Cloud-based retail customer engagement management firm Capillary Technologies has closed a $14 million Series B round of venture financing led by Sequoia Capital and Norwest Venture Partners (NVP).
This new investment adds to the $17 million of Series A funding received in 2012, providing a sizable balance to fund continued growth. Capillary Technologies will use the funding to enhance its cloud-based integrated marketing platform and grow its partnership ecosystem with clients such as Blue Label Engage in South Africa and the American Express US Global Merchants Services group.
Comenting on the round of funding, Aneesh Reddy, co-founder and CEO of Capillary Technologies said,“Continued funding by both Sequoia and NVP is a vote of confidence in our vision and continued traction in the marketplace. Retailers realize a 15% increase in Average Basket Value and 30% increase in their customer retention rate by implementing our solutions, which is the reason we continue to grow so rapidly around the world.“
Capillary’s insights-driven, integrated marketing platform helps retailers to quickly and easily manage their customer data, gain insights and personalize engagement across multiple channels, driving a significant increase in sales and loyalty. Capillary’s Intelligent Customer Engagement™ (ICE) suite of software solutions incorporates everything that retail marketers require to engage with their customers, weaving social and mobile experiences into any e-commerce platform or point-of-sale device from legacy terminals to the latest POS devices, mobile tablets, and online shopping platforms.
“Capillary has demonstrated that it can scale up successfully and profitably by focusing on a segment that has been underserved by other more expensive and complex solutions,” said Shailesh Lakhani, Principal, Sequoia Capital. “The strength of Capillary’s solution is it’s ability to deliver immediate business results. We are excited to partner with the company in this next crucial phase of its growth.”
The firm also announced a new partner Agilysys, a leading developer and marketer of proprietary enterprise software, services and solutions to the hospitality industry and operates extensively throughout North America, Europe and Asia.
Notable new customers include Marks & Spencer, a leading apparel retailer with stores in Europe, Middle East and Asia, KFC, the world’s most popular chicken restaurant chain, Lacoste, a leading French bridge-to-luxury brand, Keedo, a leading children’s clothing manufacturers in South Africa, and Courts, one of the top electrical, IT and furniture retailers in Southeast Asia.”
Capillary and its Customer Engagement Management platform has been honored with awards such as one of the 20 Most Promising Digital Marketing Solutions by CIO Review Magazine, Always On Global 250 Top Private Companies, Winner of Top 50 Startups by TiE Silicon Valley, Innovative 100 by Inc. Magazine’s India, and CIO Asia’s 20 Most Promising Product Companies.
Capillary’s platform powers more than 150 major brands across 10,000 retail locations, bringing instant shopper gratification to over 100 million consumers across the United States, United Kingdom, Middle East, South Africa and the Asia-Pacific region.
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