Capillary Technologies, a loyalty management and customer engagement technology solutions, has announced the closure of its Series D funding round worth $45 million from a consortium of global investors – Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital.
With the latest financing, the company has raised nearly $150 million to date, including a $20 million round in February 2018. The fresh capital will help Capillary Technologies’ global expansion efforts and support its mergers and acquisitions strategy, the company said in a press release.
Backed by the likes of Warburg Pincus and Sequoia Capital, Capillary is an end-to-end customer loyalty platform that offers a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalized, and consistent experience for customers. The decade-old company has a presence across the United States, India, the Middle East, and Asia, in particular, South East Asia.
The company works with more than 100 loyalty programs, and over 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim, Petron, Domino’s, Kanmo Group, and Marks & Spencer.
According to Capillary, it has achieved remarkable success as enterprise brands worldwide increasingly prioritize customer loyalty to enhance retention rates and decrease customer acquisition costs. In the United States, it claims to have expanded 3.5 times since the acquisition of Persuade in 2021. The US now accounts for more than a third of Capillary’s revenue. Earlier this year, it also acquired Texas-headquartered Brierley+Partners.
While Capillary did not disclose its latest revenue, its revenue from operations in India grew 42% to Rs 163.3 crore in FY22. The company made losses during the same period against profit in FY21. Its standalone losses stood at Rs 22.2 crore in FY22.
