Capillary Technologies

Capillary describes itself as an India-founded enterprise SaaS provider of AI-enabled loyalty management and customer data products; the page reports 393 brands, 46 countries and more than 678 employees.

The current investor page identifies Capillary Technologies India Limited as a Bengaluru-registered, managed-SaaS loyalty company founded in 2012 and reports 393 brands, 46 countries and 678 team members.

The current governance page identifies founder Aneesh Reddy Boddu as Managing Director and CEO, Anant Choubey as whole-time director, CFO and COO, and lists the current board and senior management.

NSE identifies Capillary Technologies India Limited under symbol CAPILLARY, ISIN INE0ILV01024, with a 21 November 2025 listing date in Software Products.

For the year ended 31 March 2026, consolidated revenue from operations was INR 7,345.99 million and profit after tax was INR 523.88 million; PAT includes INR 249.60 million of exceptional income. The filing also records completion steps for the 2026 SessionM acquisition.

The RHP names Capillary Technologies International Pte. Ltd. and Aneesh Reddy as promoters and documents 100% acquisitions of Persuade and Brierley entities plus Digital Connect and Kognitiv asset purchases; it separates loyalty software, consulting and reward-redemption assets.

The investor presentation says the loyalty system of record is priced by members or transactions, while aiRA uses usage- or outcome-based pricing with a low entry price that scales with use. It also says Persuade, Brierley and Rewards customers are expected to be fully upgraded to the Capillary platform in FY2027.

The presentation names Polycab in an aiRA case and says campaign setup, segmentation and execution moved from a traditional two-to-three-day process to minutes; the slide calls the process fully automated but does not disclose the final measured minute count.

The monitoring report records a November 2025 INR 3,450 million fresh issue and INR 3,229.08 million of net proceeds after INR 220.92 million of issue expenses.

Loyalty+ is currently marketed for online, in-store and social loyalty with configurable program management, real-time data, AI/predictive features and CDP-linked insights.

The Loyalty Program Manager configures rules, tier upgrades and downgrades, point allocation and redemption, promotions and referrals by store, location, channel or segment across B2C, B2B, channel, trade and influencer programs.

Capillary documents experiential, influencer, gamified, omnichannel, coalition, group and referral loyalty; it supports QR/barcode/bill-upload/OCR capture, API redemption partners, geofencing and partner conversion ratios.

Engage+ directly creates, triggers, monitors and manages segmented campaigns and journeys across email, SMS, push, web push and social channels; it includes churn and cross-sell audiences, personalized vouchers, cart/catalog promotions, offers, coupons, points and creative management.

The article describes drag-and-drop journeys, real-time triggers, cart recovery, dynamic journey adaptation, funnel reporting and AI-based churn, send-time, channel and content choices. It anonymously reports a 30% churn reduction for a retail client without a disclosed baseline or formula.

Insights+ provides loyalty, engagement and CDP analytics, standard and custom reports, segmentation and RFM analysis, data exports, 50 charts and 250 KPIs with View, Create and Admin roles.

Member Care unifies customer profiles, subscriptions, interactions, transactions, loyalty, coupons and segments across in-store, ecommerce, apps, websites, Facebook, WhatsApp, WeChat, Line, TMALL and other sources; authorized users can change selected status and subscription fields.

Rewards+ embeds a web/app marketplace through SSO, supports travel, event and cinema bookings, integrated payment, card-linked cashback and payouts to cards or bank accounts, and offers advertising and commission monetization.

Rewards+ can source tickets, cinema, cashback and voucher aggregators, merchant vouchers, gift cards, travel, card-linked offers, client partner offers and client-funded cashback or vouchers.

Rewards+ provides embedded PWA or iframe experiences, SSO, partner coupon and cashback integrations, pay-in purchases and pay-out cashback. The documentation explicitly says points earned in external programs cannot currently be used for Rewards+ purchases.

Rewards Catalog is not enabled by default; brands must raise a support ticket and assign permission roles, establishing a managed enablement boundary rather than self-service default availability.

Current 2026 release notes cover Engage+, Loyalty+, CDP, Incentives, Insights+, Neo and aiRA; 2025 notes also cover Rewards+, Connect+ and Dev Console, supporting current-versus-legacy product boundaries.

Capillary documents bidirectional, near-real-time synchronization with Adobe Experience Platform, Real-Time CDP and Journey Optimizer.

Capillary maintains public API reference documentation for reading and writing customer, transaction, loyalty, points, coupon, promotion and related platform objects.

Capillary exposes a remote MCP endpoint for documentation search, account documentation, API assistance and code generation; the retained page does not expose live merchant loyalty actions through MCP.

Member Care supports maker-checker approvals for identifier changes, points redemption, goodwill points and coupons, PII deletion, account merge, retro-transactions, status changes and badges, with custom multi-approval workflows and API audit logs.

Member Care shows reward, coupon, transaction, point, partner, redemption and purchase-limit details for redeemed rewards, giving support teams operational visibility but not proving autonomous customer-service resolution.

aiRA conversationally prepares multi-market campaigns, segments, rewards, messages, channels and forecasts, with explicit human approval before any customer-impacting action. The page documents audit trails, drift monitoring, guardrails, PII masking, sandbox testing and a two-to-four-week pilot.

aiRA uses a client-account credit pool shared across billed users; credit rates may be charged per activity, transaction or API call, with usage visibility and change-notice rules. No public currency price or typical contract value is disclosed.

