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

Kognitiv Overview

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

CanadaKitchener

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.

Kognitiv acquisition details
AcquirerDateType
  • Capillary Techs India
15 May 2025Strategic M&A

Kognitiv Funding History

Kognitiv has raised a total of $24M across 1 funding round.

Kognitiv funding rounds

Kognitiv funding rounds
DateStageInvestorsRaisedDeal Summary
Feb 2022Undisclosed stageAimia (lead)$24MKognitiv 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

Investors in Kognitiv by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions 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

Xtreme Blockchain Labs
Regatta Travel Solutions
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 CountryCanadaUnited States
HQ City
Toronto
Charlottesville, VA
Deal Date16 Jul 20197 Sep 2016
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Kognitiv Competitors

Kognitiv competitors include listed companies like Ibotta, Ziff Davis, QuinStreet and Groupon, and private ones like Weidian Group and AppDirect.

Public and private companies comparable to Kognitiv
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
IbottaUnited StatesUnited StatesPublicly listed$342M$7M$972M2.4x
Weidian GroupChinaBeijingPrivate--$1.4B-
Ziff DavisUnited StatesUnited StatesPublicly listed$1.5B$335M$2B1.0x
QuinStreetUnited StatesUnited StatesPublicly listed$1.3B$61M$1B0.7x
GrouponUnited StatesUnited StatesPublicly listed$498M($19M)$765M1.7x
AppDirectUnited StatesNew York City, NYPrivate$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Upwork$788M$180M1.0x1.1x4.6x3.6x
Baltic Classifieds Group$102M$79M11.2x10.9x14.5x14.1x
Yelp$1.5B$251M0.8x0.8x4.5x3.4x
LegalZoom$756M$74M1.2x1.1x12.1x4.8x
Grupa Pracuj$214M$95M4.6x4.4x10.3x9.7x
QuinStreet$1.3B$61M0.7x0.7x15.8x7.9x
SMZDM.com$192M$19M4.9x4.7x47.8x42.1x
The RealReal$693M$15M2.2x2.0x99.6x24.6x

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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.

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