SaaS Customer Relationship Management firm Capillary Technologies has acquired MartJack, a digital commerce solution company owned by Reasoning Global, reports ET Tech. For the acquisition, Capillary has raised a loan of Rs 15 crore. Capillary is planning to use MartJack’s technology to personalise customer engagement across channels. Essentially, both Capillary and MartJack function in similar spaces with Capillary offering cloud solutions for retail marketers while MartJack offers an e-commerce platform for retailers.
The ET report mentioned that a recent filing with the Ministry of Corporate Affairs revealed that Capillary had passed a shareholder resolution in February this year to borrow ~ Rs 9 crore through a term loan from SVB India Finance at a yearly interest of 15.15%. Capillary had raised Rs 84 crore led by existing investors Sequoia Capital and Norwest Venture Partners in July last year.
Capillary had also received an investment of ~ Rs 28 crore from American Express. In January last year, both the companies had signed a joint marketing agreement through which American Express would introduce Capillary’s customer engagement solutions to select medium-sized retail merchants in the US. This solution allowed merchants to engage with their customers across in-store, social media, e-mail, local and mobile channels to increase shopper loyalty. In 2012, Capillary had raised $15.5 million from investors, including Sequoia Capital, Norwest Venture Partners and Qualcomm Ventures.
Founded by Aneesh Reddy and Krishna Mehra in 2008, Capillary Technologies provides cloud-based software solutions for retail marketers to manage and analyze customer data and insights for personalisation on various platforms. Capillary had tied with Singtel subsidiary and IT services provider NCS last month to provide SaaS solutions for NCS. Reasoning Global, which runs MartJack, was founded by Abhay Deshpande. MartJack provides an e-commerce platform for retailers across mobile, internet and physical kiosks. This solution also integrates with third party systems and apps providing reporting and analytics.
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