Capillary Technologies, a customer loyalty and customer engagement solutions provider, has announced the acquisition of Minneapolis-based customer experience (CX) company, Persuade.
This marks the company’s first US acquisition and fourth globally. In addition, 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 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 has 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, Capillary Technologies.
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.
John Tschida, Founder and Managing Partner of Persuade, said, “We are absolutely thrilled to join a global industry leader like Capillary. 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.”
Singapore-headquartered, Capillary’s enterprise-ready AI-powered SaaS platform drives consistent business growth and establishes enduring brand relationships with 500M+ customers across multiple industries, including apparel & fashion, luxury & lifestyle, food & beverage, supermarkets, hospitality, retail, and consumer goods and durables.
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 also online experiences.
Additionally, Persuade is a highly profitable company serving several Fortune 500 brands. It has grown 300% in CY2020 and has already surpassed its CY2020 revenues during the first six months of CY2021.