Capillary Technologies raises $14 million Series B funding led by Sequoia Capital and Norwest Venture Partners
Cloud-Based Integrated Marketing Platform Leader, Capillary Technologies, today announced that it has raised$14 million in Series B round of venture financing led by Sequoia Capital and Norwest Venture Partners (NVP). The company had previously raised $17 million in Series A funding in 2012. The funding will be used to enhance Capillary’s cloud-based integrated marketing platform and grow its partnership ecosystem, which already includes Blue Label Engage in South Africa and the American Express US Global Merchants Services group.
Aneesh Reddy, co-founder and CEO of Capillary Technologies commented, “Continued funding by both Sequoia and NVP is a vote of confidence in our vision and continued traction in the marketplace. By harnessing the power of Capillary’s Intelligent Customer Engagement™ Suite, retailer marketers are forming successful and personalized relationships with their customers based on insights from our customer analytics platform across multiple channels. 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 integrated marketing platform is driven by insights and helps retailers to quickly and easily manage their customer data, gain insights and personalize engagement across multiple channels. This drives 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.
Shailesh Lakhani, Principal, Sequoia Capital said,
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. 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.
Capillary has also joined hands with Agilysys, a leading developer and marketer of proprietary enterprise software, services and solutions to the hospitality industry. Agilysis operates extensively throughout North America, Europe and Asia. This partnership will bring innovative solutions to companies of all sizes in the hospitality industry.
Notable new customers include Marks & Spencer, restaurant chain KFC, Lacoste, Keedo and Courts.
“Capillary’s insights-driven approach has allowed us to more precisely target prospects in six European countries who will be most receptive to our expanded product line,” said Zdenek Hasek, Head of Marketing at Marks & Spencer for Czech Republic, Poland, Slovakia and Baltics.
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