Omni-channel engagement and commerce platform Capillary Technologies has acquired SellerWorx to strenghten its omni-channel product portfolio even as retailers across the country are looking at adopting both the offline and online strategy to improve sales and expand their reach.
Sellerworx is an omni-channel order and marketplace management product company enabling brands and retailers to become successful online marketplaces. The company provides retailers cloud-based software and e-commerce business incubation and support. It helps retailers to sell online. Sellerworx was funded in 2015 by Axilor Ventures through its Early Stage Funding programme.
With a suite of solutions already in place, Sellerworx’s acquisition will help Capillary further improve its customers’ overall sales. It will help eCommerce players, brands/ retailers to scale their online sales and reach by 5-10 per cent through seamlessly getting access to marketplaces along with their own brand store front. Overall, retailers can increase customer reach, engagement, sales, LTV across in-store, web, mobile, mobile app, social and marketplace channels, the company said in a statement.
From listing and cataloguing to optimising inventory across multiple channels, Sellerworx has a suite of tools and services that enable retailers to leverage online marketplaces. The key outcomes Sellerworx drives are one-touch access to online marketplaces, single view of inventory across channels and orchestrated multi-channel order fulfilment. The Priceworx product, which has an intelligent pricing algorithm, allows sellers to set different pricing strategies based on business rules to maximise profits or revenue.
Aneesh Reddy, CEO and Co-founder, Capillary Technologies, commented, “Omni-channel retail should be an about $1 trillion market in Asia by 2018. We are an Asia-focused omni-channel engagement and commerce platform committed to solve the present and future problems (opportunities) for retailers and brands. Our aim is to help our clients increase online revenue channels alongside offline business growth we currently help with. A year ago we had a bunch of products in the consumer engagement space. We acquired MartJack to help brands go omni-channel. We have done better than expected in this possibility with multimillion dollar revenue addition in a year’s time.”
Flipkarts and Amazons continue to grow and they are an integral part of the online sales strategy for our customers. Of late we realised to complete the puzzle, an omni-channel order and marketplace management product is much needed. We weighed different options to build v/s buy. To go full steam in the burgeoning market, “time to market” is key and we wanted to launch this product as quickly as we could. On the other hand, we evaluated the Sellerworx product and met the team which has tremendous knowledge in this space. Finally, we have decided to acquire Sellerworx!” he added.
Venkat, CEO and Co-founder, Sellerworx, echoed, “Capillary-Sellerworx is a great match of vision, culture and product proposition. This unique combination helps us fully meet the requirements of enterprises in building integrated, scalable and robust omni-channel businesses. With Capillary's enviable list of customers, the acquisition will help Sellerworx accelerate deployment of its products across countries, enabling businesses leverage the demand generation ability of online marketplaces.”