CleverTap, the mobile analytics and marketing startup has announced raising a $26 million in Series B financing from Sequoia Capital India. Tiger Global Management as a new investor in the firm also participated in the investment round along with existing backer Accel Partners.
The last investment for CleverTap had come in November 2017 when it had raised $6 million in Venture Round. The total amount raised by the company after the current capital infusion now stands at $41.6 million. The firm is now valued at $150-$160 million.
Anand Jain, Sunil Thomas, and Suresh Kondamudi had started the firm in 2013 in Mumbai. The real-time dashboard of the firm which it provides through its mobile app allows the developers to use various metrics for installs/uninstalls, active time and usage patterns for a fixed monthly rate. The platform also helps in customer retention as the platform helps in tracking the behavioural activity of the customers.
The clients of the firm include the names like Vodafone, Star, Sony, Domino’s, Go-Jek, Cleartrip and BookMyShow among the 8,000 customers which the firm claims to have worked with. It claims to be processing more than 26 million push notifications in a minute. The number eventually means that CleverTap processes around 8 billion push notifications daily.
Jain, one of the co-founders of the firm talking about CleverTap said, "We largely work with consumer internet businesses by helping them segregate users on different categories. We use behavioural analytics to segment users based on their behaviour within the app."
Prashanth Prakash a partner at Accel Partners commenting about the capital infusion said, “Powered by the next generation of data science-enabled capabilities, it is allowing companies to automate their marketing decisions, leading to better business outcomes. We are excited to bring our expertise to CleverTap to support them in this mission."
Image Courtesy : salestechstar