21 February 2018, India:
Software Solutions firm Capillary Technologies has raised $20 million over the past year from existing investors Warburg Pincus, Sequoia Capital and others.
Capillary Technologies will use these funds to strengthen its new product development, powered by Artificial Intelligence and Machine Learning. The company will also launch a new vertical on customer goods.
Aneesh Reddy, CEO, Capillary Technologies said, “We have a great partnership with our investors, who continue to believe in our vision and expansion plans. More than 70% of these funds would be devoted to research and development powering all our products with AI. We’re also looking to further strengthen our presence in China and the Middle East, besides penetrating further into Southeast Asia.”
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 product’s 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.”
Capillary Technologies was founded by Aneesh Reddy and Krishna Mehra in 2008. It provides cloud-based Omnichannel Customer Engagement, eCommerce platform and related services for retailers and brands. The company claims to work with 300 brands across 30 countries.
(Image – thetechbulletin.com)
