Bengaluru: More and more enterprises are adopting cloud technology for their data management services and this seems to have made the investors keener in investing in the cloud-based startups. A new addition to this line is Capillary Technologies, a cloud-based software solution provider that enables the retails to engage with their customers. The company has raised $45 million in its Series C funding round led by Warburg Pincus. Its existing investors – Sequoia Capital and Norwest Venture Partners also made significant contributions to this financing round. The Bengaluru-based startup has already used a significant portion of the raised funds to acquire two technology ventures – MartJack, digital commerce solution provider and Ruaha Labs, a machine learning startup. It has also picked a minority stake in CloudCherry, a customer management firm. Prior to this, the company had raised $14 million in its Series B fundraising from Norwest Venture Partners - NVP & Sequoia Capital and $15 million in its Series A fundraising from Norwest Venture Partners, Qualcom Ventures & Sequoia Capital in July 2014 and September 2012 respectively.
“Warburg Pincus needs no introduction for the kind of strategic direction and commitment they bring to the table, in addition to the investment. This funding round validates our model and vision of enabling retailers to harness the power of the cloud and to provide a deeper connect for consumers across channels. It also puts us on the path to being one of Asia’s true product bellwethers, which will establish us as a strong contender on the global map of Enterprise SaaS solutions,” says Aneesh Reddy, Co-Founder & CEO, Capillary Technologies.
Speaking about their new investment, Nitin Nayar, Managing Director, Warburg Pincus says, “The retail sector in Asia is undergoing a significant transformation, as organized retail develops in tandem with e-Commerce, and as retailers invest in tools to drive consumer loyalty and retention across online and offline channels. Under the leadership of Aneesh, Capillary has emerged as a preferred partner for retailers throughout emerging Asia as they navigate this evolving industry landscape. We are excited about partnering with a very talented management team with deep domain expertise, and believe that the company is well-positioned to further build on its strengths and successes”.
Established in 2008 by IIT-Kharagpur alumni – Aneesh Reddy, Krishna Mehra and Ajay Modani, Capillary Technologies develops and provides cloud-based analytics to retailers and consumer businesses. Its services include social consumer relationship management, back-end analytics and multi-channel campaign management solutions. The company’s flagship products are InTouch – a cloud-based retail consumer engagement and loyalty solution –and Capillary InStore, which collects and analyzes data on consumer’s behavior and their preferences in shopping through social, email and mobile channels. The company claims to have VLCC, Nike, Puma, Raymond, Peter England, Pizza Hut, Marks & Spencer and many other well-known companies in its clients’ portfolio.