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It’s a big day for us at CleverTap. We’re delighted to announce that we’ve raised $26 million in Series B funding that values us north of $150 million.
We’re excited to welcome Tiger Global to the investment team. Sequoia Capital, who is leading this investment round, and Accel have been our partners from the founding years and we’re excited to have their continued support in our mission to help consumer brands retain users for life.
CleverTap helps brands improve customer lifetime value and profitability by delivering consistent customer experiences across all touchpoints. By leveraging all their data in real time, and at scale, we help them deliver a better customer experience.
We have a lot to celebrate. In 2018, we added Fandango LATAM, Discovery Kids, Cars24, Lenskart, Ooredoo, Truecaller, Vidio, and many other brands to the incredible list of businesses leveraging our platform to optimize customer lifecycle management.
The last 12 months have been quite busy as we expanded our presence in North America, Singapore, Europe, and India.
We also launched several industry-first features such as machine-learning driven predictions on business outcomes, automated segmentation using recency, frequency and monetary analysis (RFM), intent based segmentation, and Customer Lifecycle Management among others. Currently, we process over 30 billion events and send out more than 8 billion notifications daily.
In December 2018, CleverTap received recognition from EContent Magazine as one of the 100 Companies that Matter in Digital.
The CleverTap platform is designed keeping in mind the future growth demands of rapidly growing companies. The investment will be used primarily to fuel product innovation.
To do this, we are focused on the following key themes:
We’ve helped thousands of global consumer apps build delightful experiences in this age of instant gratification.
We are enabling innovation using AI/ML-based automation and personalization capabilities. Through these, we hope to go beyond momentary interactions to stronger, longer lasting relationships with customers built on a deep understanding of them.
We recently introduced Engagement with Product Recommendations to give you a data science driven way to reach users with in-context recommendations. It allows you to dynamically embed product recommendations in campaign messages in anticipation of what your users actually need.
You can send relevant suggestions in real time so that users can discover items as per their lifecycle stage and consumption preferences. This lets you optimize product discovery, increase upsell opportunities with higher order values, and increase engagement.
Personalization requires you to identify where your user is in their purchase journey. This can be accomplished if you make user lifecycle stages truly actionable. Our automated customer lifecycle management (CLM) capabilities will allow you to build orchestration strategies based on where users are in the customer lifecycle so you never lose context.
To measure the long and short term impact of marketing interventions, we introduced the Real Impact dashboard. It lets you find consolidated insights that tie every campaign to your KPIs across the user lifecycle. With this feature, we hope to provide clarity to growth teams on how their efforts lead to an improvement in business metrics.
Next, we will help reduce campaign inefficiencies with affinity-based segments and lifetime value driven discoveries so you can own your entire user relationship from campaign to purchase.
Our omnichannel orchestration capability is one of the most comprehensive in the industry, with 10+ channels including mobile push, web popups, email, and remarketing (on Google/Facebook).
We recently entered a strategic partnership with Nexmo to further diversify user touchpoints with channels like WhatsApp Business, Facebook Messenger, Viber, SMS, MMS, and voice.
We are very proud of what we have achieved so far. The ability to build delightful customer experiences that help brands develop long-term customer relationships has been our goal.
To continue building value for our customers, not only will we invest in our product technology, but we will also go above and beyond, by:
As always, we are available to chat and help brands make their customer lifecycle marketing more effective. Feel free to reach out if you have any questions.