Capillary Technologies elevates two top leaders as cofounders

economictimes.indiatimes.com:

Cloud-based loyalty service provider Capillary Technologies has elevated two of its senior leaders — chief operating officer Anant Choubey and chief customer officer for the US business Sridhar Bollam — as cofounders of the firm. The move comes as the software player has been focused on growth, especially in the US market, and is looking to clock profit after taxes in FY25, founder and managing director Aneesh Reddy told ET. “I think fundamentally the trajectory of the business has changed significantly.

And when one thinks about the future of the company for the next 15-30 years, rather than being a lone founder, you need to think of individuals who will be bedrocks to the business and will build the company and its culture along with professional leadership,” added Reddy about the recent elevations.Capillary Technologies was founded in 2008 by Aneesh Reddy, Ajay Modani and Krishna Mehra to provide omnichannel loyalty software to customers. However, over time, Modani and Mehra moved on from the business, leaving Reddy at the helm. “The business has been growing at a remarkable pace.

We are now looking at the US contributing over 50% of our overall revenues in just 24 months since launch. Europe is another business that is starting out (in terms of revenues). So, there are a lot of Series-A moments like these for us, and there was never a better time to make these elevations,” Reddy added.

Both Choubey and Bollam are IIT Kharagpur graduates and have been with the software player since 2010. While Choubey has been focused on aspects such as profitability of the business, Bollam has headed the India and Middle East functions at the startup. “I look forward to continuing our pursuit of excellence and strengthening our