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Capillary Technologies
SaaS technology company From Wikipedia, the free encyclopedia
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Capillary Technologies is a multinational SaaS technology company. Its primary product is the cloud-based customer loyalty/customer engagement and e-commerce platform, Intelligent Loyalty. Capillary also offers loyalty and other marketing consulting services.
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Capillary Technologies was founded in Bengaluru in 2008, and is headquartered in Singapore.
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History
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Perspective
Capillary Technologies was founded in August 2008 by Aneesh Reddy,[4] Krishna Mehra, and Ajay Modani and initially headquartered in Bengaluru, India.[5][6][1]
In 2013, Capillary Technologies was used as a case study for "reverse innovation" published in Harvard Business Review.[7]
Capillary acquired the e-commerce software platform MartJack in September 2015, supported by a $45 million funding led by Warburg Pincus.[8][9][10][11][12]
The company began expanding operations into China in July 2016.[13] In October 2016, Capillary acquired SellerWorx, an e-commerce services and technology company.[14]
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.[15][16]
In September 2019, Capillary partnered with Veda Holding, a Saudi investment holding company,[17] to operate a Saudi-specific entity called Capillary Arabia.[17][18][19]
In 2021, Capillary acquired Persuade, a U.S. loyalty platform provider.[20]
Co-founder Aneesh Reddy operated as chief executive officer (CEO) of Capillary Technologies until 2022.[21] In September 2022, Capillary Technologies announced that Sameer Garde would take over as the company's CEO and Reddy would transition to managing director.[22] Garde resigned as CEO in March 2024 "due to personal reasons," and Reddy returned to the company's role as CEO.[23]
In April 2023, Capillary acquired acquired Brierley+Partners (known generally as Brierley), a loyalty agency and platform provider based in Frisco, Texas.[24][25][26][27] In June 2023, Capillary announced it had acquired the Digital Connect technology assets of Tenerity, a US-based engagement and rewards platform provider.[28][29][30][31][32]
Funding
Capillary Technologies has raised multiple rounds of funding from investors since its inception.
- 2009: Capillary received $100,000 from the QPrize Business Plan Competition by Qualcomm.[33]
- Sep 2012: Capillary raised $15.5 million from Sequoia Capital, Norwest Venture Partners & Qualcomm.[34][35][36][37]
- Feb 2014: Capillary received $4 million from American Express in February 2014.[38][39]
- Sep 2015: Capillary raised $45 million from Warburg Pincus, Sequoia Capital, and Norwest Venture Partners.[40]
- Feb 2018: Capillary announced it raised $20 million in several tranches in 2017 and 2018 from existing investors Warburg Pincus and Sequoia Capital.[41]
- Dec 2021: Capillary Technologies India filed draft papers to raise Rs 850 crore (approximately $103.1 million) through public issue.[42][43]
- May 2023: Capillary raised $45 million from Avataar Ventures along with its limited partners (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital.[44][45]
- Feb 2024: Capillary raised $95 million in secondary deals.[46][47][48]
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Platform
Capillary Technologies' primary product is its cloud-based SaaS platform Intelligent Loyalty.[49] The Intelligent Loyalty platform includes modules with features for loyalty programs, customer engagement, and data analytics.[28][29]
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.[50]
In 2023, Capillary launched AskAira, an AI-powered research assistant, as part of its loyalty platform. AskAira utilizes OpenAI's generative AI language models.[51][52]
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References
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