Capillary Technologies has closed a US$14 million Series B round of venture financing led by Sequoia Capital and Norwest Venture Partners (NVP), the cloud-based software solutions provider announced today.
The funding will be used to enhance Capillary's cloud-based integrated marketing platform and grow its partnership ecosystem, the company said in a media statement.
This new investment adds to the US$17 million of Series A funding received in 2012, which supports the company's funding for continued growth.
"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. "By harnessing the power of Capillary's Intelligent Customer Engagement (ICE) Suite, retailer marketers are forming successful and personalised relationships with their customers based on insights from our customer analytics platform across multiple channels."
"Retailers realise a 15 percent increase in Average Basket Value and 30 percent increase in their customer retention rate by implementing our solutions, which is the reason we continue to grow so rapidly around the world," he added.
Capillary's marketing platform helps retailers to quickly and easily manage their customer data, gain insights and personalise engagement across multiple channels, driving a significant increase in sales and loyalty.
Capillary's 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.
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