CleverTap raises $105 mn in VC funding round led by CDPQ

CleverTap, a global B2B SaaS platform for customer engagement and retention, is set raise $105 million in a Series D VC funding round led by CDPQ.
VC funding for techCDPQ, a global investment group, committed $75 million to invest in CleverTap.

IIFL AMC’s Tech Fund, along with existing investors Tiger Global and Sequoia India, are also funding CleverTap.

Founded in Mumbai in 2013 and headquartered in Mountain View, California, CleverTap will use the funds to support CleverTap’s global expansion and enhance the development of its solutions and technology.

CleverTap’s customer engagement and retention SaaS platform leverages machine learning and artificial intelligence to offer user engagement suite that enables brands to build relationships with their customers.

CleverTap’s subscription-based solution has been adopted by a loyal customer base of 1,200 brands in 100 countries representing 10,000 apps across industries including Fintech, eCommerce, Subscription, On Demand, and Streaming media.

In June 2022, CleverTap completed the acquisition of San Francisco-based Leanplum, a multi–channel customer engagement platform, strengthening its footprint in North America and Europe.