Global customer loyalty and customer engagement solutions provider, Capillary Technologies has announced the acquisition of Minneapolis-based customer experience company, Persuade. This marks the company’s first US acquisition and fourth globally.
Capillary’s enterprise-ready AI-powered SaaS platform offers consistent business growth and today has over 500 million customers across multiple industries including apparel and fashion, luxury and lifestyle, food and beverage, supermarkets, hospitality, retail, and consumer goods and durables. Capillary works with 10 Global Fortune 500 companies like GSK, HP to name a few.
Capillary’s acquisition of Persuade, a brand with over thirty years of expertise, further extends Capillary’s presence in North America and strengthens its position as the global customer loyalty and engagement leader. Persuade’s expertise in digital capabilities and its advanced loyalty platform will complement Capillary’s capabilities to raise the bar of customer loyalty programs and deliver solutions for new verticals like airlines, automotive, and healthcare benefiting customers across the globe.
Persuade is a highly profitable company serving several Fortune 500 brands and having grown 300 perent in CY2020 and already surpassing its CY2020 revenues during the first six months of CY2021.
“Persuade’s founders, John Tschida and Bill Jansen bring a deep understanding of customer loyalty with many decades of combined experience in the loyalty management space. They have crystallized their knowledge by building four highly successful loyalty companies including Persuade. Their team of seasoned professionals have built a world-class portfolio of prestigious customers. Together, Persuade and Capillary strive for excellence in the global loyalty space,” said Aneesh Reddy, Co-Founder and CEO of Capillary Technologies.
“We are absolutely thrilled to join a global industry leader like Capillary,” said John Tschida, Founder and Managing Partner of Persuade. “Our shared commitment to reimagining loyalty will expand our combined market reach and sharpen our joint technical capabilities, delivering impactful and always-engaging solutions to customers.”
Post-pandemic, companies worldwide are busy reinventing loyalty strategies, and this especially involves adapting to the meteoric growth in digital and online customers sparked by rolling lockdowns and less accessible brick-and-mortar business. To meet this need for change and adaptation, the Persuade acquisition enables Capillary to turbocharge curated actionable insights across the customer’s entire journey for both in-store and online experiences.
Amidst ever-changing consumer expectations, Capillary claims it ensures customers worldwide remain loyal to their chosen brands by intelligently rewarding them for desired behaviours through hyper-personalized loyalty and engagement experiences.
Founded in 2008 Capillary Technologies has a presence across the US, India, SEA, Middle East and China and has over 100 loyalty programs, 120K plus stores and over 500 million consumers. The company is backed by Warburg Pincus, Sequoia Capital, Avataar Capital, and Filter Capital.