Sequoia, Norwest commit $14m to India's Capillary Technologies

This latest investment follows a $17 million Series A round led by Sequoia and Norwest in September 2012. According to a release, the new funds will be used to improve Capillary's cloud-based marketing platform and expand its partnerships, which already include Blue Label Engage in South Africa and the American Express US Global Merchants Services group.

Capillary was set up in Bangalore in 2008 and initially relied on angel funding before it won the QPrize, a seed competition run by Qualcomm Ventures, which led to its first institutional round. The company provides cloud-based software solutions covering end-to-end customer engagement, loyalty programs and customer relationship management.

The platform claims to powers more than 150 brands across 10,000 retail locations, serving 100 million consumers across the US, UK, Middle East, South Africa and Asia Pacific. Capillary's current customers include UK retailer Marks & Spencer, chicken restaurant KFC, luxury brand Lacoste, South African children's clothing manufacturer Keedo, and Southeast Asian electronics retailer Courts.

"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. "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."

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• Topics
• South Asia
• Early-stage
• Technology
• Venture
• India
• Technology
• Venture
• Norwest Venture Partners
• Sequoia Capital