SaaS company CleverTap Raises $105 mn in funding round led by CDPQ

It runs a cloud service that helps digital brands to increase customer retention

CleverTap, which helps brands to increase and retain customers, has raised $105 million in a funding round led by global investment group CDPQ with participation from IIFL AMC’s Tech Fund and existing investors Tiger Global and Sequoia India.

The B2B SaaS firm on Wednesday signed agreements for the Series D round. As part of the transaction, CDPQ has committed $75 million funding and will join CleverTap’s board of directors. IIFL AMC’s investment is subject to approval from the Securities and Exchange Board of India (SEBI).

“The latest fundraise reaffirms customer and market belief in CleverTap and our growth potential.