Capillary Technologies Secures $45 Million in Series D

by Kay Aloha Villamor in June 1st, 2023

Capillary Technologies, an India-based SaaS startup specializing in loyalty management and customer engagement solutions, secured $45 million in a Series D funding round.

The funding consists of $40 million in equity and approximately $5-$7 million in debt. With this latest investment, Capillary Technologies has raised nearly $150 million in capital to date.

The round was led by Avataar Ventures and its LPs Pantheon, 57Stars, and Unigestion. Other investors, such as Filter Capital and Innoven Capital, also contributed to the round.

The funding will be utilized to expand the company's presence in the U.S. and Europe by actively pursuing strategic acquisitions, in line with their growth strategy.

“The way most of our competitors in the U.S. and elsewhere have built in as like a services business where customers ask you something, and you build it. On the other hand, we have taken a very product view to it,” Capillary Technologies Founder and Managing Director Aneesh Reddy said in an interview.

Capillary Technologies' suite of technology-driven, cloud-native solutions has attracted a wide range of clients. It has collaborated with over 250 brands across 30 countries, powering over 100 loyalty programs.

Some notable clients of Capillary include Domino's, Tata Group, Puma, Shell, Petron, and Marks & Spencer. Capillary's technology reaches over a billion customers and facilitates more than 5 billion transactions annually.

Company: Capillary Technologies India Private Limited

Raised: $45.0M

Round: Series D

Funding Month: June 2023

Lead Investors: Avataar Ventures, LPs Pantheon, 57Stars, and Unigestion

Additional Investors: Filter Capital and Innoven Capital

Company Website:

Software Category: Consumer Loyalty and Engagement Solutions

About the Company: Founded in 2012, Capillary Technologies is a technology company that delivers AI-based cloud-native SaaS programs and solutions. It offers end-to-end loyalty programs, a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalized, and consistent experience for customers. The SaaS platform helps brands across industries digitally transform and improve consumer engagement. Capillary has a headcount of over 750 people, including 200 contractors, and has offices in Dubai, Indonesia, Malaysia, and Singapore, apart from India and the U.S. It counts Sequoia Capital and Warburg Pincus among its existing backers.


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