Capillary Technologies Raises $45 Million In Series D Funding
Capillary Technologies, a software-as-a-service startup, has raised $45 million (Rs 370 crore) in a Series D funding round from a host of investors, including Avataar Venture Partners along with its limited partners Pantheon, 57Stars, and Unigestion.
The funding round also saw participation from Filter Capital and venture debt platform Innoven Capital.
As per the startup, the freshly raised funds will be used to expand its presence across geographies, along with supporting its mergers and acquisitions plans.
Capillary Technologies | Customer Loyalty And Engagement Solutions
Founded by Aneesh Reddy in 2012, Capillary Technologies offers end-to-end loyalty programs and customer engagement technology solutions.
The startup also offers a comprehensive view of consumers and unified, cross-channel strategies that deliver a real-time omnichannel, personalized, and consistent experience for customers.
Speaking about the development, Aneesh Reddy, Founder and MD of Capillary Technologies, said,
“With this new funding, we are poised to expand our footprint in North America and Europe and pursue strategic acquisitions that align with our vision of becoming the preeminent loyalty company globally.”
Also backed by investors like Warburg Pincus and Sequoia Capital, Capillary claims to work with over 250 enterprise brands, reaching beyond one billion customers worldwide.
With a presence across the United States, India, the Middle East, and Southeast Asia, Capillary Technologies counts brands like Tata, Domino’s, PUMA, Shell, Al-Futtaim, Petron, Marks & Spencer and Kanmo Group as its clients.
Commenting on the development, Mohan Kumar, Managing Partner at Avataar Ventures, said,
“The strategic decision to diversify from Asia into the US and Europe, encompassing various consumer verticals beyond retail, has been nothing short of impressive. This move has catapulted Capillary into a leadership position in loyalty software.”
Including this funding round, Capillary has raised a cumulative funding of $100 Mn across eight rounds. In April, the Singapore-headquartered firm acquired US-based Brierley—marking its fifth successful acquisition on a global scale and its second in the US. Capillary’s other acquisitions include Ruaha Technology Labs, Persuade, Sellerworx, and Martjack.
Avataar Venture Partners is a Bengaluru-based growth-stage and tech-focused investment firm that typically invests with ticket sizes in the $10-50 million range. The Bengaluru-based firm targets companies with annual recurring revenue (ARR) of $10 million and above and works to help them scale to an ARR of $100-150 million.
It counts startups like Zenoti, Algonomy, HealthPlix Technologies, Amagi, RateGain, and Tech Sense, among others, as part of its portfolio.
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