Capillary Technologies, the provider of customer relationship management (CRM) software and marketing analytics for retailers, has acquired a minority stake in Exclusife by investing an undisclosed amount in the startup.

Exclusife is a CRM-based startup that targets small and medium retailers in India. It was founded in 2013 by Anand Krushnan and Manish Mehta. The Noida-based startup provides mobile-first CRM solutions, and claims to have over 4,500 users on its platform in some 22 cities.

Commenting on this development, Anand Krushnan said:

With the fresh capital, we plan to expand to another 11 cities by the end of the next financial year and penetrate further into the existing markets.

Capillary’s chief executive Aneesh Reddy said about this strategic partnership:

While Capillary has made a mark in the enterprise segment, Exclusife will play a similar role in SMB Retail segment. Together we form a great team in serving the needs of brands of different sizes. While we process 10% of the organised retail in India, Exclusife will aggressively work towards small retail segment which forms a market size of around 5% of the overall market of 14 million SMB retailers in India.

Capillary Technologies was founded in 2008 by Aneesh Reddy, Krishna Mehra and Ajay Modani. It is headquartered in Bengaluru, India with additional offices in Mumbai and New Delhi, India; Sydney, Australia; and Johannesburg, South Africa.

It offers loyalty, client, social consumer relationship management, back-end analytics, and multichannel campaign management solutions. The company’s products are deployed across 20,000 stores primarily in Asia, owned by a massive 200 enterprise retailers such as Pizza Hut, Puma, KFC, United Colors of Benetton, Unilever, Wal-Mart Stores Inc and the Landmark Group, Calvin Klein, Gap, Starbucks, among others.

Recently, the company had raised an undisclosed amount as a loan from InnoVen Capital. Prior to that, in 2015, it raised $45 million in a funding round led by Warburg Pincus.

The company has also acquired Ruaha Labs And MartJack in 2015 and an e-commerce software firm Sellerworx last year. It had also picked up a minority stake in Cloudcherry Analytics, a real-time customer sentiment mapping & experience analytics startup.

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