Capillary Technologies Raises USD 95 Mn in Secondary Deals and Expands Series D to USD 140 Mn The startup will use the fresh funds to fuel AI initiatives (generative loyalty) and global expansion.
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SaaS startup Capillary Technologies has revealed the expansion of its Series D round to USD 140 million, with USD 20 million set aside for Employee Stock Ownership Plan (ESOP) payouts.
Around the middle of last year, the startup had received USD 45 million in this round that included USD 39 million in equity and USD 6 million in debt. From the same group of investors, led by Avataar Ventures Partners, the fund has now more than tripled in size.
The additional funding will be used to fuel its internal generative artificial intelligence (GenAI) initiatives and partnerships, as well as to accelerate its global expansion.
The startup claims to have remarkable growth in the United States, having expanded four times in the past three years.
Aneesh Reddy, Founder and MD, Capillary Technologies, said, "Our employees are the backbone of Capillary's success, and we are dedicated to rewarding their hard work and dedication. The ESOP allocation reflects our commitment to fostering a culture of ownership and accountability within our organisation."
Founded in 2012, Capillary Technologies specialises in providing customer loyalty and engagement solutions, with a presence across the United States, Asia, Europe, and the Middle East. It claims to work with brands like Tata, PUMA, Shell, Petron, Domino's, Kanmo Group, and Marks & Spencer.
Mohan Kumar, Managing Partner at Avataar Ventures said, "As an investor, we believe in the company's vision and are confident in its ability to disrupt the customer loyalty space. The expanded Series D funding and commitment to employee ownership reflect Capillary's strong leadership and potential for long-term success."
