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Norwest, Sequoia Capital inject Series A cash into Capillary

25 Sep 2012

Norwest Venture Partners and Sequoia Capital have led a $15.5m financing round for cloud-based customer engagement software-maker Capillary Technologies.

The Series A round also saw participation from existing investor Qualcomm Ventures.

Capillary said it would use the capital to bolster its presence in the US market and enhance its product portfolio.

NVP’s Mohan Kumar and Shailesh Lakhani from Sequoia have joined the Capillary board of directors.

NVP managing partner Promod Haque said, “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.

“Capillary is helping these customers drive dramatic same-store sales increases – in some cases close to 10 per cent – and has an enormous opportunity to expand its offerings globally in what is still a hugely untapped market.”

Lakhani added, “Capillary has demonstrated that it can scale up successfully and profitably by focusing on a segment that has been underserved by other more expensive and complex solutions.

“We really liked the strength of Capillary’s solution for retailers and its ability to deliver immediate business results and are happy to partner with the company in this next crucial phase of their growth.”

Sequoia and Norwest are also existing investors in mobile IT security specialist MobileIron, which received $40m of Series E mezzanine financing led by Institutional Venture Partners earlier this year.

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