Capillary Technologies, a cloud-based software solutions company, has raised $20 million in funding from existing investors which include Warburg Pincus and Sequoia Capital, according to a statement from the company.
Capillary Technologies, a cloud-based software solutions company, has raised $20 million in funding from existing investors which include Warburg Pincus and Sequoia Capital, according to a statement from the company. The funds raised will be used towards new product development for catering to Asia and other upcoming emerging markets. It also plans to invest in the newly launched consumer goods vertical. Capillary Technologies provides customer relationship management (CRM) software to various industry verticals, including to global companies such as Pizza Hut, Walmart, Samsung and Starbucks. Capillary Technologies co-founder and CEO Aneesh Reddy said: “More than 70% of these funds would be devoted to research and development powering all our products with artificial intelligence (AI). We’re also looking to further strengthen our presence in China and West Asia, besides penetrating further into Southeast Asia.” The company registered in Singapore has offices across India. It will also be opening its second office in China at Guangzhou and yet another in Beijing later this year.
“We are well poised with our solutions and innovations to help the consumer goods brands reach and effectively engage with their customers (retailers) and end consumers through digitisation,” Reddy said. Founded in 2008, Capillary said its solutions are used by more than 300 brands across 25,000 stores in over 30 countries.
Commenting on the investment, Vikram Chogle, principal at Warburg Pincus, said: “There were two key elements of the opportunity that caught our attention at the time of Warburg Pincus’ first investment in Capillary — the ability to back a talented and passionate entrepreneur in Aneesh, and the core Capillary product’s capacity to deliver a superior value proposition to a customer base with an unmet need.”