Customer engagement and retention platform CleverTap has raised $105 million in a new financing round, the latest in a series of India-origin startups making fast inroads in the global SaaS race. The new round values the startup at about $775 million, up from $385 million in 2019. The startup operates cloud-based customer management and engagement tracking tools that help its clients sustain their user bases and increase their lifetime value.

India is becoming the largest and fastest-growing market for digital consumers. It is witnessing a massive digital transformation in recent years. The Indian government has launched initiatives like the National eGovernance Plan and the Digital India initiative to boost the digital capabilities of the country.