PE Fund Investments
Customer lifecycle mgmt enabler Clevertap raises $105-M led by CDPQ at $775-M valuation
Mumbai- and Mountainview, California- based customer lifecycle management and mobile marketing company CleverTap has raised USD 105 million in a Series D round of funding led by Canadian investment group CDPQ, which committed USD 75 million as part of the round. The round also saw participation from IIFL AMC's Tech Fund and returning investors Tiger Global and Sequoia India. A CDPQ representative will join CleverTap's board. CleverTap was valued at USD 775 million as part of the round, nearly double its valuation of USD 385 million in its Series C round in October 2019. CleverTap offers a Software-as-a-Solution (SaaS) model customer engagement and retention platform to over 1,200 brands in 100 countries, across fintech, ecommerce, subscription, on-demand and streaming media companies. It will use the fresh capital for global expansion and to enhance product development and technology.
From the Venture Intelligence PE-VC Deal Database: Between Jul-14 and Oct-19, CleverTap had raised over USD 70 M from Accel India, Tiger Global and Sequoia Capital India.
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