Capillary Technologies, an enterprise software firm, has raised $20 million of investment over the past year with investors including, Warburg Pincus and Sequoia Capital. The company plans to use the investment for product development, specifically around artificial intelligence and machine learning. The company offers cloud based SaaS (Software as a Service) model to retail and consumer goods companies in the country.
Capillary Technologies also plans to invest to build its software for its recently launched consumer products section. The company further provides software for automating marketing campaigns and a complete suite of e-commerce business solutions for consumer brands.
Founded by Aneesh Reddy and Krishna Mehra, IIT alumni, in 2008, the company is an omni-channel engagement and commerce solutions company with presence in South-east Asia. Being registered in Singapore, the company serves over 300 behemoths, including KFC, Wallmart, Starbucks, Samsung, among many others. The company claims to have served over 300 million customers with 25,000 stores on the platform
Commenting on the use of funds raised, Aneesh Reddy, Co-founder and CEO, Capillary Technologies, said, “We have a great partnership with our investors, who continue to believe in our vision and expansion plans. More than 70% of these funds would be devoted to research and development powering all our products with AI. We’re also looking to further strengthen our presence in China and the Middle East, besides penetrating further into Southeast Asia.”
He further added that the company will soon be opening up its second office in Guangzhou China and further plans to establish another office in the capital.
The company had first raised around $17 million in Series A, back in 2012, in the same year it also raised an undisclosed amount of investment from American Express. In 2014 the company raised another $14 million. While the following year, 2015, the company secured over $45 million in a round with investors including, PE firm, Warburg Pincus, Northwest Ventures and Sequoia Capital