Capillary Technologies Explained

Capillary Technologies
Logo Alt:"Butterfly" logo for Capillary Technologies
Type:Privately Held
Area Served:Worldwide
Key People:Aneesh Reddy (CEO)
Anant Choubey (COO)
Rohan Mahadar (CPO)
Piyush Kumar (CTO)
Products:Intelligent Loyalty Platform
Revenue: (FY22)
Profit: (FY22)[1]
Num Employees:400 (2023)[2]
Subsid:Capillary Technologies India Private Limited (India); Capillary Solutions FZ-LLC (Dubai); Capillary Technologies Singapore PTE. LTD; Brierley+Partners
Foundation:Bangalore, India
Location City:Singapore
Locations:14 Offices[3]
Homepage:

Capillary Technologies is an international SaaS technology company. Capillary's primary product is its cloud-based customer loyalty/customer engagement and e-commerce platform, Intelligent Loyalty. Capillary also offers loyalty and other marketing consulting services.

Capillary Technologies was founded in Bangalore in 2008. Today, Capillary is headquartered in Singapore and operates in several countries.

History

Capillary Technologies was founded in August 2008 by Aneesh Reddy,[4] Krishna Mehra, and Ajay Modani and initially headquartered in Bangalore, India.[5] [6] Reddy, Mehra, and Modani were each alumnus at ITC Limited, Microsoft Research, and Danieli, respectively.[7]

In 2013, Capillary Technologies was used as a case study for "reverse innovation" published in Harvard Business Review.[8]

In December 2016, Rajan Anandan, who at the time was Google's Vice President for Southeast Asia and India, joined Capillary's Board of Directors.[9] [10]

Co-founder Aneesh Reddy operated as Chief Executive Officer (CEO) of Capillary Technologies until 2022.[11] In September 2022, Capillary Technologies announced that Sameer Garde would take over as the company's CEO and Reddy would transition to managing director.[12] Garde resigned as CEO in March 2024 "due to personal reasons," and Reddy returned to the company's role as CEO.[13]

Expansion

Capillary Technologies operated primarily in India and in new or emerging markets in less-developed countries. In 2011, Capillary began looking toward established markets in more developed nations.

International growth

The company began expanding operations into China in July 2016[14] and, in September 2019, Capillary partnered with Veda Holding, a Saudi investment holding company, to expand to Saudi Arabia.[15] To operate in the country, Capillary formed a Saudi-specific entity called Capillary Arabia.[16] [17]

United States and Europe

Capillary Technologies began expanding into the U.S. and European markets in 2021. That same year, Capillary acquired Persuade, a U.S. loyalty platform provider. In March 2023, Capillary Technologies and Texas-based Sabre Corporation announced they had signed an agreement to integrate the Capillary loyalty management solution into its airline and hotel platforms.[18] [19]

This announcement was followed by multiple acquisitions. In April 2023, Capillary acquired Brierley+Partners, a U.S. loyalty agency and loyalty program platform provider,[20] [21] [22] [23] [24] [25] and in June 2023, Capillary announced it had acquired the Digital Connect technology assets of Tenerity, a US-based engagement and rewards platform provider.[26] [27] [28] [29] [30]

In May 2023, following Capillary's acquisition of Brierley and shortly before the acquisition of Tenerity's Digital Connect assets, Capillary Technologies raised an additional $45 million in funds.[31] According to Capillary, this new round of funding will primarily help Capillary's plans to grow and expand further in North America and Europe.[32] [33] [34]

Funding

Capillary Technologies has raised multiple rounds of funding from investors since its inception.

Acquisitions

Capillary acquired the e-commerce software platform MartJack in September 2015, supported by a $45 million funding led by Warburg Pincus.[52] [53] [54] [55] [56] [57] In October 2016, Capillary acquired SellerWorx, another e-commerce services and technology company.[58]

In September 2021, Capillary Technologies acquired Persuade, a US-based loyalty firm.[59] In April 2023, Capillary acquired Brierley+Partners (known generally as Brierley), a loyalty agency and platform provider based in Frisco, Texas. Then, in June 2023, Capillary acquired the technology assets of Tenerity, a US-based rewards and engagement platform provider.

Intelligent Loyalty Platform

Capillary Technologies' primary product is its cloud-based SaaS platform Intelligent Loyalty.[60] The Intelligent Loyalty platform includes modules with features for loyalty programs, customer engagement, data analytics, etc.

