Warburg Pincus leads round for India's Capillary Technologies
Warburg Pincus has led a $45 million Series C round of funding for Capillary Technologies, an Indian cloud-based software provider that focuses on customer relationship management (CRM) solutions.
Existing investors Sequoia Capital and Norwest Venture Partners also participated. It takes the total capital raised by Capillary past $75 million, including Series A and B rounds led by Sequoia and Norwest in 2012 and 2014, respectively.
Founded in Bangalore in 2008 by Aneesh Reddy and Krishna Mehra, 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 170 brands across 20,000 stores, and serving over 150 million consumers primarily in Asia.
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 new funding will go towards expand Capillary's services, both organically by broadening the product suite, and inorganically through the acquisitions. It recently purchased MartJack, which uses a cloud-based platform to develop online storefronts for companies and facilitate e-commerce. MartJack works with more than 250 companies in Asia.
"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 Reddy, Capillary has emerged as a preferred partner for retailers throughout emerging Asia as they navigate this evolving industry landscape," Nitin Nayar, managing director of Warburg Pincus, said in a statement.
The private equity firm has made several forays into India's technology sector, backing the likes of online automotive classifieds platform CarTrade, e-commerce logistics start-up Ecom Express, and classifieds site Quikr.
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