The article says aiRA builds, tests, launches and learns from campaigns end to end and describes a QA Agent that generates test cases; this broad autopilot wording conflicts with the product page's explicit approval requirement for every customer-impacting action.

Capillary states that aiRA moves from intent to execution rather than only advice, but the article does not supersede the product page's approval gate or document unapproved live execution.

Brierley is currently positioned as a Capillary services company providing loyalty strategy, design, digital development, data science and more than 20 consulting modules; these are human-delivered services rather than software autonomy.

Capillary acquired Brierley+Partners in 2023 to add North American loyalty technology, strategy, execution and consulting capabilities; this page is historical acquisition proof, while current services are evidenced separately.

Capillary announced a definitive agreement to acquire SessionM from Mastercard to expand enterprise loyalty and engagement in North America. FY2026 financial results provide later closing/accounting evidence; this announcement alone is not product-integration proof.

The current customer hub reports 100+ loyalty programs, 1.9 billion+ loyalty members, 415+ global brands and 46+ countries, and carries attributable qualitative testimonials from Tata Digital, My Place Hotels, Audience Rewards, Domino's Indonesia, Jaspal Group, Aditya Birla Fashion Retail, Sonak Group and Arvind Fashions.

The current official resource hub links 14 Capillary case-study documents through company-controlled HubSpot short links; all 14 were retained and normalized, with the two Himalaya versions merged into one customer record.

The official case reports service rewards, adopter tier recognition and charitable point donation across 1,650+ stores, including 365,900+ certificates, 7,200+ elevated adopters, USD 1.2 million in donation campaigns, USD 8.3 million in member value and several survey and basket metrics. The customer is unnamed.

The official case says activation and lapsed-member win-back programs across email, SMS and app channels generated USD 18 million in incremental revenue for an unnamed mobility company operating 11,000+ locations in 160 countries.

The official case reports a natural-language-to-SQL loyalty query answered in under 30 seconds versus a prior turnaround described only as days, with no technical skill required; it withholds the client name.

The newer Himalaya case reports 800+ retail touchpoints, 70+ cohort campaigns, voucher issuance up 1.9%, voucher-redemption sales up 120.4%, campaign execution up 159%, CRM sales up 22.5%, campaign sales up 171%, repeat-customer sales up 19.5%, win-back sales up 37.8% and spend per customer up 45.2%.

The official anonymous case reports five-market B2B loyalty with 87% retention, 92.32% redemption, 11–20% revenue uplift, 13% higher annual revenue from the top 20% of customers and automation for 50+ concurrent promotions.

The official anonymous case reports a 25+ brand, 250-partner lifestyle program with 4.6 million members in nine countries, 150% growth in monthly active users, 107% membership growth, 17% higher revenue contribution and 65% more redemptions.

The official anonymous case reports 55%+ monthly-active-user growth, 22% more multi-category buyers, 59% redemption, two-to-three-times CRM CTR uplift, 281,000+ badges and a bounce rate reported as cut to 30%.

The anonymous official case reports 215,000+ verified users, 100,000+ families affected, 57% more active users, 48% transaction growth, 230,000+ downloads and a 1.5-times enrollment spike for a QR-first electrician loyalty program.

The anonymous official case reports 10 million members acquired in 12 months, 42.23% average email open rate, 144 personalized campaigns, 76% active within six months and 30% loyalty-base growth for a 1,300+ store European fashion brand.

The earlier Himalaya case reports 708 stores but says the program spanned 600+ stores, plus 43% membership growth, 86% membership conversion, 35% retention improvement, 80% higher loyalty-member spend, 75% reward redemption, 36.5% loyalty-driven sales growth, 9% more redemptions and 20% higher satisfaction.

The anonymous official case headline reports 68% membership growth and 91% retention; the body reports 2.1 million fantasy lineups, 2 million leaderboard check-ins, 70% more on-site time, 58% more data shared, 187 million points earned and 50 million+ redeemed.

The official anonymous pilot compares two AI segments with traditional cohorts: personal-care hit rate 20% versus 9%, and large-family hit rate 22% versus 7%, with contacted and delivered counts disclosed. The title says transactions surged 2x, although the two comparisons imply different relative multiples.

The anonymous official case reports 100,000+ influencers in seven+ countries, 75% incremental retail sales, 50% more active influencers, 12-times paint purchases and 30% more registrations. Its headline says 1,450% sales growth while the body says 1,250%, an unresolved contradiction.

The anonymous official case headline reports nearly USD 1 million of incremental sales and 33% higher average transaction value; its result cards also report 135 million sales with no currency label, 42% voucher redemption and 30% dormant/lost-customer activation.

Shiprocket's official TechSphere page says shoppers can earn and redeem loyalty points in Shiprocket Checkout and names Capillary among compatible loyalty providers. It does not disclose implementation depth, commercial terms, merchant adoption or outcomes.

Capillary reports that an unnamed leading Indonesian fuel retailer added two million new mobile users through its loyalty-app program; customer identity, baseline, measurement window and calculation are not disclosed.