Last Updated: August 10, 2022, 19:13 IST
CDPQ will be part of CleverTap’s board of administrators upon closure of this funding spherical. (File photograph/News18)
The funds shall be used to help CleverTap’s world growth and improve the event of its world-class options and know-how
B2B SaaS platform CleverTap on Wednesday stated it has signed agreements to elevate $105 million, about Rs 834 core, within the fourth stage of its funding spherical led by world funding group CDPQ. CDPQ has dedicated an funding of $75 million within the sequence D funding spherical.
IIFL AMC’s Tech Fund, together with present traders Tiger Global and Sequoia India, has additionally participated within the funding spherical, the Software-as-a-Service (SaaS) agency stated in an announcement. “The funds will be used to support CleverTap’s global expansion and enhance the development of its world-class solutions and technology,” the assertion stated. CleverTap was based in Mumbai in 2013 however it’s headquartered in Mountain View, California.
CleverTap claims to have a buyer base of 1,200 manufacturers in 100 international locations. Its consumer base represents 10,000 apps throughout industries, together with fintech, e-commerce, subscription, on-demand and streaming media. “The addition of long-term investors CDPQ and IIFL AMC Tech Fund to CleverTap’s existing backers Sequoia India, Accel, Tiger Global, and Recruit Holdings is a great endorsement of the successful business we have built. “The fresh funds will help fuel our plans to further strengthen our presence in key geographies and expand our teams,” CleverTap co-founder and govt chairman Sunil Thomas stated within the assertion.
As a part of the transaction, CDPQ will be part of CleverTap’s board of administrators upon closure of this funding spherical. IIFL AMC’s funding is topic to approval from Securities and Exchange Board of India (Sebi), the assertion stated.
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