Avataar wholeheartedly supports Capillary aim to be global market leader
Bengaluru startup Capillary Technologies says the Series D US$45 million, raised from a consortium of global investors – Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital and Innoven Capital – is for global expansion as well as mergers and acquisitions strategy.
Capillary Technologies’ Founder and MD, Aneesh Reddy said on 1 Jun 2023, “With this new funding, we are poised to expand our footprint in North America and Europe and pursue strategic acquisitions that align with our vision of becoming the preeminent loyalty company globally.”
Speaking about the investment, Sameer Garde, CEO of Capillary Technologies, elaborated, “This funding will enable us to extend our reach and capabilities to deliver exceptional customer loyalty experiences to a broader range of businesses across diverse markets.”
Mohan Kumar, Managing Partner at Avataar Ventures, said, “The strategic decision to diversify from Asia into the US and Europe, encompassing various consumer verticals beyond retail, has been nothing short of impressive.
“This move has catapulted Capillary into a leadership position in Loyalty software and this has been recognized by external mentions like the Forrester Wave. Given the expanded addressable market and the immense potential that lies ahead, Avataar is wholeheartedly committed to supporting Capillary in its pursuit to become a global market leader.”
Over the past few years, the company has achieved remarkable success as enterprise brands worldwide increasingly prioritize customer loyalty to enhance retention rates and decrease customer acquisition costs.
Notably, Capillary Technologies witnessed exceptional growth in the United States, expanding 3.5 times since the acquisition of Persuade in 2021. The US now accounts for more than a third of Capillary’s revenue.
The company also solidified its position through the acquisition of Texas-based Brierley, a global leader in loyalty.
Furthermore, Capillary Technologies received recognition as a Leader on the Forrester Wave for Loyalty Technology Solutions earlier this year. These accomplishments, coupled with ongoing developments, position the company on a trajectory to become the foremost loyalty technology company globally.
Founded in 2012, Capillary Technologies has a presence across the United States, India, the Middle East, and Asia, in particular, South East Asia. It is working with 250+ enterprise brands touching more than 1 billion customers across the globe. Fiinews.com
