NEWS17 October 2019

CleverTap closes Series C investment

Mobile News North America Technology

US – Consumer engagement and user retention platform CleverTap has completed a Series C investment round, securing $35m in funding led by existing investors Tiger Global Management and Sequoia India.

The company’s machine learning platform offers clients insights on their mobile customers and allows them to convert, retain and grow their mobile user base. It has been used by organisations including Vodafone, Sony and Discovery.

CleverTap plans to use the latest investment to extend its new US engineering hub, improve its predictive capabilities and expand globally. Funds will be used to recruit staff in engineering, sales, and marketing in the US, Latin America, Europe, and Asia.

Mohit Bhatnagar, managing director, Sequoia Capital India LLP, said: "CleverTap is solving a significant pain point for marketers by offering a user retention platform that can exponentially increase customer lifetime value and long-term growth."