Capillary Technologies has secured approximately $20 million over the past year from its existing investors, including Warburg Pincus and Sequoia Capital. With these funds, Capillary expects to strengthen its new product development, with technologies such as machine learning, catering to Asia and other emerging markets.
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.
In a statement, CEO Aneesh Reddy said that more than 70% of these funds would be used in research and development of its products. And, that Capillary is looking to strengthen its presence in China and the Middle East, besides penetrating further into Southeast Asia. The company will soon be opening its second office in China, and another one is expected in Beijing later this year.
The company is also exploring other verticals than retail, and said that it will be expanding into adjacent industry – Consumer Goods (FMCG).
The company claims to work with 300 brands across 30 countries, including Pizza Hut, VF Brands, Walmart, Al-Futtaim, KFC, Starbucks, Madura Garments, Courts and Samsung etc.
Previous Funding and highlights
Last year in September, Capillary Technologies had led pre-Series A round of undisclosed funding in an offline-to-online fashion store, Fashalot. In terms of funding, the company had last secured $3 million in September 2016 from InnoVen Capital, before that in 2015, Capillary had raised Rs 300 crore in a funding from Warburg Pincus, Sequoia Capital and Norwest Venture Partners.