Product development

As of 2020, Capillary Technologies used GitHub as the core for the end-to-end CI/CD architecture of the company's platform.[61]

In 2023, Capillary launched AskAira, an AI-powered research assistant, as part of its loyalty platform. AskAira utilizes OpenAI's generative AI language models.[62] [63]

Notes and References

  1. News: Rudra . Tapanjana . IPO-Bound Capillary Technologies Slips In The Red In FY22, Posts Loss Of INR 22.2 Cr . 9 July 2023 . Inc42 Media . 27 February 2023 . en.
  2. Web site: About Us, Our journey enabling consumer brands. www.capillarytech.com. 2018-07-19.
  3. Web site: About Us, Our journey enabling consumer brands. www.capillarytech.com. 2018-07-19.
  4. Web site: Aneesh Reddy - India's Young & Brightest Entrepreneurs in 40 Under 40 2015 - Fortune India . 2023-06-09 . www.fortuneindia.com . en.
  5. Web site: Capillary Technologies Pvt Ltd.: Private Company Information - Bloomberg . .
  6. News: The IIT that has given birth to a number of successful start-ups Business Standard News .
  7. News: How Capillary Technologies turned Lehman Brothers collapse into a boom - The Economic Times.
  8. News: Reverse Innovation in Tech Startups: The Story of Capillary Technologies. 20 June 2013. Deshpande. Sachin. Harvard Business Review. 2016-12-08. Vijay. Govindarajan.
  9. News: Capillary Technologies appoints Rajan Anandan as newest board member ANI News . dead . https://web.archive.org/web/20170202011657/http://www.aninews.in/newsdetail-MA/MjkyMjUw/capillary-technologies-appoints-rajan-anandan-as-newest-board-member.html . 2 February 2017.
  10. News: Rajan Anandan joins the board at Capillary - The Economic Times .
  11. News: The boss who was a bully – and how he transformed himself . The Times of India . 2023-06-09 . 0971-8257.
  12. Web site: 2022-09-28 . Capillary Tech names Sameer Garde as CEO, cofounder Aneesh Reddy to serve as vice chairman . 2023-06-09 . Moneycontrol . en.
  13. Web site: Capillary Technologies on LinkedIn: Leadership Update at Capillary Technologies We are writing to share an… . 2024-06-03 . www.linkedin.com . en.
  14. News: Asia's leading omni-channel CRM provider Capillary Technologies expands in China market.
  15. Web site: 2019-09-23 . Capillary Technologies eyes Saudi market . 2023-06-09 . Arab News . en.
  16. News: Capillary Technologies signs JV with Saudi-Based Veda Holding . The Economic Times .
  17. News: 30 September 2019 . Capillary Technologies: A SaaS leader rises from Bengaluru . The Financial Express .
  18. Web site: 2023-03-23 . Sabre (SABR) Inks an Agreement With Capillary Technologies . 2023-06-09 . Yahoo Finance . en-US.
  19. Web site: Sabre Corporation . Sabre announces agreement with Capillary Technologies to help airlines and hoteliers delight travelers through next-generation customer loyalty programs . 2023-06-09 . www.prnewswire.com . en.
  20. Web site: Murray . Lance . 2023-04-05 . Dallas' Brierley+Partners Acquired by India-Based Customer Loyalty, Engagement Platform . 2023-06-09 . Dallas Innovates . en-US.
  21. Web site: Dhond . Ila . 2023-04-06 . US-based Brierley+Partners acquired by SaaS platform Capillary Tech . 2023-06-09 . Incubees . en-US.
  22. Web site: Vardhan . Gyan . 2023-04-04 . Capillary Tech acquires US-based Brierley+Partners . 2023-06-09 . Entrackr . en-US.
  23. News: 2023-04-04 . Capillary's fifth buy is US firm Brierley from Nomura . The Economic Times . 2023-06-09 . 0013-0389.
  24. Web site: 2023-04-04 . Capillary Technologies acquires Brierley; gains momentum to become the best loyalty solutions provider globally . 2023-06-10 . CapillaryTech . en-US.
  25. Web site: 2023-04-13 . New Era in Loyalty: Brierley Joins Capillary Technologies! . 2023-06-10 . www.brierley.com.
  26. Web site: Jose . Teena . 2023-06-08 . Capillary Acquires Tenerity's Digital Connect Assets . 2023-06-09 . Entrepreneur . en.
  27. News: 2023-06-08 . Capillary Technologies makes third US acquisition, takes over Tenerity's Digital Connect assets . The Economic Times . 2023-06-09 . 0013-0389.
  28. Web site: Capillary Acquires Digital Connect Assets from Tenerity . 2023-06-09 . loyalty360.org . en-us.
  29. Web site: Warburg Pincus-backed Capillary Technologies makes third bet . 2023-06-09 . VCCircle . en-US.
  30. Web site: Rudra . Tapanjana . 2023-06-08 . Capillary Acquires Tenerity's Digital Connect To Strengthen Foothold In US, Europe . 2023-06-09 . Inc42 Media . en.
  31. Web site: Daily Research News Online no. 35124 - Loyalty Platform Capillary Raises $45m Expansion Fund . 2023-06-09 . www.mrweb.com.
