IT firm Capillary Technologies today said it has closed a USD 45 million (about Rs 297 crore) of funding, led by an affiliate of private equity firm Warburg Pincus.
The Series C round of financing also saw participation from existing investors Sequoia Capital and Norwest Venture Partners, it said in a statement.
The Singapore-based Capillary will use the capital infusion to expand its offerings, both organically and inorganically, it added.
The company has also acquired MartJack, an Asian multi channel commerce provider.
MartJack serves over 250 companies, including major global brands like Walmart, Unilever, Future Group, Lulu, Clarks, Body Shop and Aramex.
“This funding round validates our model and vision of enabling retailers to harness the power of the cloud. It also puts us on the path to being one of Asia’s true product bellwethers,” Capillary Technologies co-founder and CEO Aneesh Reddy said.
Capillary’s platform offers a one-stop solution to retail marketers to engage with their customers by capturing and analysing customer data and enabling targeted customer communications to increase loyalty and engagement.
Its customers include Pizza Hut, KFC, Puma, United Colors of Benetton, Pantaloons, Arvind Brands and Madura Garments.
“The retail sector in Asia is undergoing a significant transformation, as organised retail develops in tandem with e-commerce, and as retailers invest in tools to drive consumer loyalty and retention across online and offline channels,” Warburg Pincus MD Nitin Nayar said.
Warburg believes that the company is well-positioned to further build on its strengths and successes, he added.