With $20 million set aside for Employee Stock Ownership Plan (ESOP) payouts, Capillary Technologies today announced the expansion of its Series D round to $140 million.
Capillary’s AI initiatives (generative loyalty) will be fueled by the additional funding, which will also expedite the company’s global expansion and solidify its leadership position in the customer loyalty SaaS solutions market.
Capillary Technologies, a provider of technology solutions for customer loyalty and engagement, is expected to raise $90-100 million in a secondary round of funding, people familiar with the matter told the media.
“Existing investors are selling their stakes in Capillary and this is an extension to the previous round,” said one of the sources.
Capillary announced in June 2023 that it had closed its $45 million series D round from Avataar Ventures, Filter Capital, Innoven Capital, and its LPs (Pantheon, 57Stars, and Unigestion).
Customers can receive a real-time, omnichannel, personalized, and consistent experience from Capillary thanks to its comprehensive view of the market and unified, cross-channel strategies. It is present in the Middle East, Asia, the United States, India, and other places.
The company, which was founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, collaborates with more than 250 brands, including Tata, PUMA, Shell, and Al-Futtaim, and operates with over 100 loyalty programs.
Sources indicate that Capillary will probably close this deal shortly.
Capillary did not respond to queries sent to it right away. If we hear back from them, we’ll update the story.
Capillary had previously stated that over one-third of its revenue comes from the US. Three US businesses were also purchased by the company: Persuade, Brierley+Partners, and Tenerity’s Digital Connect.
Capillary reported operating revenue of Rs 223 crore in FY22, but it has not yet released its FY23 financial results. The company’s losses for FY22 increased as well, from Rs 22.8 crore to Rs 100 crore.
