Software-as-a-service startup Capillary Technologies on Wednesday said it has elevated two of its senior executives to the position of co-founders.
The Bengaluru-based company was founded by IIT Kharagpur graduates Aneesh Reddy, Ajay Modani and Krishna Mehra in 2008. Modani and Mehra moved out in 2014.
Capillary has promoted its chief operating officer Anant Choubey and chief customer officer Sridhar Bollam to the role of co-founders, both of whom have been part of the startup since 2010.
“Anant and Sridhar have been nothing less than a co-founder, right from the onset. They’ve taken charge of whichever role they take up and excelled in it,” said Reddy, founder and managing director of Capillary Technologies.
The company offers loyalty management and customer engagement solutions to its clients, which includes brands such as Tata, PUMA, Shell, Al-Futtaim, Petron, Domino’s, Kanmo Group, and Marks & Spencer as its clients. It is present across geographies including the United States, India, the Middle East, and Southeast Asia.
The company has been previously backed by marquee investors including Warburg Pincus, Sequoia Capital, Avataar Venture Partners, and Filter Capital among others.
Choubey and Bollam are both IIT Kharagpur graduates too. Choubey started his career at P&G, the statement said, while Bollam started as an analyst at Adventity Global, according to LinkedIn, before the two joined Capillary.
“Anant's strategic prowess and Sridhar's customer-centric approach have played pivotal roles in shaping Capillary's success,” said Sameer Garde, chief executive of Capillary, who joined the company in 2022.
In June this year, Capillary Technologies raised $45 million in a fresh funding.
Capillary had filed its primary documents for an initial public offering in December 2021; however, it hasn’t gone ahead with the plan so far.
