Capillary Technologies, an Indian software-as-a-service (SaaS) startup, recently secured $45 million in funding. The company specializes in providing loyalty management and customer engagement solutions. With this investment, Capillary Technologies aims to pursue global expansion and enhance its market presence.
The funding comes at a crucial moment during a market slowdown when startups, especially those in the later stages, are struggling to secure enough capital.
Capillary completed its Series D funding round, which was spearheaded by Avataar Ventures and included prominent investors such as 57Stars, Unigestion and Pantheon. Innoven and Filter Capital also joined in this funding round.
The funding round consists of $40 million in equity and approximately $5-7 million in debt. With this new investment, the startup has now accumulated nearly $150 million in total capital raised so far.
Capillary Technologies, a startup originating from Bengaluru, was established in 2012 with a primary focus on the retail industry in Southeast Asia and India. Over time, the company has expanded its services to encompass a wider range of markets, including South Africa, Middle East, and the US.
Capillary Technologies’ innovative cloud-based solutions have proven to be immensely successful in attracting a wide range of clients. It has already established partnerships with over 250 high profile brands. Some of them are Puma, Tata Group, Petron, Shell, Marks and Spencers, Domino’s etc. This company has connected with over a billion customers and facilitated over 5 billion transactions every year.
Capillary currently employs more than 750 individuals, which includes 200 contractors. Their offices span across various locations such as Indonesia, Dubai, India, Malaysia, US and Singapore.