Warburg, Sequoia join $20m investment in India's Capillary
Capillary Technologies, an Indian cloud-based software provider that focuses on customer relationship management (CRM), has raised $20 million from existing investors including Warburg Pincus and Sequoia Capital.
The company has now raised over $101 million. It completed a Series C round of $45 million in 2015 led by Warburg Pincus, with participation from Sequoia Capital India and Norwest Venture Partners. The company’s Series A and B rounds in 2012 and 2014 were led by Sequoia and Norwest, respectively. Capillary has also sourced venture debt funding from InnoVen Capital.
The latest investment includes a $2.5 million secondary sale to LionRock Capital, which facilitates an exit for mostly employees and angel investors, CEO Aneesh Reddy told The Economic Times.
Nearly two-thirds of the $20 million will be used to develop artificial intelligence-enabled products and to support the launch of a consumer goods vertical. The company is also looking to strengthen its presence in the Middle East and China – offices in Guangzhou and Beijing are set to open this year – and expand further into Southeast Asia, according to a statement.
Founded in 2008 by Reddy and Krishna Mehra (who has since left the company), Capillary initially relied on angel funding before it won the QPrize, a seed competition run by Qualcomm Ventures, which led to its first institutional round. The company specializes in end-to-end customer engagement, loyalty and CRM solutions, working with more than 300 brands across 30,000 stores in 30 countries, and serving over 250 million consumers. It has 11 offices globally and 700 employees.
Its platform can integrate into virtually any point-of-sale device and captures and analyzes consumer data, enabling retail marketers to develop more customized customer engagement, including personalized offers delivered in real time. The company works with the likes of Pizza Hut, Samsung, Walmart, McDonald’s, and Unilever.
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