  32. Web site: Singh . Jagmeet . 2023-06-01 . Indian SaaS startup Capillary Technologies grabs $45M to expand globally . 2023-06-09 . TechCrunch . en-US.
  33. News: Bhalla . Tarush . 2023-06-02 . Capillary Technologies raises $45 million to fuel acquisitions and expansion . The Economic Times . 2023-06-09 . 0013-0389.
  34. Web site: Staff . TechNode Global . 2023-06-02 . India's Capillary Technologies raises $45M Series D funding from Avataar Ventures and its LPs . 2023-06-09 . TechNode Global . en-US.
  35. News: 2009-09-02 . Qualcomm Ventures Announces Eight Shortlist Winners for QPrize Business Plan Competition Qualcomm . Qualcomm . 2016-12-07.
  36. Web site: Capillary Technologies • Norwest Venture Partners . 2016-12-07 . www.nvp.com.
  37. Web site: Portfolio Qualcomm Ventures . 2016-12-07 . www.qualcommventures.com.
  38. Web site: Perez . Sarah . Social CRM Company Capillary Technologies Raises $15.5M From Sequoia, Norwest & Qualcomm . 2016-12-07 . TechCrunch.
  39. Web site: Capillary Technologies . 2023-06-12 . Peak XV . en-US.
  40. Web site: Mishra . Pankaj . With $4M In Fresh Funding From Amex Ventures, Capillary Wants to be Salesforce Of Social CRM . 2016-12-07 . TechCrunch.
  41. News: Archived: Start Singapore . The Straits Times . dead . https://archive.today/20240528005701/https://www.webcitation.org/6n8UrteWG?url=http://infoweb.newsbank.com/resources/doc/nb/news/14C1525766F0A890%3Fp=AWNB . 2024-05-28.
  42. News: Capillary Technologies raises $45 million from Warburg Pincus & others - The Economic Times . The Economic Times . 2016-12-07.
  43. Web site: Anand . J. . 2018-02-21 . Warburg Pincus, Sequoia invest more in SaaS firm Capillary . 2023-06-10 . VCCircle . en-US.
  44. Web site: 2021-12-26 . Capillary Technologies India files draft papers to raise Rs 850 crore through public issue . 2023-06-09 . Moneycontrol . en.
  45. Web site: 2021-12-27 . Capillary Technologies files draft papers to raise Rs 850 cr via IPO . 2023-06-10 . www.business-standard.com . en-US.
  46. Web site: 2023-06-01 . Capillary raises $45 million from Avataar Ventures and its LPs . 2023-06-09 . MarTech Series . en-US.
  47. Web site: FinSMEs . 2023-06-02 . Capillary Raises $45M in Funding . 2023-06-09 . FinSMEs . en-US.
  48. News: Bhalla . Tarush . 2024-02-27 . Capillary Technologies extends latest funding round, raises $95 million in secondary transactions . 2024-06-03 . The Economic Times . 0013-0389.
  49. Web site: Staff . Entrepreneur . 2024-02-28 . Capillary Technologies Raises USD 95 Mn in Secondary Deals and Expands Series D to USD 140 Mn . 2024-06-03 . Entrepreneur . en.
  50. Web site: Mitra . Sudeshna . 2024-02-27 . Capillary Nets $95 Mn In Secondary Fundraise . 2024-06-03 . Inc42 Media . en.
  51. News: Capillary raises $45 million from Avataar Ventures and its LPs - Pantheon, 57Stars, and Unigestion - with a goal to build the best loyalty management company globally . 2024-06-03 . en.
  52. Web site: Shu . Catherine . Social CRM Provider Capillary Technologies Raises $45M, Acquires MartJack . 2016-12-07 . TechCrunch.
  53. News: Capillary takes over ecommerce platform - Times of India . The Times of India . 2016-12-07.
  54. Web site: Capillary Technologies . Capillary Technologies Acquires MartJack and Raises $45 Million Investment Round led by Warburg Pincus . 2023-06-12 . www.prnewswire.com . en.
  55. News: 2015-09-03 . Capillary Technologies Gets $45M Series C Injection, Acquires MartJack . en-US . Wall Street Journal . 2023-06-12 . 0099-9660.
  56. Web site: Prakash . Rajiv . 2015-09-02 . The MartJack Acquisition - Why is it a big deal for Indian Enterprise Software? . 2023-06-12 . LinkedIn.com . en.
  57. Web site: 2015-11-03 . Capillary Technologies Acquires MartJack and Raises $45 Million Investment Round Led by Warburg Pincus . 2023-06-12 . India Technology News . en-US.
  58. News: Ganguly . Payal . 2016-10-04 . Capillary Technologies acquires Sellerworx . The Economic Times . 2016-12-07.
  59. Web site: 2021-09-07 . Capillary Technologies Ramps up Loyalty Game with Acquisition of Persuade . 2023-06-10 . www.businesswire.com . en.
  60. Web site: Customer Loyalty Program Solution Capillary . 2023-06-12 . CapillaryTech . en-US.
  61. Web site: How Capillary Technologies uses GitHub . 2023-06-09 . GitHub . en.
  62. Web site: Staff . Wise Marketer . 2023-05-15 . Capillary Launches AskAira, an AI-Powered Research Assistant for Loyalty Marketers . 2023-06-09 . The Wise Marketer . en-US.
  63. Web site: Writer . MTS Staff . 2023-05-10 . Capillary launches AskAira, an AI-powered research assistant . 2023-06-09 . MarTech Series . en-US.

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