Capillary Technologies acquires e-commerce services and technology company Sellerworx.
Capillary Technologies which develops omni-channel CRM platform for retail brands has acquired ecommerce services and technology company Sellerworx for an undisclosed amount. This is Capillary technomogies third acquisition in a year time to offer a suite of integrated products for brands and retailers to manage their omni-channel operations.
The company has previously acquired digital commerce solution provider MartJack and machine learning company Ruaha in September 2015 after an investment of Rs 300 crore from Warburg Pincus and existing investors Sequoia Capital and Norwest.
Aneesh Reddy, cofounder of Capillary Technologies, said in a statement:
“Including the recent acquisition, we have spent less than USD50 million towards acquiring new companies. We were partnering with Sellerworx since January and started the talks for acquisition close to 3-4 months back. The deal was funded by capital raised last year,”
The MartJack acquisition alone cost the company Rs 250 crore in a mixed cash and equity deal. He added that the acquisition was aimed at technology and new enterprise clients. Reddy adds:
“Sellerworx works with some sizeable brands. We are targeting around 20% of the digital spends by brands and wanted to build products on our own. As validation for a new product line takes close to 12-18 months, it was reasonable to go for an acquisition. We plan on running Sellerworx as an independent entity for six month , post which it will be integrated with the MartJack platform,”
Sellerworx provides products and services for retailers and merchants to manage the inventory, pricing, returns across different marketplaces and a dynamic price management tool for marketplace sellers. It was funded in 2015 by Axilor Ventures. With a clientele across 30 countries, Capillary claims its products are being used in over 20,000 stores, by more than 200 large enterprise retailers including Unilever, Wal-Mart Stores Inc and the Landmark Group, Calvin Klein, Gap, Starbucks, Pizza Hut and Puma.