Sequoia, Tiger Global and Accel pump $26 Mn Series B fund in CleverTap

SaaS-based mobile analytics and marketing platform CleverTap has picked up $26 million Series B round led by Sequoia Capital whereas Tiger Global and Accel Partners also participated.

Tiger Global came in as a new investor while Sequoia and Accel had earlier led $8 million Series A round in 2015 including a seed round in 2014 respectively.

Till date, the six-year-old startup has raised over $41 million. This also includes an undisclosed investment in January 2018 from Japan-based Recruit Holdings Co.

Now, CleverTap valuation has soared to $150 million.

In a press statement to PTI, CleverTap's co-founder said that the latest proceeds will be used for product innovation, doubling the workforce to 250 and increasing geographical footprint to South-East Asia, excluding China and Japan.

Referred to as the Mumbai-born global company, CleverTap was founded by Jain, Sunil Thomas,  and Suresh Kondamudi. It essentially helps businesses to manage and engage customers by combining the power of real-time customer insights. It integrates advanced segmentation engine, and engagement tools into a single intelligent marketing platform.

CleverTap's service covers a suite of point of contact with consumers, including email, in-app activity, push notifications, Facebook, and WhatsApp for Business.

Currently, CleverTap serves 8,000 customers such as Vodafone, Go-Jek, Domino's Pizza and Hotstar, across 100 countries through four offices. Besides Mumbai, it has a base in California and Singapore.

Since its launch of $3.75 billion worth 11th fund in October 2018., Tiger Global has invested in over half a dozen Indan companies including Ola's electric mobility arm, Fyle, Facilio, and Roposo.

Last month, Tiger Global's oldest partner Lee Fixel announced his departure after serving 13 years stint at the hedge cum VC fund. Famously called as king of Indian e-commerce for his bold bets on India’s consumer internet business, Fixel will depart on June 30.