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Capillary raises Rs 300 crore from Warburg Pincus and others

capillary

Capillary, a cloud-based customer relationship manager platform, has raised Rs 300 crore ($45 million) in a new round of funding led by private equity firm Warburg Pincus, reports TechCircle. Existing investors Sequoia Capital and Norwest Venture Partners have also participated in the round.

An Economic Times report added that Capillary had used a significant portion of the funding to buy digital commerce solution provider MartJack and machine learning startup Ruaha Labs. It has also picked up a minority stake in CloudCherry, a customer satisfaction management firm.

Interestingly, an earlier report by the Economic Times in April had said that Capillary had raised a loan of Rs 15 crore for the acquisition of MartJack. At the time, a filing with the Ministry of Corporate Affairs had said 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%.

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.

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.

Earlier funding

– 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.

– In 2012, Capillary had raised $15.5 million from investors, including Sequoia Capital, Norwest Venture Partners and Qualcomm Ventures.

Competition

– In August, Gurgaon-based RedCarpet, a rewards and product discovery application which allows people to to find products online and order them for pickup in-store in kirana stores throughout India, graduated Silicon Valley accelerator Y Combinator’s Summer 2015 batch.

– In June 2014, Mobile based CRM company, Helpshift raised $10 million in a Series A funding from Intel Capital, Visionaire Ventures and existing investors, True Ventures and Nexus Venture Partners.

– In the same month, TO THE NEW Group’s digital marketing agency Ignitee Digital launched a new integrated social CRM offering called Social IQ, which claims to allow brand acquire, grow and retain customers through social media channels.

– Delhi-based startup CRMNext raised Rs 42 crore in funding from Norwest Venture Partners in May last year. CRMNext offers a cloud-based customer relationship management solution and covers processes across sales force automation, customer service management, social CRM and knowledge management.

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