Customer analytics marketing platform developer capillary technologies have raised $20 million funding throughout the year from its existing investors Warburg Pincus, Sequoia Capital and others. The funding round also saw the secondary sale of around $2.5 million to US-based Lime Rock Partners.
In 2008, the Singapore based company was founded by Ajay Modani,Aneesh Reddy, andKrishna Mehra. The company develops cloud-based customer analytics marketing platform for retailers and consumer businesses. It offers loyalty, client, social consumer relationship management, back-end analytics, and multichannel campaign management solutions. The company plans to use the raised funding to improve its product offering and its technology.
Reddy said, We are not burning a lot of money. You will only see smaller and smaller rounds as we move closer to profitability. In this case, we felt it will make sense to do internal. There is a small secondary of around $ 2.5 million. This has gone mostly to employees and early angels, who have been bought out.
The company plans to use the 70 per cent of the funding for RD of their AI products so that they can provide enhanced products to its customers. The company also wish to open another office in China at Guangzhou by this year.
Vikram Chogle, Principal, 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 products capacity to deliver a superior value proposition to a customer base with an unmet need. Since Warburg Pincus' initial investment, Capillary has established a clear leadership position in the market.