Capillary Technologies, cloud-based retail customer engagement management company based in Singapore, announced on 17 July that they had clinched $14 million in Series B funding led by Sequoia Capital and Norwest Venture Partners. This round of funding adds on to the previous $17 million Series A funding that Capillary Technologies had secured in 2012.
Capillary’s products, which include an integrated marketing platform, help retailers to manage customer data across multiple channels, and engage its pool of customers while gaining insights into their purchasing habits.
The funding raised will go towards enhancing Capillary’s cloud-based integrated platform and growing its partnership ecosystem, which currently includes American Express US Global Merchants Services group and Blue Label Engage in South Africa.
“Continued funding by both Sequoia and NVP is a vote of confidence in our vision and continued traction in the marketplace,” said Aneesh Reddy, co-founder and CEO of Capillary Technologies, in a press release statement.
Shailesh Lakhani, Principal of 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.”
Capillary Technologies also announced in its press release that it would be partnering with Agilysys, a company that specializes in proprietary enterprise solutions for the hospitality industry, to bring ‘innovative solutions to companies of all sizes in the hospitality industry’.