Capillary Technologies raises $14 Million Series B Funding
Capillary Technologies has recently raised $14 million Series B round of venture financing.July 17, 2014 | comments ( 0 ) |
Leading cloud based retail customer engagement management company, Capillary Technologies has recently raised $14 million Series B round of venture financing. This new investment adds on to the $17 million of Series A funding received in 2012, providing a sizable balance to fund continued growth.
According to Aneesh Reddy, co-founder and CEO of Capillary Technologies, "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 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. "
Sequoia Capital and Norwest Venture Partners (NVP) led this round. Further, this 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.
"We want to continue to provide innovative shopping experiences for our customers. Capillary's insights-driven approach has allowed us to more precisely target prospects in six European countries who will be most receptive to our expanded product line," said Zdenek Hasek, Head of Marketing at Marks & Spencer for Czech Republic, Poland, Slovakia and Baltics.
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