Capillary Technologies, a provider of cloud-based software solutions has secured $15.5 million (about Rs 83 crore) in series ‘A’ funding led by Sequoia Capital and Norwest Venture Partners (NVP).
The Bangalore-based company’s existing investor Qualcomm Ventures also participated in the round. With this, Mohan Kumar of NVP and Shailesh Lakhani of Sequoia have joined Capillary’s board of directors.
Started in 2009 by Krishna Mehra, Aneesh Reddy and Ajay Modani, all alumni of IIT-Kharaghpur, Capillary had received an initial funding of $100,000 as the winner of QPrize, a business plan contest conducted by Qualcomm.
Capillary will use the capital infusion to further penetrate the retailer market in the country and extend its offerings to retail-akin industries like healthcare and hospitality. The company also aims to use the funding to enhance its product portfolio to meet the needs of a broad range of retailers worldwide.
"We see an enormous global market for our solutions. This funding round validates our vision of enabling retailers to harness the power of the cloud, predictive analytics and new mobile and social channels to drive sales and profits through customer engagement,” said Aneesh Reddy, co-founder and CEO of Capillary Technologies.
Capillary’s patent pending cloud platform integrates everything that retail marketers and operators require to engage with their customers. The company’s customer base includes companies such as Raymond, Pizza Hut, Puma, United Colors of Benetton, Peter England, Store21, Robinsons and Nike.
“We have been extremely impressed with the significant number of customers that Capillary has signed up in a relatively short period of time. Capillary’s ability to marry ‘social’, ‘local’ and ‘mobile’ with robust behind-the scenes analytics is delivering tremendous value to a wide range of retailers across a number of categories,” said Promod Haque, managing partner, Norwest Venture Partners.
