Capillary Technologies, a Singapore-based provider of cloud-based software for the retail industry, completed a $45m series C round yesterday featuring Norwest Venture Partners, the venture capital firm backed by bank Wells Fargo.
The round was led by an affiliate of private equity firm Warburg Pincus and also included VC firm Sequoia Capital. The company has now raised approximately $79m since it was founded in 2008.
Capillary’s cloud-based platform powers customer engagement, loyalty and social customer relationship management services for retail clients in-store and across mobile, e-mail and social media channels.
The funding will support an expansion of the platform and a broadening of Capillary’s software product range, as well as the acquisition of India-based e-commerce business management platform MartJack for an undisclosed sum.
Aneesh Reddy, Capillary’s co-founder and CEO, said: “This funding round validates our model and vision of enabling retailers to harness the power of the cloud and to provide a deeper connect for consumers across channels.
“It also puts us on the path to being one of Asia’s true product bellwethers, which will establish us as a strong contender on the global map of enterprise [software-as-a-service] solutions.”
Capillary raised $14m in a Norwest and Sequoia-backed round in July 2014, five months after payment services firm American Express invested about $4m through its corporate venturing unit, American Express Ventures.
The company had already secured $15.5m in a 2012 series A round featuring Qualcomm Ventures, the investment arm of wireless technology producer Qualcomm, which had invested an undisclosed amount at seed stage, as well as Sequoia and Norwest.