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Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool

EntrackrEntrackr ยท 24d ago
Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool
Medial

Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool Loyalty management firm Capillary Technologies is inching closer towards its public listing as the Bengaluru-based firm received board nod to float its Rs 2,250 crore or $265 million Initial Public Offering (IPO). The board at Capillary Technologies has passed a special resolution to raise up to Rs 500 crore ($59 million) via fresh issue of equity of shares and an offer for sale of up to an aggregate amount of Rs 1,750 crore ($205 million), its regulatory filing accessed from the Registrar of Companies show. In a separate move ahead of the IPO, the firm has expanded its employee stock ownership plan (ESOP) pool by 123%, increasing it from 32.6 lakh to 72.91 lakh options, which now account for 9.04% of its total share capital. According to Entrackrโ€™s estimates, the expanded ESOP pool is valued at around Rs 212 crore, out of a total pool size of Rs 384 crore. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary Technologies is a SaaS company that helps brands strengthen customer loyalty. Its platform provides insights that enable brands to offer real-time, personalized, and consistent experiences across multiple channels. As per the company, it operates across the US, India, the Middle East, and Asia, supporting over 100 loyalty programs and partnering with more than 250 brands, including Tata, PUMA, Shell, and Al-Futtaim, among others. Capillary Technologies has raised more than $240 million so far, including a $140 million Series D round completed in February last year. From this amount, $20 million is allocated for employee payouts through its stock ownership plan (ESOP). Earlier this month, the company expanded its presence in North America by acquiring Kognitiv, a provider of omnichannel loyalty solutions, as part of its strategic growth plan.

Capillary Technologies set to raise $90-100 Mn via secondary

EntrackrEntrackr ยท 1y ago
Capillary Technologies set to raise $90-100 Mn via secondary
Medial

Customer loyalty and engagement technology solutions provider Capillary Technologies is all set to raise $90-100 million in a secondary round, sources aware of the development told Entrackr. โ€œExisting investors are selling their stakes in Capillary and this is an extension to the previous round,โ€ said one of the sources requesting anonymity. In June 2023, Capillary announced the closure of its $45 million series D round from Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital. Capillary offers a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalised, and consistent experience for customers. It has a presence across the United States, India, the Middle East, Asia, et al. Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, the company works with over 100 loyalty programs, and over 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim among others. As per sources, Capillary is likely to close this transaction soon. Queries sent to Capillary did not elicit an immediate response. Weโ€™ll update the story in case we hear from them. Earlier, Capillary had claimed that the US accounts for more than a third of its revenue. The firm also acquired three companies in the US โ€“ Persuade, Brierley+Partners, and Tenerityโ€™s Digital Connect. While Capillary is yet to disclose its FY23 financial results, it reported Rs 223 crore in revenue from operations during FY22. The firmโ€™s losses also jumped from Rs 22.8 crore to Rs 100 crore during FY22.

Capillary Technologies turns profitable in FY25

EntrackrEntrackr ยท 8d ago
Capillary Technologies turns profitable in FY25
Medial

Capillary Technologies turns profitable in FY25 Customer loyalty and engagement solutions provider Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with SEBI as it gears up for a public listing. The document offers a detailed view into the companyโ€™s financials, revealing a sharp turnaround in FY25. Capillary Technologiesโ€™ operating revenue rose 14% to Rs 598 crore in FY25, compared to Rs 525 crore in FY24, as per data disclosed in the DRHP. Capillary Technologies follows a B2B SaaS model, earning revenue through subscriptions and services for its loyalty and customer engagement platform used by global brands to enhance retention and personalization. Most of the companyโ€™s revenue is through subscription-based software services, which contributed over 80% of the total, growing nearly 20% year-on-year to reach Rs 481 crore in FY25, from Rs 402 crore in FY24. The remaining Rs 117 crore came from other streams such as services and integration-linked fees. From a regional perspective, North America emerged as Capillaryโ€™s largest revenue contributor, accounting for 56.6% of the total revenue in FY25, up from 48% in the previous fiscal. EMEA (Europe, Middle East, and Africa) made up 19%, while Asia-Pacificโ€™s share declined to 24% from 33% in FY24. While a detailed expense breakdown isnโ€™t disclosed, the companyโ€™s return to profitability suggests improvements in cost structure and stronger monetization of its offerings. The company posted a net profit of Rs 14 crore in FY25, a significant improvement from the Rs 68 crore loss in FY24. Meanwhile, its EBITDA stood at Rs 78.5 crore in FY25, with a margin of 13%. As Capillary moves closer to its IPO, the shift to profitability will likely be a key narrative for investors looking at the companyโ€™s long-term potential and scalability.

Warburg, Peak XV backed-Capillary Technologies extends Series D round to $140 mn

VCCircleVCCircle ยท 1y ago
Warburg, Peak XV backed-Capillary Technologies extends Series D round to $140 mn
Medial

Capillary Technologies, a SaaS startup, has expanded its Series D funding round to $140 million with an additional $95 million secured from existing investors, led by Avataar Ventures. The company has earmarked $20 million for employee stock ownership plan payouts. Capillary Technologies provides loyalty management and customer engagement solutions to brands such as Tata, PUMA, and Domino's. The funds will be used for AI initiatives and geographic expansion. The startup has grown its presence in the United States and operates across India, Southeast Asia, and the Middle East. Capillary Technologies had previously filed documents for an IPO but hasn't proceeded with the plan.

Filter Capital makes final close of Fund I Rs 800 Cr

EntrackrEntrackr ยท 1y ago
Filter Capital makes final close of Fund I Rs 800 Cr
Medial

Filter Capital, a technology-focused investment firm, has made the final close of its first fund at Rs 800 crore (approximately $96 million). The Mumbai-based fund received around 60% of the capital commitments from domestic limited partners (LPs), with the rest coming from international investors. According to an ET report, the LPs in the round included institutional investors and family offices such as HDFC Fund of Funds, Small Industries Development Bank of India, DSP family office, Amansa Capital founder Akash Prakash and Dream Sports cofounder Harsh Jain. Launched by Nithin Nayar and Sumit Sinha in 2018, Filter Capital will invest in Series B and C rounds in the range of $15-20 million. Filter Capital India Fund I has so far invested about Rs 225 crore from its corpus in four entities โ€” enterprise loyalty software provider Capillary Technologies, bus mobility platform Chalo Mobility, e-commerce logistics services firm LoadShare Networks and healthcare enterprise software company THB. Recently, its portfolio firm Capillary Technologies extended its Series D round to $140 million, raising $95 million in secondary transactions to provide exits to existing investors and employees.

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