- Companies
- Kognitiv
Kognitiv Acquisition, Valuation, Funding & Investors
Kognitiv was acquired by Capillary Techs India in May 2025.
Kognitiv acquisition price
Undisclosed
Acquired by Capillary Techs India · May 2025
Cumulative funding Kognitiv raised
$24M
across 1 funding round
Key investors in Kognitiv
Aimia
About Kognitiv
Kognitiv is a Waterloo-headquartered company that engineers machine learning-driven loyalty and reward programs for global brands. Its Loyalty Capital Network connects asset owners with member brands to match consumer preferences with assets like airline seats and hotel rooms. Operating in Canada, United States, UK, India, Argentina, Austria, and Hong Kong, Kognitiv serves clients including Air Canada and Marriott. Founded in 2013, it employs over 220 staff across nine locations to deliver peer-to-peer marketplaces enhancing retention yields.
Founded
2007
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Kognitiv Acquisition
Kognitiv was acquired by Capillary Techs India for an undisclosed price on 15 May 2025.
Before the acquisition Kognitiv had raised $24M across 1 funding round.
Capillary Technologies, a Bengaluru-headquartered AI-powered loyalty management and customer engagement software company backed by Warburg Pincus, acquired assets from Kognitiv, a Canada-based provider of omnichannel loyalty solutions that had entered bankruptcy. The acquisition, announced in May 2025, granted Capillary access to over 30 enterprise clients including Petsmart, Hallmark, Yuu Rewards, Kirkland's, and Leading Hotels of the World, with geographic presence across the US, UK, Middle East, Australia, New Zealand, and Southeast Asia. The financial terms were not disclosed, and Capillary acquired the assets without assuming Kognitiv's debt obligations. The transaction marked Capillary's third or fourth acquisition in North America as part of its broader inorganic growth strategy following earlier purchases of Persuade, Brierley+Partners, and Tenerity's Digital Connect Assets. CEO Aneesh Reddy stated that Kognitiv's omnichannel loyalty expertise and North American presence complemented Capillary's global expansion strategy, particularly the company's ability to deliver data-driven personalization across the customer lifecycle. The deal aligned with Capillary's preparation for a public offering planned for later in 2025, as the company moved toward filing its draft prospectus with India's Securities and Exchange Board to raise approximately Rs 2,000 crore. Capillary's financial performance showed strong momentum, with operating revenue reaching Rs 598 crore in fiscal year 2025 (up 24% year-on-year) and the company achieving profitability with a net profit of Rs 13 crore after losses in prior years.
| Acquirer | Date | Type |
|---|---|---|
| 15 May 2025 | Strategic M&A |
Kognitiv Funding History
Kognitiv has raised a total of $24M across 1 funding round.
Kognitiv funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2022 | Undisclosed stage | Aimia (lead) | $24M | Kognitiv Corporation is a B2B collaborative commerce platform based in Waterloo, Ontario, that enables businesses to build marketplaces and redefine loyalty programs. On February 2, 2022, Kognitiv announced C$48.5 million in financing transactions comprising a C$17.5 million senior debt facility from Silicon Valley Bank and C$31 million in convertible notes. Investors in the convertible notes included C$15 million from a new U.S. institutional investor, C$10 million from Aimia Inc., and C$1.25 million from company insiders and board members. The convertible notes included options to convert to equity at a discount to the price in Kognitiv's next qualified equity financing round. In the first quarter of 2022 ending March 31, Kognitiv reported revenue of C$14.1 million and adjusted EBITDA of negative C$10.7 million. The company was positioned as a leader in the rapidly expanding collaborative commerce market, with the financing aimed at expanding its proprietary platform and funding working capital. |
Who has invested in Kognitiv?
1 investor has backed Kognitiv across its funding rounds, including Aimia.
Lead investors include Aimia.
Kognitiv Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Kognitiv investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Kognitiv
Kognitiv has acquired 2 companies to date.
Last acquisition by Kognitiv was on July 16th 2019. Kognitiv acquired Xtreme Blockchain Labs for undisclosed valuation.
Latest Acquisitions by Kognitiv
| Description | Xtreme Blockchain Labs is a builder of blockchain applications for capital markets and financial services. The team develops smart contract platforms, DeFi protocols, and tokenized assets leveraging experience from projects acquired by Apple, Google, Electronic Arts, and Salesforce. Based in Dubai, XBL targets trading, settlement, and compliance solutions on Ethereum and Solana. | Regatta Travel Solutions is a provider of patented booking engines for hotels and attractions used by independent properties and chains worldwide. Its private-label Online Travel Agency platform powers Destination Marketing Organization websites, while its sports housing solution manages group accommodations. The company supports hundreds of hotel sites and dozens of DMO platforms to boost direct bookings. |
| HQ Country | ||
| HQ City | Toronto | Charlottesville, VA |
| Deal Date | 16 Jul 2019 | 7 Sep 2016 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Kognitiv acquisitions and their M&A valuation multiples. Start Free Trial | ||
Kognitiv Competitors
Kognitiv competitors include listed companies like Ibotta, Ziff Davis, QuinStreet and Groupon, and private ones like Weidian Group and AppDirect.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $342M | $7M | $972M | 2.4x | ||
| Private | - | - | $1.4B | - | ||
| Publicly listed | $1.5B | $335M | $2B | 1.0x | ||
| Publicly listed | $1.3B | $61M | $1B | 0.7x | ||
| Publicly listed | $498M | ($19M) | $765M | 1.7x | ||
| Private | $18M | - | $1.5B | - |
Kognitiv Public Comps
Kognitiv is no longer listed, but its public comps include Upwork, Baltic Classifieds Group, Yelp, LegalZoom, Grupa Pracuj, QuinStreet, SMZDM.com, The RealReal, BuySell Technologies and Ibotta.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $788M | $180M | 1.0x | 1.1x | 4.6x | 3.6x | |||
| $102M | $79M | 11.2x | 10.9x | 14.5x | 14.1x | |||
| $1.5B | $251M | 0.8x | 0.8x | 4.5x | 3.4x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $214M | $95M | 4.6x | 4.4x | 10.3x | 9.7x | |||
| $1.3B | $61M | 0.7x | 0.7x | 15.8x | 7.9x | |||
| $192M | $19M | 4.9x | 4.7x | 47.8x | 42.1x | |||
| $693M | $15M | 2.2x | 2.0x | 99.6x | 24.6x | |||
This data is available for Pro users. Sign up to see all Kognitiv competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kognitiv
| When was Kognitiv founded? | Kognitiv was founded in 2007. |
| Where is Kognitiv headquartered? | Kognitiv is headquartered in Kitchener, Canada. |
| Is Kognitiv publicly listed? | No, Kognitiv was acquired by Capillary Techs India in May 2025. |
| Who acquired Kognitiv? | Kognitiv was acquired by Capillary Techs India in May 2025. |
| How much funding has Kognitiv raised? | Kognitiv has raised $24M across 1 funding round. |
| What was Kognitiv's last funding round? | Kognitiv's last funding round was a $24M undisclosed-stage round in February 2022, led by Aimia. |
| Who are Kognitiv's investors? | Kognitiv's investors include Aimia. |
| Which companies are comparable to Kognitiv? | Companies comparable to Kognitiv include Ibotta, Weidian Group, Ziff Davis, QuinStreet, Groupon and AppDirect. |
| How many companies has Kognitiv acquired? | Kognitiv has acquired 2 companies, including Xtreme Blockchain Labs and Regatta Travel Solutions. |
See companies similar to Kognitiv
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




