Sequoia India leads $26 Million funding round of CleverTap.
CleverTap valuation reaches to $150-$160 Million.
CleverTap to launch its business in Indonesia, Latin America, and
India based Startup CleverTap has raised $26 Million in a fresh funding round led by Sequoia India. Existing investors Roger Global and Accel also participated in the funding round. Post this round CleverTap is now valued $150-$160 Million and firm has till now raised $40 Million funds from investors.
CleverTap a Mumbai based startup came into action in 2015. It provides various services to customers including in-app activity, email, Facebook, Wattsapp for business and Viber. It provides competition to existing firms by providing a facility in customer experience services including Oracle Cloud. Its service patronizes companies in mapping out how their users are engaging across those vectors, and create “re-engagement” programs to assist reactive dormant users or enhance engagement among others.
According to company records its SDK is installed in over 8,000 apps and its customers include Hotstar in India, Southeast Asia-based startups Go-Jek and Zilingo and U.S. based Fandango. Its major customer base is in Asia and Asia Market is more focused on personal devices, therefore, its services are basically focused on mobile.
According to TechCrunch report, CleverTap CEO and co-founder Sunil Thomas said, “Lots of engagement in Asia is the well time we have been typing of born bodily on the east aspect of the world, so we received to scale with all these numerous set of gadgets.” That assists to learn CleverTap because it seeks to create market share exterior of Asia, and in markets, just like the U.S. and Europe, the place mobile is proper now only one a part of the marketing and customer engagement course of. The corporate thinks that engagement by mobile has an extended approach to develop there.
CleverTap has landed its services in Singapore and has a well-established office in Sunnyvale and now the company is planning to initiate its services in Indonesia by year end. Since technical and other teams of a startup are in India, therefore, these expansions are centered around business development, with some customer support. The company is also looking to spread its business in Latin America and Europe. Company CEO is focusing to raise more money and raise Company valuation to $400 Million by year end.
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