The acquisition will help Capillary expand its customer loyalty platform, upscale business and enhance product capabilities as well as partnership networks
The deal will further enable Capillary to deliver exponential value to its enterprise clientele, thus, helping brands improve customer engagement and loyalty
It is important to note that Brierley is the fifth acquisition of Capillary till date
SaaS startup Capillary Technologies has acquired US-based Brierley for an undisclosed amount.
The acquisition will help Capillary expand its customer loyalty platform, upscale business and enhance product capabilities as well as partnership networks.
The acquisition will further enable Capillary to deliver exponential value to its enterprise clientele, thus, helping them improve customer engagement and loyalty.
It is prudent to note that Brierley is the fifth acquisition of Capillary till date. Before Brierley, it acquired Persuade, SellerworX, MartJack and ML platform Ruaha. Besides, it holds minority stakes in Exclusife and WebEngage.
Capillary, founded in 2008 by Aneesh Reddy and Krishna Mehra, offers customer loyalty programs to global brands. It primarily helps ecommerce companies and omnichannel-focussed businesses enhance their customer engagement.
The Bengaluru-based startup claims to have a strong presence in the US, India, the Middle East and Southeast Asia. Capillary further asserts that it has worked with more than 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim, Petron, Domino’s, Kanmo Group, and Marks & Spencer.
Further, it claims to have processed more than 5 Bn transactions annually. Capillary’s backers include Warburg Pincus, Sequoia Capital, Avataar Ventures, American Express Ventures, Norwest Venture Partners and Filter Capital.
“This is a monumental milestone in Capillary’s journey as we acquire one of the most reputed companies in the global loyalty space. Brierley+Partners has some of the best people in the loyalty space and combining forces with the firm will help take Capillary’s offering to the next level, especially in the North American and Japanese markets,” said Aneesh Reddy, founder and vice chairman at Capillary Technologies.
In FY22, Capillary’s operating revenue surged by over 42% to INR 163.3 Cr as opposed to INR 114.9 Cr gained in the previous fiscal year.
Notably, in December 2021, it filed its draft red herring prospectus (DRHP) for an INR 850 Cr initial public offering (IPO) with SEBI.
On the other hand, Brierley, founded in 1984 by Harold M, offers customer-centric loyalty programs to companies.
Essentially, Brierley uses customer insights to build strategies and creative customer loyalty programs for businesses.
“We are thrilled to be joining Capillary Technologies. We believe that our combined expertise will enable us to provide our clients with even more innovative and effective loyalty and customer engagement solutions through Capillary’s next-generation SaaS platform. We are excited to work together to help our clients build stronger, more meaningful relationships with their customers,” said Bill Swift, CEO of Brierley.
It counts London-based venture capital fund WPP Ventures as its only investor.
In India, Capillary competes with the likes of CleverTap, Amplitude and Twilio, among others.
As per a Statista report, India’s SaaS market is expected to grow by 10.87% during 2023-27, becoming a $3.35 Bn space by 2027.