Silicon Valley investment firm Sequoia Capital has backed cloud-based software business Capillary Technologies as part of its Series A funding round.
Capillary Technologies is targeting the US market, as well as Europe and South East Asia, after attracting new investors and $15.5 million (£9.6 million).
Sequoia Capital and Norwest Venture Partners are joining existing venture capital firm Qualcomm Ventures in taking an interest in Capillary, a company which provides software aimed at allowing retailers to engage with customers through mobile, social and in-store channels.
Headquartered in Singapore, Capillary also has bases in London, California and Johannesburg and counts Pizza Hut, Puma, Mothercare and Nike as customers.
As well as expanding in its target markets, Capillary says it will also use the $15.5 million to build its product portfolio.
Co-founder and CEO of Capillary Technologies Aneesh Reddy says that the funding round represents a validation of the company’s vision.
He adds, ‘Both Sequoia and Norwest have amazing track records in helping to build significant companies-particularly in the big data and analytics sectors.’
As part of the deal, Mohan Kumar of Norwest Venture Partners and Shailesh Lakhani from Sequoia Capital will join the Capillary board of directors.
Lakhani, managing partner at Sequoia Capital, comments, ‘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.’