Bangalore based Capillary Technologies has secured a strategic investment (reportedly over $4 mn) from American Express Ventures, the venture capital arm of American Express as a part of a joint marketing deal it entered with the financial services company last month.
American Express and Capillary had conducted a pilot program in Singapore where AmEx sold Capillary’s SaaS based platform to mid-sized retail merchants. Capillary’s solutions enable retailers to capture and analyze data on customer behavior through social media, e-mail, in store, local and mobile channels.
Aneesh Reddy, Co-founder & CEO of Capillary Technologies told a business daily that the idea was to start with US, Hong Kong, Australia and Singapore and expand its geographic reach. The company is expected to raise another round of funding early next year.
Capillary won the Qualcomm Business Plan competition (with $100k seed funding) in 2009. Later in 2012, the company raised $15.5 mn in Series A from Sequoia Capital & Norwest Venture Partners.