M&A

M&A

Capillary Technologies acquires US co Tenerity's customer engagement product

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Bengaluru-based SaaS startup Capillary Technologies has acquired Tenerity's product Digital Connect. With the acquisition, Capillary aims to strengthen its position in the US and European markets by acquiring the reward ecosystem that Digital Connect enables on its platform. The deal marks its third acquisition in the US. Tenerity is a US-based rebranded loyalty and engagement company, and, with artificial intelligence (AI) and analytics capabilities. Its product Digital Connect allows companies to engage customers with offers to make their brand memorable and generate incremental revenue. Post the acquisition of Digital Connect, Tenerity will continue to operate independently. Digital Connect will be rebranded as Rewards+ and will be added as the fourth product on the Capillary platform alongside Engage+, Loyalty+, and Insights+. Founded in 2012, Capillary is an end-to-end customer loyalty platform, offering a view of unified and cross-channel strategies, delivering an omnichannel personalised experience for its customers. It claims to be working with over 250 brands, including Tata, Shell, PUMA, Petron, Domino's, and Marks & Spencer with a presence in the US, India, the Middle East, and Southeast Asia.

From the Venture Intelligence PE-VC Deal Database: Between Jan 2010 and June 2023, Capillary Technologies had raised over USD 201 million from Avataar Ventures, Pantheon, 57 Stars, Unigestion, Filter Capital, Peak XV Partners, Norwest, Warburg Pincus, Amex Ventures, Qualcomm Ventures and Innoven Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)