Capillary Technologies, an India-based social startup and the largest retail CRM provider in India, has raised $15.5 million in Series A round led by Sequoia Capital and Norwest Venture Partners (NVP). Existing investor Qualcomm Ventures, the corporate venturing unit of chipmaker Qualcomm, also participated.
Bangalore-based Capillary has created a Cloud-based CRM solution aimed at large enterprises and integrated with billing and point-of-sale outlets of retail chains (inTouch). Capillary also offers a stripped-down version called TruTouch that targets smaller retailers (1-15 stores). Capillary claims to reach out to over 50m consumers and 100 major brands including Nike and Pizza Hut.
Sequoia Capital is a venture capital firm that invests between $100,000 and $1 million in seed stage, between $1 million and $10 million in early stage, and between $10 million and $100 million in growth stage in emerging technology companies while NVP are a global investment firm that makes early to late stage venture and growth equity investments across a wide range of sectors.
Founded in 2008, Capillary raised its first round of angel funding, $100k, from Harminder Sahni, Naresh Malhotra and Qualcomm as the winners of QPrize). Capillary’s B-round funding in 2011 saw investment from Sahni and Malhotra, Rajan Anandan and Venkat Tadanki, among others.
With the additional funding, Capillary will be focus on growing its U.S customer base.