Capillary Technologies picks up stake in WebEngage
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Bangalore-based Capillary Technologies Pvt Ltd has picked up a minority stake in user engagement platform WebEngage.
With the partnership, Webklipper Technologies Pvt Ltd, which runs WebEngage, will now be able to deliver an omni-channel experience to its clients.
"For Capillary, the partnership works as they get a useful tool where they can engage their customers across platforms. For WebEngage, we get access to a large customer base that is primarily offline, which was not even our target audience," Avlesh Singh, CEO and co-founder of WebEngage, told Techcircle.in.
The SaaS-based CRM solutions provider had also picked up a minority stake in customer satisfaction management firm CloudCherry recently.
Founded in October 2010 by Singh, along with Ankit Utreja (CTO), WebEngage's solutions allow online businesses to run promotions and offers on their websites and gather customer insights. Singh holds a B.Tech degree in mineral engineering from Indian School of Mines, Dhanbad (Jharkhand). He has earlier worked with Infomedia18, Burrp, OnYoMo and HCL. Utreja is a computer science graduate and has earlier worked at TCS and Burrp.
WebEngage has raised two rounds of funding, from Indian Angel Network and New York-based GTI Capital, previously.
In September last year, Capillary Technologies, secured around Rs 300 crore ($45 million) in a fresh round of funding led by private equity firm Warburg Pincus. Its existing investors Sequoia Capital and Norwest Venture Partners also participated in the round.