CleverTap

CleverTap is a SaaS based customer lifecycle management and mobile marketing company headquartered in Mountain View, California. Founded in May 2013, it provides mobile app analytics and user engagement products to more than 8000 companies.[1] The company is backed by Sequoia Capital, Tiger Global Management, Accel Partners and Recruit Holdings.

History

Co-founder Anand Jain met Sunil Thomas and Suresh Kondamudi during his stint at Network 18 after his previous company, Burrp, was acquired by Network 18 in 2009.[2] Together, they started CleverTap in May 2013.[3] BookMyShow was the first customer in October 2013.[4] CleverTap announced its US launch in September 2015 during TechCrunch Disrupt Battlefield in San Francisco.[5] During this time, the company also changed its trading name from WizRocket to CleverTap.[3]

Funding

The company secured a seed funding of USD 1.6 million from Accel Partners in July 2014.[6] It secured an additional Series A funding of USD 8 million from Accel Partners and Sequoia Capital in August 2015.[6] In October 2017, the company secured an additional USD 6 million[7] from existing and new investor RSP India Fund, investment subsidiary of Recruit Holdings.[8][9]. In April 2019, CleverTap raised USD 26 million in Series B investment from Sequoia Capital, Tiger Global Management, and Accel[10]. In October 2019, CleverTap announced its Series C investment of USD 35 million led by Sequoia Capital and Tiger Global Management, bringing the total investment to just over USD 77 million[11].

Awards and recognition

In 2017, TiE Silicon Valley included CleverTap in its list of TiE50, World's 50 Most Promising Technology Startups.[12] Sunil Thomas, CEO of the company, was named as one of the 25 Marketing Technology Trailblazers in 2017 by Advertising Age.[13]

See also

References

  1. Sahay, Priyanka. "Clevertap to raise $20 million from existing, new investors". Money Control. e-Eighteen.com Ltd. Retrieved 12 December 2017.
  2. Sharma, Priyanka (3 March 2017). "Anand Jain, Co-Founder, Clevertap". India Infoline News Service. Dalal Street Investment Journal. Retrieved 12 December 2017.
  3. Abudheen K, Sainul. "Success is a moving target: CleverTap Co-founder Anand Jain". E27. Entrepreneurs 27. Retrieved 12 December 2017.
  4. Sangwan, Sujata (9 June 2017). "CleverTap, A Platform for Behavioral Analytics and User Engagement". BW Disrupt. Business World. Retrieved 12 December 2017.
  5. "Mobile Engagement Platform, CleverTap, Launches in the U.S." Business Wire. 24 September 2015. Retrieved 12 December 2017.
  6. Pai, Vivek. "WizRocket secures $8M from Sequoia and Accel Partners". MediaNama. Mixed Bag Media Pvt. Ltd. Retrieved 12 December 2017.
  7. "SEC FORM D 2017". Securities and Exchange Commission.
  8. "Japan – Recruit Holdings Q2 Revenue Up 11%, Growth Boosted By Staffing And HR Technology Segments". Staffing Industry Analysts. Crain Communications Inc. Retrieved 12 December 2017.
  9. "Recruit : Invests in WizRocket, Inc., Developer of Mobile Marketing Platform "CleverTap"". 4-traders.com. Surperformance. Retrieved 12 December 2017.
  10. "CleverTap Receives Series B Investment of $26M to Accelerate AI/ML-driven Marketing Innovations". CleverTap. Retrieved 2019-04-14.
  11. "Series C Funded, On to Our Global Go-To-Market Strategy". CleverTap. Retrieved 2019-12-07.
  12. "2017 TiE50 Winenrs". TiE50 Awards Program. TiE Silicon Valley. Retrieved 12 December 2017.
  13. "Introducing Ad Age's 25 Marketing Technology Trailblazers 2017". AdAge India. Advertising Age. Retrieved 12 December 2017.
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