04 October 2016, India :
Capillary Technologies, an Omni-channel Engagement and Commerce Platform company, today announced that it has acquired Sellerworx, to fortify its omni-channel product portfolio.
Capillary was started by Krishna Mehra, Aneesh Reddy and Ajay Modani in 2008. The three co-founders are alumni of Indian Institute of Technology, Kharagpur.
Speaking on the acquisition, Aneesh Reddy, CEO and Co-founder, Capillary Technologies, commented, “Omni-channel retail should be about $1 trillion market in Asia by 2018. We are an Asia-focused Omni-channel Engagement and Commerce Platform company bellwether committed to solve the present and future problems (opportunities) for retailers and brands. Our aim is to help our clients increase online revenue channels alongside the offline business growth we currently help with. A year ago we had a bunch of products in consumer engagement space. We acquired MartJack to help brands to go omni-channel. We have done better than expected in this possibility with multimillion $ revenue addition in a year’s time.
Flipkarts and Amazons continue to grow and they are an integral part of online sales strategy for our customers. Of late we realized to complete the puzzle, an omni-channel order and marketplace management product is much needed. We weighed different options to build v/s buy. To go full steam in the burgeoning market, “time to market” is key and we wanted to launch this product as quickly as we can. On other hand, we evaluated Sellerworx product and met the team who has tremendous knowledge in this space. Finally, we have decided to acquire Sellerworx!” he added.
Venkat Potluri, CEO and Co-founder, Sellerworx, echoed, “Capillary-Sellerworx is a great match of vision, culture and product proposition. This unique combination helps us fully meet requirements of enterprises in building integrated, scalable and robust omni-channel businesses. With Capillary’s enviable list of customers, the acquisition will help Sellerworx accelerate deployment of its products across countries enabling businesses leverage demand generation ability of online marketplaces.”
Sellerworx is an omni-channel order and marketplace management product company enabling brands and retailers to become successful online marketplaces. The company provides retailers cloud-based software and e-commerce business incubation and support. It helps retailers to sell online. Sellerworx was funded in 2015 by Axilor Ventures through its Early Stage Funding programme.