Cloud-based retail customer engagement management company Capillary Technologies has closed a $14 Mn Series B round of venture financing led by Sequoia Capital and Norwest Venture Partners (NVP).
The company has previously raised $17 Mn in Series A in 2012. Earlier this year, it has raised undisclosed amount in funding from American Express Ventures, the venture capital arm of American Express.
The funds raised in this round will be used for enhancing 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.
Ever since its launch in 2008, Capillary is witnessing double digit year-over-year growth in annual revenue and has about 150 enterprise brands as customers. The platform is used by retailers at more than 10,000 stores reaching more than 100 Mn customers. Currently it has a team of about 120 data scientist with offices in about 8 countries.
A few of its notable new customers include Marks & Spencer, Lacoste, Keedo, Courts.