Inside Capillary’s pivot before IPO

SaaS provider for customer loyalty management Capillary Technologies has turned its focus on enterprises and new verticals for its public market debut

Monday December 06, 2021 , 3 min Read

Good Morning,

Riding the wave of SaaS companies like Freshworks filing for IPO, cloud-based loyalty CRM (Customer Relationship Management) and ecommerce platform provider, Capillary Technologies, is preparing to get listed on the Indian public markets.

Founded in 2008 by Aneesh Reddy, Ajay Modani, and Krishna Mehra, the company's core offering is loyalty CRM stack, which it has expanded to new verticals beyond retail — becoming a horizontal player.

However, with the impending IPO, Capillary had to change its focus as retail’s share in the company’s revenues has shrunk from nearly 90 percent in 2019 to 65 percent now. New verticals, primarily oil and gas, conglomerates and consumer goods companies have grown their share to nearly 35 percent of the company’s revenues. Capillary has also signed out customers in the travel and hospitality and the airline space.

“We took the decision in January-March quarter of 2019 and our new business lines have been stable despite COVID-19,” Aneesh, Co-founder and CEO of Capillary, tells YourStory.

Capillary now works with over 400 enterprises including brands such as PUMA, Levi’s, Domino’s, HP, Bata as well as others from food and beverage, hypermarkets, fashion and apparel, hospitality, fuel retail, FMCG and consumer durables. Read more.

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