Capillary Technologies Boosts Series D Funding to $140 Million

• ByStartupStory     |    February 27, 2024

Capillary Technologies, a SaaS startup based in Singapore, has augmented its Series D round to $140 million, allocating $20 million for employee stock ownership plan (ESOP) payouts. The infusion of fresh funding aims to drive AI initiatives, particularly in generative loyalty, and facilitate global expansion. “Our employees are the backbone of Capillary’s success, and we are dedicated to rewarding their hard work and dedication,” affirmed Aneesh Reddy, Founder & MD of Capillary Technologies.

The company’s Series D round, initially raised at $45 million in June last year, has now surged to over three times its original size, courtesy of the same group of investors led by Avataar Venture Partners. Other investors include Pantheon Ventures, 57Stars, Unigestion, Filter Capital, and Innoven Capital.

Capillary Technologies has experienced significant growth in the United States, with its expansion multiplying fourfold over the past three years. “As an investor, we believe in the company’s vision and are confident in its ability to disrupt the customer loyalty space,” expressed Mohan Kumar, Managing Partner at Avataar Ventures.

Capillary’s commitment to employee ownership aligns with its ethos of fostering a culture of ownership and accountability within the organization. Notably, the startup is backed by renowned investors such as Sequoia Capital and Warburg Pincus. “The expanded Series D funding and commitment to employee ownership reflect Capillary’s strong leadership and potential for long-term success,” remarked Mohan Kumar.

According to Tracxn, Capillary Technologies has secured a cumulative funding of $100 million across eight rounds. Last year, the company furthered its expansion through the acquisition of US-based Brierley, marking its fifth acquisition globally and second in the United States. This strategic move complements its previous acquisitions, including Persuade, Sellerworx, Ruaha Technology Labs, and Martjack.

Established in 2012, Capillary Technologies specializes in providing customer loyalty and engagement solutions, catering to a diverse clientele spanning the United States, Asia, Europe, and the Middle East. Notable brands in its portfolio include Tata Group, PUMA, Shell, Petron, Domino’s, Kanmo Group, and Marks & Spencer.

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