Capillary Technologies, a provider of cloud-based software solution for retailing business, has secured $45 million in Series C round of funding led by an affiliate of PE firm Warburg Pincus along with existing investors Sequoia Capital and Norwest Venture Partners.
Founded in 2008, Capillary Technologies provides a cloud-based platform which leverages end-to-end customer engagement, loyalty and social CRM solutions for more than 170 big brands that includes Pizza Hut, KFC, Puma, Pantaloons, Bata and many more and across 20,000 stores. It has been serving more than 150 million consumers mainly targeting at Asia that consists of India, South East Asia, China and Middle East. There has been an approximate increase of 10% in the same-store sales after the implementing Capillary’s software solution in the business. The company’s solution bring about a combination of consumer enrollment, back-end analytics and campaign management to drive consumer engagement over major channel like in-store, mobile and e-mail.
“Warburg Pincus need no introduction for the kind of strategic direction and commitment they bring to the table, in addition to the investment. This funding round validates our model and vision of enabling retailer to harness the power of the cloud and to provide a deeper connect for consumers across channels. It also puts us on the path to being one of Asia’s true product bellwethers, which will establish us as a strong contender on the global map of Enterprise SaaS solutions,” said Aneesh Reddy, co-founder and CEO of Capillary Technologies.
With the new infused cash, Capillary plans to widen its offerings to allow clients to build an omni-channel view of their customers, both organically by expanding its product suite, as well as inorganically through the buying MartJack which is Asia’s leading Multi Channel Commerce provider. With the increase in the SaaS offerings of the company, Capillary would now compete against big companies like Oracle, SAP and Salesforce.
“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,” said Warburg Pincus’s managing director Nitin Nayar.