IT firm Capillary Technologies has raised $14 million (over Rs 84 crore) in a second round of funding, led by Sequoia Capital and Norwest Venture Partners (NVP).
The Bangalore-headquartered firm offers cloud-based software solutions, helping retailers manage their customer data, gain insights and personalise engagement across social media, mobile, e-mail, online and in-store channels, driving growth in sales and loyalty.
The new investment adds to the $17 million of Series A funding it received in 2012 and provides a sizable balance to fund continued growth, Capillary said in a statement today.
In February this year, American Express Ventures, venture capital arm of one of the world's biggest credit card firms, had also made a strategic investment in Capillary.
The company also counts Qualcomm Ventures as one of its investors.
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, it added.
"Continued funding by both Sequoia and NVP is a vote of confidence in our vision and continued traction in the marketplace. Retailers realise a 15 per cent increase in average basket value and 30 per cent increase in their customer retention rate by implementing our solutions, which is the reason we continue to grow so rapidly around the world," Capillary Technologies co-founder and CEO Aneesh Reddy said.
Along with the funding announcement, the company said it has also added a new partner Agilysys.
Agilysys is a developer and marketer of proprietary enterprise software, services and solutions to the hospitality industry and operates in North America, Europe and Asia.
"We are excited to have them on board and our partnership will allow us to bring innovative solutions to companies of all sizes in the hospitality industry," Capillary Technologies Vice President (APAC) Anant Choubey said.
Its new customers include Marks & Spencer, KFC, Lacoste, Keedo and Courts. Its platform powers more than 150 major brands across 10,000 retail locations to consumers across the US, the UK, Middle East, South Africa and the Asia-Pacific region.
