WizRocket Technologies, the India-based owner of data analytics platform CleverTap has received an amount likely to be $6m from investors including human resources firm Recruit Holdings, VCCircle reported on Tuesday.
Recruit invested through its RSP India Fund private equity vehicle, having disclosed its involvement in the round in October 2017, and was joined by venture capital firms Sequoia Capital India and Accel.
A source told VCCircle the funding was likely part of a $8m round, of which $6m had already been secured.
CleverTap is a behavioural-based data analytics platform that helps businesses profile website and mobile app users. The behavioural trends can then be used to select an appropriate marketing strategy that drives user retention, engagement and repeat custom.
The capital will fund product development as WizRocket looks to grow its foothold in the market. WizRocket claims more than 4,000 clients use CleverTap, including electronics vendor Sony and restaurant chain McDonald’s.
WizRocket founder Anand Jain told MoneyControl in May 2017 the company was seeking $20m in series B funding from new and existing investors, having raised $8m from Sequoia and Accel in 2015. Accel had previously contributed $1.6m to the company’s 2014 seed round.