by IIFL AMC is subject to approval by the Securities and Exchange Board of India (SEBI).

Clever Tap was founded in Mumbai in 2013, now headquartered in US. The company has successfully built a SaaS platform for customer engagement and retention that uses machine learning and artificial intelligence. Platforms provide a comprehensive user engagement suite, allowing brands to develop valuable, long-term relationships with their customers.

To accomplish this, the company has created TesseractDB™. It enables some of the world’s largest brands to hyper-personalize their user touch points at scale using machine learning, without having to worry about data limitations or costs.

We are poised to take our #userretention capabilities to the next level and redefine the future of MarTech! Big thanks to our investors @LaCDPQ, @IIFLAMC, #TigerGlobal, & @SequoiaIndiaSEA. Check out this @business's article for details: https://t.co/mrND7BLywW pic.twitter.com/DMVlaS2iO6

— CleverTap (@CleverTap) August 11, 2022

Earlier CleverTap acquired San Francisco-based Leanplum which is leading multi-channel customer engagement platform and its acquisition in June 2022 is helping CleverTap in expanding its footprint in North America and Europe.

CleverTap’s subscription-based solution is used by a loyal customer base of 1,200 brands in 100 countries, representing 10,000 apps in industries such as Fintech, eCommerce, Subscription, On Demand, and Streaming media.

Sunil Thomas co-founded CleverTap and served as CEO for eight years. He has previously worked for Infomedia18, Microsoft, CNBC, and Hewlett-Packard.

It is the first company in the Marketing Technology (Martech) space to recognise the need for differentiated, modern technology and to provide an end-to-end platform that uses user data to provide actionable insights.

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