Capillary’s fifth buy is US firm Brierley from Nomura

Customer engagement software provider Capillary Technologies on Tuesday announced the acquisition of Texas-headquartered Brierley+Partners, which provides loyalty solutions to global brands, from Japan-based Nomura.

This is Capillary’s fifth acquisition globally and second in the United States, in line with its efforts to expand into the North America market. Its previous acquisitions include US-based customer experience firm Persuade, machine learning startup Ruaha Labs, digital commerce solutions provider MartJack, and ecommerce technology services provider Sellerworx.

It has also invested in other startups, including customer relationship management (CRM) software provider WebEngage.


Capillary had been looking to list on Indian bourses and even filed draft documents to raise Rs 850 crore through initial public offering (IPO) in December 2021.

“Brierley+Partners has some of the best people in the loyalty space and combining forces with the firm will help take Capillary’s offering to the next level, especially in the North American and Japanese markets,” said Aneesh Reddy, founder, managing director, and vice chairman of Capillary Technologies.

Capillary plans to expand its loyalty offerings through Brierley, leverage the latter’s Emotional Loyalty Quotient platform to drive value, and cross-sell newer product capabilities to Brierley’s existing clientele.

“We believe that our combined expertise will enable us to provide our clients with even more innovative and effective loyalty and customer engagement solutions through Capillary’s next-generation SaaS platform,” said Bill Swift, chief executive of Brierley.

Brierley+Partners provides loyalty marketing and CRM software to large enterprises across the travel and retail segments. Its annual revenue is estimated at $20-25 million.

Warburg Pincus and Sequoia-backed Capillary Technologies has raised over $100 million till date. It reported a net loss of Rs 22.2 crore on a standalone basis in FY22, after registering a profit in FY21.