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Home / Knowledge / News / Information Technology / Capillary closes $14mn Series B round of venture funding
Capillary closes $14mn Series B round of venture funding
21
Jul '14
Capillary Technologies, the market leader in cloud-based retail customer engagement management, announced that it has closed a $14 million Series B round of venture financing.  This new investment adds to the $17 million of Series A funding received in 2012, providing a sizable balance to fund continued growth. Sequoia Capital and Norwest Venture Partners (NVP) led this round. 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.
 
"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," said Aneesh Reddy, co-founder and CEO of Capillary Technologies. "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.
 
With the announcement of funding also comes the announcement of a new partner, Agilysys. Agilysys is 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.  "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," said Anant Choubey, Vice President of the APAC region at Capillary Technologies.


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