Capillary Technologies’ Series D round expands to $140 million; $20 million allocated for ESOP Payout


Bengaluru, India & Dallas, USA – February 27, 2024

Capillary Technologies, a leading global provider of customer loyalty and engagement solutions, announced today the expansion of its Series D round to $140 million, with $20 million earmarked for Employee Stock Ownership Plan (ESOP) payouts. This significant increase underscores the company’s continued growth trajectory and investor confidence in its strategic vision.

Capillary’s initial Series D round, which raised $45 million, has now more than tripled in size from the same set of investors led by Avataar Ventures. This reflects the company’s robust performance and market potential. The additional funding will fuel Capillary’s AI initiatives(generative loyalty), accelerate global expansion, and further strengthen its position as a pioneer in customer loyalty SaaS solutions space.

Founder & MD, Aneesh Reddy emphasized the company’s commitment to empowering its employees through the ESOP payout, stating, “Our employees are the backbone of Capillary’s success, and we are dedicated to rewarding their hard work and dedication. The ESOP allocation reflects our commitment to fostering a culture of ownership and accountability within our organization.”

Mohan Kumar, Managing Partner at Avataar Ventures said, “We are excited to see Capillary Technologies’ continued growth and innovation. As an investor, we believe in the company’s vision and are confident in its ability to disrupt the customer loyalty space. The expanded Series D funding and commitment to employee ownership reflect Capillary’s strong leadership and potential for long-term success.”

In addition to the funding announcement, Capillary Technologies highlighted its remarkable growth in the United States, having expanded fourfold in the past three years. This achievement underscores the company’s growing footprint in key international markets and its ability to meet the evolving needs of global brands.

With a steadfast commitment to innovation, customer success, and employee empowerment, Capillary Technologies is poised for continued growth and leadership in the landscape of customer loyalty and engagement solutions for global enterprise brands.

About Capillary Technologies: Capillary Technologies is a managed SaaS solution powering 500+ loyalty programs with its best-in-class loyalty technology platform and expert services. Founded in 2012, Capillary has a strong global presence across the United States, Asia, Europe and the Middle East working with 400+ brands like Tata, PUMA, Shell, Petron, Domino’s, Kanmo Group, and Marks & Spencer. The platform’s suite of products – Loyalty+, Engage+, Rewards+, Insights+; are all AI-powered and sit on top of a powerful consumer data platform that has touched more than a billion end customers. Capillary is backed by marquee investors like Avataar Ventures, Filter Capital, Sequoia Capital, Warburg Pincus & more.

Media Contact:

Jubin Mehta