CleverTap is a California-based SaaS company that offers customer lifecycle management and mobile marketing services. The company was established in May 2013, and is headquartered in San Francisco, California.[1] CleverTap's platform is built on a database designed to optimize both speed and scalability, enhancing user engagement for its clients.[2]
CleverTap was founded by Sunil Thomas, Suresh Kondamudi, and Anand Jain, who were colleagues at Network 18.[3] The company was established in May 2013 and their product was publicly launched in September 2015. At the same time, the company changed its trading name from WizRocket to CleverTap. Sidharth Malik was employed as its global CEO in December 2021.[4]
In May 2022, CleverTap announced the acquisition of Leanplum, a mobile marketing vendor originating from Bulgaria and based in San Francisco. While the price of the acquisition has not been disclosed, the company stated the funds were cash and stock transactions that were funded by internal accruals and CleverTap stock. The acquisition is set to aid with CleverTap's global objective of providing development centers and customer-facing teams across North America, Europe, Latin America, India, Southeast Asia, and the Middle East, with an estimated total customer base of 1,300 customers.[5]
The company secured seed funding of USD 1.9 million from Accel in July 2014.[6] Additional Series A funding of US$8 million was secured from Accel and Sequoia Capital in August 2015.
In October 2017, the company secured an additional US$6 million[7] from existing and new investors at RSP India Fund, an investment subsidiary of Recruit Holdings.[8] [9]
In April 2019, CleverTap raised US$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 US$35 million led by Sequoia Capital and Tiger Global Management, bringing the total investment to just over US$77 million.[11] CleverTap announced it raised $105 million in a Series D funding round. The round was led by global investment firm CDPQ, which committed $75 million, and saw participation from IIFL AMC's Tech Fund, as well as existing investors Tiger Global and Sequoia India.[12]
In 2017, TiE Silicon Valley included CleverTap in its list of TiE50, World's 50 Most Promising Technology Startups.[13] Sunil Thomas, CEO of the company, was named as one of the 25 Marketing Technology Trailblazers in 2017 by Advertising Age.[14]
In 2021, CleverTap was recognized as one of Forbes’ Best Startup Employers in America for the second consecutive year.[15]
In 2022, the company was awarded the Breakout SaaS Startup of the Year[16] by SaaSBOOMi, a community of SaaS founders and product builders shaping India's SaaS industry. That same year, it was also included in the G2 list of best software sellers.[17]
Also in 2022, CleverTap was selected as one of India’s Great Mid-size Workplaces by Great Place To Work.[18] That same year, CleverTap was named a Leader in the Mobile Marketing category in the summer reports by G2 for the 12th time in a row.[19] In the G2 Fall 2022 report, the company was named a global Leader in the Mobile Marketing category as well as a Momentum Leader, Leader for Asia and India regions, and Leaders in the Mid-Market and Small Business segments.[20]
In October 2022, the website Tracxn identified the company as a 'Soonicorn' — a startup on the verge of achieving 'unicorn' status.[21]