bengaluru customer loyalty and customer engagement solutions provider capillary technologies is gearing up for an over rs 1000 crore ipo sources said the firm is learnt to be filing its drhp later this week or early next weekcapillary uses its aipowered cloud solution to help companies offer curated multichannel loyalty programmes to cater to the sharp increase in online customers the company counts aditya birla fashion arvind group puma kfc pizza hut hp and landmark group as customerscapillary has roped in five new independent directors to its board ahead of the ipo including neelam dhawan former md of hp and microsoft india who has joined as the chairperson of the board farid kazani former md and group cfo of majesco and group cfo and finance director in mastek sameer garde former president at cisco and dell venkat tadanki managing partner at anvaya ventures and yamini bhat cofounder of vymo an email asking about these developments to capillary did not elicit a response till the time of going to pressfounded in 2008 by aneesh reddy and krishna mehra capillary has a reach of over 100 loyalty programmes 120000 stores and 500 million consumers the company is backed by warburg pincus sequoia capital avataar capital and filter capital sources told toi that capillary technologies broke even last year at an operational level over the last 23 years capillary has morphed from a verticalfocused retail crm solutions firm to embracing a horizontal loyalty playbook with customers in oil gas travel and hospitality the strategy pivot was to tap into large enterprises with better margin profiles compared to midmarket or smbs that follow a different sales motion capillarys large customers contribute between 300000 to 2 million and 90 of revenue now comes from customers who spend more than a 100000 annuallythe retail loyalty business in asia is pegged at a 200300 million opportunity and capillary has a sizable presence in the space loyalty programmes have undergone a makeover from a points bank to becoming multichannel programmes and at the heart of it is the consumer data platform that captures nontransactiondemographic data