Capillary Technologies Pvt. Ltd, a software-as-a-service provider based in Bangalore, said on March 28 it has acquired a minority stake in Noida-based customer relationship management services startup Exclusife Technosoft Pvt. Ltd.

This partnership will help provide retailers and brands of all sizes with access to best-of-breed solutions, Aneesh Reddy, Co-Founder and CEO of Capillary, said in a statement.

He added that Exclusífe’s small and medium enterprises-focused solution is complementary to the enterprise CRM solutions offered by Capillary.

Exclusive is Capillary’s largest investment till date. For Exclusífe, the capital raised from the stake sale will help it expand to another 11 cities by the end of the next financial year.

Capillary was set up in August 2008 by IIT Kharagpur alumni Reddy, Krishna Mehra and Ajay Modani. It offers cloud-based software solutions to offline retailers to help them engage with their customers through mobile, social and in-store channels.

In August last year, Capillary acquired e-commerce technology solutions and services provider Sellerworx Online Service Pvt. Ltd for an undisclosed amount. It has also acquired two other startups: MartJack, a digital commerce solution company owned by Reasoning Global eApplications, and machine learning startup Ruaha Labs.

Capillary had also picked up a stake in user engagement platform WebEngage in 2016 to expand its omni-channel services to customers, and bought into customer satisfaction management firm CloudCherry in 2015.

In September last year, Capillary raised $6 million (around Rs 40 crore) from venture debt firm InnoVen Capital India Pvt. Ltd.

Prior to that, it secured around Rs 300 crore ($45 million) in round of funding led by private equity firm Warburg Pincus, with participation from its existing investors Sequoia Capital and Norwest Venture Partners.

Exclusife was founded in 2013 by Krushnan and Manish Mehta (executive chairman). Krushnan previously worked as vice president of business development at marketing agency Tangence while Mehta served as a president at the same firm.

In 2014, Exclusife was selected for iSPIRIT’s incubation programme. The company provides advanced tools using web and mobile technologies to help retailers grow their business. It claims to have presence in over 25 cities, reaches 4,000 retailers and about one crore customers.

It claims to have presence in over 25 cities, reaches 4,000 retailers and manages about 22 million consumer profiles.

Source: vccircle