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SaaS startup Capillary Technologies has expanded its Series D round to US$140 million, of which US$20 million will be set aside for employee stock ownership plan (ESOP) payments.
Around the middle of last year, the startup received $45 million in this round, including $39 million in equity and $6 million in debt. The size of the fund from the same group of investors, led by Avatar Ventures Partners, has now more than tripled.
The additional funding will be used to advance internal generative artificial intelligence (GenAI) initiatives and partnerships and accelerate global expansion.
The startup claims to have experienced impressive growth in the US, having expanded four times in the past three years.
“Our employees are the backbone of Capillary’s success, and we are dedicated to rewarding their hard work and dedication,” said Aneesh Reddy, MD, founder of Capillary Technologies. The assignment reflects our commitment to fostering a culture of ownership and accountability within our company.” organization. “
Founded in 2012, Capillary Technologies specializes in providing customer loyalty and engagement solutions with locations throughout the United States, Asia, Europe, and the Middle East. It claims to work with brands like Tata, PUMA, Shell, Petron, Domino’s, Kanmo Group, Marks & Spencer, and more.
“As investors, we believe in the company’s vision and are confident in its ability to disrupt the customer loyalty space,” said Mohan Kumar, Managing Partner at Avatar Ventures. “Our commitment to expansion and employee ownership reflects Capillary’s strong leadership and potential.” For long-term success. ”
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