CleverTap Raises $105 Million To Manage User Retention With AI
CleverTap, company for managing user engagement and retention with a variety of tools build on a foundation of AI-powered data insights, has raied $105 million in a Series D funding round announced today.
Created on August 10|Last edited on August 10
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Machine learning's ability to track trends and mass-compute data for prediction naturally lends itself to advertising, especially areas like user retention where user action trends are everything. With AI to predict the best times to strike users with advertisements, or figuring out the best method to reach out to them, AI models can help maximize user engagement with the brand.
CleverTap offers a wide range of products for user retention and reach-out, with tools like analytics insights, automated user segmentation, and more, many of which are built on mass-data-computing machine learning models. Over 10,000 brands already use their AI-powered offerings to engage with potential return customers at the best possible moments.
Who's funding CleverTap and where's the money going?
CleverTap has announced a Series D raise of $105 Million today. This funding round was led by CDPQ, with additional participation from IIFL Asset Management, Recruit Holdings, Sequoia Capital India, and Tiger Global Management.
They plan to use the money to grow the business' global reach, with the intention of being "the world's #1 retention cloud". They will also be investing in the further development of their platform and solutions, such as with the recent release of their TesseractDB technology.
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